According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,528.89% higher in 2024 versus 1922 (a $733,868.40 difference in value).
Between 1922 and 2024: Detroit experienced an average inflation rate of 2.77% per year. This rate of change indicates significant inflation. In other words, $48,000 in Detroit in the year 1922 would cost $781,868.40 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.90% during this same period, inflation in Detroit was lower.
In the year 1922: Pricing changed by -10.63%, which is significantly below the average yearly change in Detroit during the 1922-2024 time period. Compared to inflation for all items in 1922 (-6.16%), inflation in Detroit was much lower.
Below are calculations of equivalent buying power in Detroit, over time, for $48,000 beginning in 1922. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1922 | $48,000.00 | -10.63% |
1923 | $49,421.88 | 2.96% |
1924 | $49,674.15 | 0.51% |
1925 | $49,972.29 | 0.60% |
1926 | $50,820.83 | 1.70% |
1927 | $49,972.29 | -1.67% |
1928 | $48,229.34 | -3.49% |
1929 | $48,183.47 | -0.10% |
1930 | $47,380.79 | -1.67% |
1931 | $41,785.00 | -11.81% |
1932 | $36,464.41 | -12.73% |
1933 | $32,795.03 | -10.06% |
1934 | $34,652.65 | 5.66% |
1935 | $36,510.27 | 5.36% |
1936 | $38,046.82 | 4.21% |
1937 | $40,202.58 | 5.67% |
1938 | $39,996.18 | -0.51% |
1939 | $38,620.16 | -3.44% |
1940 | $38,849.50 | 0.59% |
1941 | $41,280.46 | 6.26% |
1942 | $45,844.24 | 11.06% |
1943 | $48,344.00 | 5.45% |
1944 | $48,986.14 | 1.33% |
1945 | $50,293.36 | 2.67% |
1946 | $54,673.67 | 8.71% |
1947 | $62,310.56 | 13.97% |
1948 | $67,333.01 | 8.06% |
1949 | $66,461.54 | -1.29% |
1950 | $67,562.35 | 1.66% |
1951 | $72,860.01 | 7.84% |
1952 | $74,694.70 | 2.52% |
1953 | $76,024.84 | 1.78% |
1954 | $76,300.05 | 0.36% |
1955 | $76,162.45 | -0.18% |
1956 | $77,584.33 | 1.87% |
1957 | $79,854.75 | 2.93% |
1958 | $80,955.57 | 1.38% |
1959 | $80,932.63 | -0.03% |
1960 | $81,597.71 | 0.82% |
1961 | $82,056.38 | 0.56% |
1962 | $82,308.65 | 0.31% |
1963 | $83,111.32 | 0.98% |
1964 | $83,799.33 | 0.83% |
1965 | $85,725.75 | 2.30% |
1966 | $89,532.73 | 4.44% |
1967 | $92,537.03 | 3.36% |
1968 | $96,527.47 | 4.31% |
1969 | $102,398.47 | 6.08% |
1970 | $108,728.14 | 6.18% |
1971 | $112,695.65 | 3.65% |
1972 | $116,869.57 | 3.70% |
1973 | $124,483.52 | 6.51% |
1974 | $137,968.47 | 10.83% |
1975 | $148,242.71 | 7.45% |
1976 | $156,292.40 | 5.43% |
1977 | $167,025.32 | 6.87% |
1978 | $179,707.60 | 7.59% |
1979 | $202,549.45 | 12.71% |
1980 | $234,748.21 | 15.90% |
1981 | $256,535.12 | 9.28% |
1982 | $266,924.03 | 4.05% |
1983 | $274,537.98 | 2.85% |
1984 | $284,147.16 | 3.50% |
1985 | $294,031.53 | 3.48% |
1986 | $298,136.65 | 1.40% |
1987 | $307,172.48 | 3.03% |
1988 | $318,845.68 | 3.80% |
1989 | $335,770.66 | 5.31% |
1990 | $353,039.66 | 5.14% |
1991 | $365,928.33 | 3.65% |
1992 | $373,611.08 | 2.10% |
1993 | $383,701.86 | 2.70% |
1994 | $395,810.80 | 3.16% |
1995 | $408,309.60 | 3.16% |
1996 | $419,363.59 | 2.71% |
1997 | $429,729.57 | 2.47% |
1998 | $439,247.01 | 2.21% |
1999 | $450,690.87 | 2.61% |
2000 | $466,537.98 | 3.52% |
2001 | $479,770.66 | 2.84% |
2002 | $491,742.00 | 2.50% |
2003 | $502,153.85 | 2.12% |
2004 | $509,859.53 | 1.53% |
2005 | $524,422.36 | 2.86% |
2006 | $540,498.81 | 3.07% |
2007 | $550,329.29 | 1.82% |
2008 | $563,739.70 | 2.44% |
2009 | $559,355.03 | -0.78% |
2010 | $564,114.44 | 0.85% |
2011 | $581,958.38 | 3.16% |
2012 | $594,316.14 | 2.12% |
2013 | $603,833.12 | 1.60% |
2014 | $610,375.61 | 1.08% |
2015 | $602,330.28 | -1.32% |
2016 | $611,125.31 | 1.46% |
2017 | $623,550.96 | 2.03% |
2018 | $638,871.29 | 2.46% |
2019 | $647,327.59 | 1.32% |
2020 | $653,919.39 | 1.02% |
2021 | $680,964.05 | 4.14% |
2022 | $736,853.66 | 8.21% |
2023 | $776,953.73 | 5.44% |
2024 | $781,868.40 | 0.63%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Detroit, Michigan:
Year | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 9.700 | 9.733 | 10.233 | 11.917 | 14.525 | 17.642 | 21.508 | 19.517 | 17.442 | 17.958 | 18.050 | 18.158 | 18.467 | 18.158 | 17.525 | 17.508 | 17.217 | 15.183 | 13.250 | 11.917 | 12.592 | 13.267 | 13.825 | 14.608 | 14.533 | 14.033 | 14.117 | 15.000 | 16.658 | 17.567 | 17.800 | 18.275 | 19.867 | 22.642 | 24.467 | 24.150 | 24.550 | 26.475 | 27.142 | 27.625 | 27.725 | 27.675 | 28.192 | 29.017 | 29.417 | 29.408 | 29.650 | 29.817 | 29.908 | 30.200 | 30.450 | 31.150 | 32.533 | 33.625 | 35.075 | 37.208 | 39.508 | 40.950 | 42.467 | 45.233 | 50.133 | 53.867 | 56.792 | 60.692 | 65.300 | 73.600 | 85.300 | 93.217 | 96.992 | 99.758 | 103.250 | 106.842 | 108.333 | 111.617 | 115.858 | 122.008 | 128.283 | 132.967 | 135.758 | 139.425 | 143.825 | 148.367 | 152.383 | 156.150 | 159.608 | 163.767 | 169.525 | 174.333 | 178.683 | 182.467 | 185.267 | 190.558 | 196.400 | 199.972 | 204.845 | 203.252 | 204.981 | 211.465 | 215.956 | 219.414 | 221.791 | 218.868 | 222.063 | 226.578 | 232.145 | 235.218 | 237.613 | 247.441 | 267.749 | 282.320 | 284.106 |