According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,528.89% higher in 2024 versus 1922 (a $117,724.72 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, $7,700 in Detroit in the year 1922 would cost $125,424.72 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 $7,700 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 | $7,700.00 | -10.63% |
1923 | $7,928.09 | 2.96% |
1924 | $7,968.56 | 0.51% |
1925 | $8,016.39 | 0.60% |
1926 | $8,152.51 | 1.70% |
1927 | $8,016.39 | -1.67% |
1928 | $7,736.79 | -3.49% |
1929 | $7,729.43 | -0.10% |
1930 | $7,600.67 | -1.67% |
1931 | $6,703.01 | -11.81% |
1932 | $5,849.50 | -12.73% |
1933 | $5,260.87 | -10.06% |
1934 | $5,558.86 | 5.66% |
1935 | $5,856.86 | 5.36% |
1936 | $6,103.34 | 4.21% |
1937 | $6,449.16 | 5.67% |
1938 | $6,416.05 | -0.51% |
1939 | $6,195.32 | -3.44% |
1940 | $6,232.11 | 0.59% |
1941 | $6,622.07 | 6.26% |
1942 | $7,354.18 | 11.06% |
1943 | $7,755.18 | 5.45% |
1944 | $7,858.19 | 1.33% |
1945 | $8,067.89 | 2.67% |
1946 | $8,770.57 | 8.71% |
1947 | $9,995.65 | 13.97% |
1948 | $10,801.34 | 8.06% |
1949 | $10,661.54 | -1.29% |
1950 | $10,838.13 | 1.66% |
1951 | $11,687.96 | 7.84% |
1952 | $11,982.27 | 2.52% |
1953 | $12,195.65 | 1.78% |
1954 | $12,239.80 | 0.36% |
1955 | $12,217.73 | -0.18% |
1956 | $12,445.82 | 1.87% |
1957 | $12,810.03 | 2.93% |
1958 | $12,986.62 | 1.38% |
1959 | $12,982.94 | -0.03% |
1960 | $13,089.63 | 0.82% |
1961 | $13,163.21 | 0.56% |
1962 | $13,203.68 | 0.31% |
1963 | $13,332.44 | 0.98% |
1964 | $13,442.81 | 0.83% |
1965 | $13,751.84 | 2.30% |
1966 | $14,362.54 | 4.44% |
1967 | $14,844.48 | 3.36% |
1968 | $15,484.62 | 4.31% |
1969 | $16,426.42 | 6.08% |
1970 | $17,441.81 | 6.18% |
1971 | $18,078.26 | 3.65% |
1972 | $18,747.83 | 3.70% |
1973 | $19,969.23 | 6.51% |
1974 | $22,132.44 | 10.83% |
1975 | $23,780.60 | 7.45% |
1976 | $25,071.91 | 5.43% |
1977 | $26,793.65 | 6.87% |
1978 | $28,828.09 | 7.59% |
1979 | $32,492.31 | 12.71% |
1980 | $37,657.53 | 15.90% |
1981 | $41,152.51 | 9.28% |
1982 | $42,819.06 | 4.05% |
1983 | $44,040.47 | 2.85% |
1984 | $45,581.94 | 3.50% |
1985 | $47,167.56 | 3.48% |
1986 | $47,826.09 | 1.40% |
1987 | $49,275.59 | 3.03% |
1988 | $51,148.16 | 3.80% |
1989 | $53,863.21 | 5.31% |
1990 | $56,633.44 | 5.14% |
1991 | $58,701.00 | 3.65% |
1992 | $59,933.44 | 2.10% |
1993 | $61,552.17 | 2.70% |
1994 | $63,494.65 | 3.16% |
1995 | $65,499.67 | 3.16% |
1996 | $67,272.91 | 2.71% |
1997 | $68,935.79 | 2.47% |
1998 | $70,462.54 | 2.21% |
1999 | $72,298.33 | 2.61% |
2000 | $74,840.47 | 3.52% |
2001 | $76,963.21 | 2.84% |
2002 | $78,883.61 | 2.50% |
2003 | $80,553.85 | 2.12% |
2004 | $81,789.97 | 1.53% |
2005 | $84,126.09 | 2.86% |
2006 | $86,705.02 | 3.07% |
2007 | $88,281.99 | 1.82% |
2008 | $90,433.24 | 2.44% |
2009 | $89,729.87 | -0.78% |
2010 | $90,493.36 | 0.85% |
2011 | $93,355.82 | 3.16% |
2012 | $95,338.21 | 2.12% |
2013 | $96,864.90 | 1.60% |
2014 | $97,914.42 | 1.08% |
2015 | $96,623.82 | -1.32% |
2016 | $98,034.69 | 1.46% |
2017 | $100,027.97 | 2.03% |
2018 | $102,485.60 | 2.46% |
2019 | $103,842.13 | 1.32% |
2020 | $104,899.57 | 1.02% |
2021 | $109,237.98 | 4.14% |
2022 | $118,203.61 | 8.21% |
2023 | $124,636.33 | 5.44% |
2024 | $125,424.72 | 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 |