According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,482.03% higher in 2024 versus 1923 (a $400,147.77 difference in value).
Between 1923 and 2024: Detroit experienced an average inflation rate of 2.77% per year. This rate of change indicates significant inflation. In other words, $27,000 in Detroit in the year 1923 would cost $427,147.77 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.91% during this same period, inflation in Detroit was lower.
In the year 1923: Pricing changed by 2.96%, which is above the average yearly change in Detroit during the 1923-2024 time period. Compared to inflation for all items in 1923 (1.79%), inflation in Detroit was higher.
Below are calculations of equivalent buying power in Detroit, over time, for $27,000 beginning in 1923. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1923 | $27,000.00 | 2.96% |
1924 | $27,137.82 | 0.51% |
1925 | $27,300.70 | 0.60% |
1926 | $27,764.27 | 1.70% |
1927 | $27,300.70 | -1.67% |
1928 | $26,348.49 | -3.49% |
1929 | $26,323.43 | -0.10% |
1930 | $25,884.92 | -1.67% |
1931 | $22,827.84 | -11.81% |
1932 | $19,921.11 | -12.73% |
1933 | $17,916.47 | -10.06% |
1934 | $18,931.32 | 5.66% |
1935 | $19,946.17 | 5.36% |
1936 | $20,785.61 | 4.21% |
1937 | $21,963.34 | 5.67% |
1938 | $21,850.58 | -0.51% |
1939 | $21,098.84 | -3.44% |
1940 | $21,224.13 | 0.59% |
1941 | $22,552.20 | 6.26% |
1942 | $25,045.48 | 11.06% |
1943 | $26,411.14 | 5.45% |
1944 | $26,761.95 | 1.33% |
1945 | $27,476.10 | 2.67% |
1946 | $29,869.14 | 8.71% |
1947 | $34,041.30 | 13.97% |
1948 | $36,785.15 | 8.06% |
1949 | $36,309.05 | -1.29% |
1950 | $36,910.44 | 1.66% |
1951 | $39,804.64 | 7.84% |
1952 | $40,806.96 | 2.52% |
1953 | $41,533.64 | 1.78% |
1954 | $41,683.99 | 0.36% |
1955 | $41,608.82 | -0.18% |
1956 | $42,385.61 | 1.87% |
1957 | $43,625.99 | 2.93% |
1958 | $44,227.38 | 1.38% |
1959 | $44,214.85 | -0.03% |
1960 | $44,578.19 | 0.82% |
1961 | $44,828.77 | 0.56% |
1962 | $44,966.59 | 0.31% |
1963 | $45,405.10 | 0.98% |
1964 | $45,780.97 | 0.83% |
1965 | $46,833.41 | 2.30% |
1966 | $48,913.23 | 4.44% |
1967 | $50,554.52 | 3.36% |
1968 | $52,734.57 | 4.31% |
1969 | $55,942.00 | 6.08% |
1970 | $59,400.00 | 6.18% |
1971 | $61,567.52 | 3.65% |
1972 | $63,847.80 | 3.70% |
1973 | $68,007.42 | 6.51% |
1974 | $75,374.48 | 10.83% |
1975 | $80,987.47 | 7.45% |
1976 | $85,385.15 | 5.43% |
1977 | $91,248.72 | 6.87% |
1978 | $98,177.26 | 7.59% |
1979 | $110,656.15 | 12.71% |
1980 | $128,246.87 | 15.90% |
1981 | $140,149.42 | 9.28% |
1982 | $145,825.06 | 4.05% |
1983 | $149,984.69 | 2.85% |
1984 | $155,234.34 | 3.50% |
1985 | $160,634.34 | 3.48% |
1986 | $162,877.03 | 1.40% |
1987 | $167,813.46 | 3.03% |
1988 | $174,190.72 | 3.80% |
1989 | $183,437.12 | 5.31% |
1990 | $192,871.46 | 5.14% |
1991 | $199,912.76 | 3.65% |
1992 | $204,109.98 | 2.10% |
1993 | $209,622.74 | 2.70% |
1994 | $216,238.05 | 3.16% |
1995 | $223,066.36 | 3.16% |
1996 | $229,105.34 | 2.71% |
1997 | $234,768.45 | 2.47% |
1998 | $239,967.98 | 2.21% |
1999 | $246,219.95 | 2.61% |
2000 | $254,877.49 | 3.52% |
2001 | $262,106.73 | 2.84% |
2002 | $268,646.87 | 2.50% |
2003 | $274,335.03 | 2.12% |
2004 | $278,544.78 | 1.53% |
2005 | $286,500.70 | 2.86% |
2006 | $295,283.53 | 3.07% |
2007 | $300,654.08 | 1.82% |
2008 | $307,980.42 | 2.44% |
2009 | $305,585.00 | -0.78% |
2010 | $308,185.14 | 0.85% |
2011 | $317,933.58 | 3.16% |
2012 | $324,684.84 | 2.12% |
2013 | $329,884.12 | 1.60% |
2014 | $333,458.39 | 1.08% |
2015 | $329,063.10 | -1.32% |
2016 | $333,867.97 | 1.46% |
2017 | $340,656.31 | 2.03% |
2018 | $349,026.06 | 2.46% |
2019 | $353,645.87 | 1.32% |
2020 | $357,247.09 | 1.02% |
2021 | $372,022.04 | 4.14% |
2022 | $402,555.47 | 8.21% |
2023 | $424,462.80 | 5.44% |
2024 | $427,147.77 | 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 |