According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,482.03% higher in 2024 versus 1923 (a $51,871.01 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, $3,500 in Detroit in the year 1923 would cost $55,371.01 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 $3,500 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 | $3,500.00 | 2.96% |
1924 | $3,517.87 | 0.51% |
1925 | $3,538.98 | 0.60% |
1926 | $3,599.07 | 1.70% |
1927 | $3,538.98 | -1.67% |
1928 | $3,415.55 | -3.49% |
1929 | $3,412.30 | -0.10% |
1930 | $3,355.45 | -1.67% |
1931 | $2,959.16 | -11.81% |
1932 | $2,582.37 | -12.73% |
1933 | $2,322.51 | -10.06% |
1934 | $2,454.06 | 5.66% |
1935 | $2,585.61 | 5.36% |
1936 | $2,694.43 | 4.21% |
1937 | $2,847.10 | 5.67% |
1938 | $2,832.48 | -0.51% |
1939 | $2,735.03 | -3.44% |
1940 | $2,751.28 | 0.59% |
1941 | $2,923.43 | 6.26% |
1942 | $3,246.64 | 11.06% |
1943 | $3,423.67 | 5.45% |
1944 | $3,469.14 | 1.33% |
1945 | $3,561.72 | 2.67% |
1946 | $3,871.93 | 8.71% |
1947 | $4,412.76 | 13.97% |
1948 | $4,768.45 | 8.06% |
1949 | $4,706.73 | -1.29% |
1950 | $4,784.69 | 1.66% |
1951 | $5,159.86 | 7.84% |
1952 | $5,289.79 | 2.52% |
1953 | $5,383.99 | 1.78% |
1954 | $5,403.48 | 0.36% |
1955 | $5,393.74 | -0.18% |
1956 | $5,494.43 | 1.87% |
1957 | $5,655.22 | 2.93% |
1958 | $5,733.18 | 1.38% |
1959 | $5,731.55 | -0.03% |
1960 | $5,778.65 | 0.82% |
1961 | $5,811.14 | 0.56% |
1962 | $5,829.00 | 0.31% |
1963 | $5,885.85 | 0.98% |
1964 | $5,934.57 | 0.83% |
1965 | $6,071.00 | 2.30% |
1966 | $6,340.60 | 4.44% |
1967 | $6,553.36 | 3.36% |
1968 | $6,835.96 | 4.31% |
1969 | $7,251.74 | 6.08% |
1970 | $7,700.00 | 6.18% |
1971 | $7,980.97 | 3.65% |
1972 | $8,276.57 | 3.70% |
1973 | $8,815.78 | 6.51% |
1974 | $9,770.77 | 10.83% |
1975 | $10,498.38 | 7.45% |
1976 | $11,068.45 | 5.43% |
1977 | $11,828.54 | 6.87% |
1978 | $12,726.68 | 7.59% |
1979 | $14,344.32 | 12.71% |
1980 | $16,624.59 | 15.90% |
1981 | $18,167.52 | 9.28% |
1982 | $18,903.25 | 4.05% |
1983 | $19,442.46 | 2.85% |
1984 | $20,122.97 | 3.50% |
1985 | $20,822.97 | 3.48% |
1986 | $21,113.69 | 1.40% |
1987 | $21,753.60 | 3.03% |
1988 | $22,580.28 | 3.80% |
1989 | $23,778.89 | 5.31% |
1990 | $25,001.86 | 5.14% |
1991 | $25,914.62 | 3.65% |
1992 | $26,458.70 | 2.10% |
1993 | $27,173.32 | 2.70% |
1994 | $28,030.86 | 3.16% |
1995 | $28,916.01 | 3.16% |
1996 | $29,698.84 | 2.71% |
1997 | $30,432.95 | 2.47% |
1998 | $31,106.96 | 2.21% |
1999 | $31,917.40 | 2.61% |
2000 | $33,039.68 | 3.52% |
2001 | $33,976.80 | 2.84% |
2002 | $34,824.59 | 2.50% |
2003 | $35,561.95 | 2.12% |
2004 | $36,107.66 | 1.53% |
2005 | $37,138.98 | 2.86% |
2006 | $38,277.49 | 3.07% |
2007 | $38,973.68 | 1.82% |
2008 | $39,923.39 | 2.44% |
2009 | $39,612.87 | -0.78% |
2010 | $39,949.93 | 0.85% |
2011 | $41,213.61 | 3.16% |
2012 | $42,088.77 | 2.12% |
2013 | $42,762.76 | 1.60% |
2014 | $43,226.09 | 1.08% |
2015 | $42,656.33 | -1.32% |
2016 | $43,279.18 | 1.46% |
2017 | $44,159.15 | 2.03% |
2018 | $45,244.12 | 2.46% |
2019 | $45,842.98 | 1.32% |
2020 | $46,309.81 | 1.02% |
2021 | $48,225.08 | 4.14% |
2022 | $52,183.12 | 8.21% |
2023 | $55,022.96 | 5.44% |
2024 | $55,371.01 | 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 |