According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,473.99% higher in 2024 versus 1924 (a $66,329.75 difference in value).
Between 1924 and 2024: Detroit experienced an average inflation rate of 2.79% per year. This rate of change indicates significant inflation. In other words, $4,500 in Detroit in the year 1924 would cost $70,829.75 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.94% during this same period, inflation in Detroit was lower.
In the year 1924: Pricing changed by 0.51%, which is below the average yearly change in Detroit during the 1924-2024 time period. Compared to inflation for all items in 1924 (0.41%), inflation in Detroit was higher.
Below are calculations of equivalent buying power in Detroit, over time, for $4,500 beginning in 1924. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1924 | $4,500.00 | 0.51% |
1925 | $4,527.01 | 0.60% |
1926 | $4,603.88 | 1.70% |
1927 | $4,527.01 | -1.67% |
1928 | $4,369.11 | -3.49% |
1929 | $4,364.96 | -0.10% |
1930 | $4,292.24 | -1.67% |
1931 | $3,785.32 | -11.81% |
1932 | $3,303.32 | -12.73% |
1933 | $2,970.91 | -10.06% |
1934 | $3,139.20 | 5.66% |
1935 | $3,307.48 | 5.36% |
1936 | $3,446.68 | 4.21% |
1937 | $3,641.97 | 5.67% |
1938 | $3,623.27 | -0.51% |
1939 | $3,498.61 | -3.44% |
1940 | $3,519.39 | 0.59% |
1941 | $3,739.61 | 6.26% |
1942 | $4,153.05 | 11.06% |
1943 | $4,379.50 | 5.45% |
1944 | $4,437.67 | 1.33% |
1945 | $4,556.09 | 2.67% |
1946 | $4,952.91 | 8.71% |
1947 | $5,644.74 | 13.97% |
1948 | $6,099.72 | 8.06% |
1949 | $6,020.78 | -1.29% |
1950 | $6,120.50 | 1.66% |
1951 | $6,600.42 | 7.84% |
1952 | $6,766.62 | 2.52% |
1953 | $6,887.12 | 1.78% |
1954 | $6,912.05 | 0.36% |
1955 | $6,899.58 | -0.18% |
1956 | $7,028.39 | 1.87% |
1957 | $7,234.07 | 2.93% |
1958 | $7,333.80 | 1.38% |
1959 | $7,331.72 | -0.03% |
1960 | $7,391.97 | 0.82% |
1961 | $7,433.52 | 0.56% |
1962 | $7,456.37 | 0.31% |
1963 | $7,529.09 | 0.98% |
1964 | $7,591.41 | 0.83% |
1965 | $7,765.93 | 2.30% |
1966 | $8,110.80 | 4.44% |
1967 | $8,382.96 | 3.36% |
1968 | $8,744.46 | 4.31% |
1969 | $9,276.32 | 6.08% |
1970 | $9,849.72 | 6.18% |
1971 | $10,209.14 | 3.65% |
1972 | $10,587.26 | 3.70% |
1973 | $11,277.01 | 6.51% |
1974 | $12,498.61 | 10.83% |
1975 | $13,429.36 | 7.45% |
1976 | $14,158.59 | 5.43% |
1977 | $15,130.89 | 6.87% |
1978 | $16,279.78 | 7.59% |
1979 | $18,349.03 | 12.71% |
1980 | $21,265.93 | 15.90% |
1981 | $23,239.61 | 9.28% |
1982 | $24,180.75 | 4.05% |
1983 | $24,870.50 | 2.85% |
1984 | $25,741.00 | 3.50% |
1985 | $26,636.43 | 3.48% |
1986 | $27,008.31 | 1.40% |
1987 | $27,826.87 | 3.03% |
1988 | $28,884.35 | 3.80% |
1989 | $30,417.59 | 5.31% |
1990 | $31,981.99 | 5.14% |
1991 | $33,149.58 | 3.65% |
1992 | $33,845.57 | 2.10% |
1993 | $34,759.70 | 2.70% |
1994 | $35,856.65 | 3.16% |
1995 | $36,988.92 | 3.16% |
1996 | $37,990.30 | 2.71% |
1997 | $38,929.36 | 2.47% |
1998 | $39,791.55 | 2.21% |
1999 | $40,828.25 | 2.61% |
2000 | $42,263.85 | 3.52% |
2001 | $43,462.60 | 2.84% |
2002 | $44,547.09 | 2.50% |
2003 | $45,490.30 | 2.12% |
2004 | $46,188.37 | 1.53% |
2005 | $47,507.62 | 2.86% |
2006 | $48,963.99 | 3.07% |
2007 | $49,854.54 | 1.82% |
2008 | $51,069.39 | 2.44% |
2009 | $50,672.18 | -0.78% |
2010 | $51,103.34 | 0.85% |
2011 | $52,719.83 | 3.16% |
2012 | $53,839.32 | 2.12% |
2013 | $54,701.47 | 1.60% |
2014 | $55,294.16 | 1.08% |
2015 | $54,565.33 | -1.32% |
2016 | $55,362.07 | 1.46% |
2017 | $56,487.71 | 2.03% |
2018 | $57,875.59 | 2.46% |
2019 | $58,641.65 | 1.32% |
2020 | $59,238.80 | 1.02% |
2021 | $61,688.79 | 4.14% |
2022 | $66,751.85 | 8.21% |
2023 | $70,384.53 | 5.44% |
2024 | $70,829.75 | 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 |