According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,912.56% higher in 2024 versus 1940 (a $6,521,820,259,740.26 difference in value).
Between 1940 and 2024: Detroit experienced an average inflation rate of 3.64% per year. This rate of change indicates significant inflation. In other words, $341,000,000,000 in Detroit in the year 1940 would cost $6,862,820,259,740.26 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.76% during this same period, inflation in Detroit was lower.
In the year 1940: Pricing changed by 0.59%, which is significantly below the average yearly change in Detroit during the 1940-2024 time period. Compared to inflation for all items in 1940 (0.72%), inflation in Detroit was lower.
Below are calculations of equivalent buying power in Detroit, over time, for $341,000,000,000 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1940 | $341,000,000,000.00 | 0.59% |
1941 | $362,337,662,337.66 | 6.26% |
1942 | $402,396,103,896.10 | 11.06% |
1943 | $424,337,662,337.66 | 5.45% |
1944 | $429,974,025,974.03 | 1.33% |
1945 | $441,448,051,948.05 | 2.67% |
1946 | $479,896,103,896.10 | 8.71% |
1947 | $546,928,571,428.57 | 13.97% |
1948 | $591,012,987,012.99 | 8.06% |
1949 | $583,363,636,363.64 | -1.29% |
1950 | $593,025,974,025.97 | 1.66% |
1951 | $639,525,974,025.97 | 7.84% |
1952 | $655,629,870,129.87 | 2.52% |
1953 | $667,305,194,805.19 | 1.78% |
1954 | $669,720,779,220.78 | 0.36% |
1955 | $668,512,987,012.99 | -0.18% |
1956 | $680,993,506,493.51 | 1.87% |
1957 | $700,922,077,922.08 | 2.93% |
1958 | $710,584,415,584.42 | 1.38% |
1959 | $710,383,116,883.12 | -0.03% |
1960 | $716,220,779,220.78 | 0.82% |
1961 | $720,246,753,246.75 | 0.56% |
1962 | $722,461,038,961.04 | 0.31% |
1963 | $729,506,493,506.49 | 0.98% |
1964 | $735,545,454,545.45 | 0.83% |
1965 | $752,454,545,454.55 | 2.30% |
1966 | $785,870,129,870.13 | 4.44% |
1967 | $812,240,259,740.26 | 3.36% |
1968 | $847,266,233,766.23 | 4.31% |
1969 | $898,798,701,298.70 | 6.08% |
1970 | $954,357,142,857.14 | 6.18% |
1971 | $989,181,818,181.82 | 3.65% |
1972 | $1,025,818,181,818.18 | 3.70% |
1973 | $1,092,649,350,649.35 | 6.51% |
1974 | $1,211,012,987,012.99 | 10.83% |
1975 | $1,301,194,805,194.81 | 7.45% |
1976 | $1,371,850,649,350.65 | 5.43% |
1977 | $1,466,058,441,558.44 | 6.87% |
1978 | $1,577,376,623,376.62 | 7.59% |
1979 | $1,777,870,129,870.13 | 12.71% |
1980 | $2,060,493,506,493.51 | 15.90% |
1981 | $2,251,727,272,727.27 | 9.28% |
1982 | $2,342,915,584,415.58 | 4.05% |
1983 | $2,409,746,753,246.75 | 2.85% |
1984 | $2,494,090,909,090.91 | 3.50% |
1985 | $2,580,850,649,350.65 | 3.48% |
1986 | $2,616,883,116,883.12 | 1.40% |
1987 | $2,696,194,805,194.81 | 3.03% |
1988 | $2,798,655,844,155.84 | 3.80% |
1989 | $2,947,214,285,714.29 | 5.31% |
1990 | $3,098,792,207,792.21 | 5.14% |
1991 | $3,211,922,077,922.08 | 3.65% |
1992 | $3,279,357,142,857.14 | 2.10% |
1993 | $3,367,928,571,428.57 | 2.70% |
1994 | $3,474,214,285,714.29 | 3.16% |
1995 | $3,583,922,077,922.08 | 3.16% |
1996 | $3,680,948,051,948.05 | 2.71% |
1997 | $3,771,935,064,935.07 | 2.47% |
1998 | $3,855,474,025,974.03 | 2.21% |
1999 | $3,955,922,077,922.08 | 2.61% |
2000 | $4,095,019,480,519.48 | 3.52% |
2001 | $4,211,168,831,168.83 | 2.84% |
2002 | $4,316,246,753,246.75 | 2.50% |
2003 | $4,407,636,363,636.36 | 2.12% |
2004 | $4,475,272,727,272.73 | 1.53% |
2005 | $4,603,097,402,597.40 | 2.86% |
2006 | $4,744,207,792,207.79 | 3.07% |
2007 | $4,830,494,480,519.48 | 1.82% |
2008 | $4,948,203,896,103.90 | 2.44% |
2009 | $4,909,717,597,402.60 | -0.78% |
2010 | $4,951,493,116,883.12 | 0.85% |
2011 | $5,108,117,597,402.60 | 3.16% |
2012 | $5,216,587,402,597.40 | 2.12% |
2013 | $5,300,122,337,662.34 | 1.60% |
2014 | $5,357,548,831,168.83 | 1.08% |
2015 | $5,286,931,233,766.23 | -1.32% |
2016 | $5,364,129,285,714.29 | 1.46% |
2017 | $5,473,194,935,064.94 | 2.03% |
2018 | $5,607,668,506,493.51 | 2.46% |
2019 | $5,681,893,376,623.38 | 1.32% |
2020 | $5,739,752,662,337.66 | 1.02% |
2021 | $5,977,136,168,831.17 | 4.14% |
2022 | $6,467,705,129,870.13 | 8.21% |
2023 | $6,819,681,948,051.95 | 5.44% |
2024 | $6,862,820,259,740.26 | 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 |