According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,959.01% higher in 2024 versus 1940 (a $18,610,581.32 difference in value).
Between 1940 and 2024: Detroit experienced an average inflation rate of 3.67% per year. This rate of change indicates significant inflation. In other words, $950,000 in Detroit in the year 1940 would cost $19,560,581.32 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.77% 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 $950,000 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 | $950,000.00 | 0.59% |
| 1941 | $1,009,445.10 | 6.26% |
| 1942 | $1,121,044.86 | 11.06% |
| 1943 | $1,182,172.37 | 5.45% |
| 1944 | $1,197,874.85 | 1.33% |
| 1945 | $1,229,840.61 | 2.67% |
| 1946 | $1,336,953.96 | 8.71% |
| 1947 | $1,523,701.30 | 13.97% |
| 1948 | $1,646,517.12 | 8.06% |
| 1949 | $1,625,206.61 | -1.29% |
| 1950 | $1,652,125.15 | 1.66% |
| 1951 | $1,781,670.60 | 7.84% |
| 1952 | $1,826,534.83 | 2.52% |
| 1953 | $1,859,061.39 | 1.78% |
| 1954 | $1,865,791.03 | 0.36% |
| 1955 | $1,862,426.21 | -0.18% |
| 1956 | $1,897,195.99 | 1.87% |
| 1957 | $1,952,715.47 | 2.93% |
| 1958 | $1,979,634.00 | 1.38% |
| 1959 | $1,979,073.20 | -0.03% |
| 1960 | $1,995,336.48 | 0.82% |
| 1961 | $2,006,552.54 | 0.56% |
| 1962 | $2,012,721.37 | 0.31% |
| 1963 | $2,032,349.47 | 0.98% |
| 1964 | $2,049,173.55 | 0.83% |
| 1965 | $2,096,280.99 | 2.30% |
| 1966 | $2,189,374.26 | 4.44% |
| 1967 | $2,262,839.43 | 3.36% |
| 1968 | $2,360,419.13 | 4.31% |
| 1969 | $2,503,984.65 | 6.08% |
| 1970 | $2,658,766.23 | 6.18% |
| 1971 | $2,755,785.12 | 3.65% |
| 1972 | $2,857,851.24 | 3.70% |
| 1973 | $3,044,037.78 | 6.51% |
| 1974 | $3,373,789.85 | 10.83% |
| 1975 | $3,625,029.52 | 7.45% |
| 1976 | $3,821,871.31 | 5.43% |
| 1977 | $4,084,327.04 | 6.87% |
| 1978 | $4,394,451.00 | 7.59% |
| 1979 | $4,953,010.63 | 12.71% |
| 1980 | $5,740,377.80 | 15.90% |
| 1981 | $6,273,140.50 | 9.28% |
| 1982 | $6,527,184.18 | 4.05% |
| 1983 | $6,713,370.72 | 2.85% |
| 1984 | $6,948,347.11 | 3.50% |
| 1985 | $7,190,053.13 | 3.48% |
| 1986 | $7,290,436.84 | 1.40% |
| 1987 | $7,511,393.15 | 3.03% |
| 1988 | $7,796,841.79 | 3.80% |
| 1989 | $8,210,714.29 | 5.31% |
| 1990 | $8,632,998.82 | 5.14% |
| 1991 | $8,948,170.01 | 3.65% |
| 1992 | $9,136,038.96 | 2.10% |
| 1993 | $9,382,792.21 | 2.70% |
| 1994 | $9,678,896.10 | 3.16% |
| 1995 | $9,984,533.65 | 3.16% |
| 1996 | $10,254,840.61 | 2.71% |
| 1997 | $10,508,323.49 | 2.47% |
| 1998 | $10,741,056.67 | 2.21% |
| 1999 | $11,020,897.28 | 2.61% |
| 2000 | $11,408,412.04 | 3.52% |
| 2001 | $11,731,995.28 | 2.84% |
| 2002 | $12,024,734.36 | 2.50% |
| 2003 | $12,279,338.84 | 2.12% |
| 2004 | $12,467,768.60 | 1.53% |
| 2005 | $12,823,878.39 | 2.86% |
| 2006 | $13,217,001.18 | 3.07% |
| 2007 | $13,457,389.32 | 1.82% |
| 2008 | $13,785,318.77 | 2.44% |
| 2009 | $13,678,098.88 | -0.78% |
| 2010 | $13,794,482.29 | 0.85% |
| 2011 | $14,230,826.15 | 3.16% |
| 2012 | $14,533,014.76 | 2.12% |
| 2013 | $14,765,736.72 | 1.60% |
| 2014 | $14,925,722.55 | 1.08% |
| 2015 | $14,728,987.31 | -1.32% |
| 2016 | $14,944,055.19 | 1.46% |
| 2017 | $15,247,903.78 | 2.03% |
| 2018 | $15,622,536.89 | 2.46% |
| 2019 | $15,829,321.72 | 1.32% |
| 2020 | $15,990,513.28 | 1.02% |
| 2021 | $16,651,845.63 | 4.14% |
| 2022 | $18,018,533.35 | 8.21% |
| 2023 | $18,999,113.93 | 5.44% |
| 2024 | $19,560,581.32 | 2.96%* |
* 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 | 290.663 |