According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 1,154.79% higher in 2024 versus 1947 (a $5,773.96 difference in value).
Between 1947 and 2024: Detroit experienced an average inflation rate of 3.34% per year. This rate of change indicates significant inflation. In other words, $500 in Detroit in the year 1947 would cost $6,273.96 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.48% during this same period, inflation in Detroit was lower.
In the year 1947: Pricing changed by 13.97%, which is significantly above the average yearly change in Detroit during the 1947-2024 time period. Compared to inflation for all items in 1947 (14.39%), inflation in Detroit was lower.
Below are calculations of equivalent buying power in Detroit, over time, for $500 beginning in 1947. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1947 | $500.00 | 13.97% |
1948 | $540.30 | 8.06% |
1949 | $533.31 | -1.29% |
1950 | $542.14 | 1.66% |
1951 | $584.65 | 7.84% |
1952 | $599.37 | 2.52% |
1953 | $610.05 | 1.78% |
1954 | $612.26 | 0.36% |
1955 | $611.15 | -0.18% |
1956 | $622.56 | 1.87% |
1957 | $640.78 | 2.93% |
1958 | $649.61 | 1.38% |
1959 | $649.43 | -0.03% |
1960 | $654.77 | 0.82% |
1961 | $658.45 | 0.56% |
1962 | $660.47 | 0.31% |
1963 | $666.91 | 0.98% |
1964 | $672.43 | 0.83% |
1965 | $687.89 | 2.30% |
1966 | $718.44 | 4.44% |
1967 | $742.55 | 3.36% |
1968 | $774.57 | 4.31% |
1969 | $821.68 | 6.08% |
1970 | $872.47 | 6.18% |
1971 | $904.31 | 3.65% |
1972 | $937.80 | 3.70% |
1973 | $998.90 | 6.51% |
1974 | $1,107.10 | 10.83% |
1975 | $1,189.55 | 7.45% |
1976 | $1,254.14 | 5.43% |
1977 | $1,340.26 | 6.87% |
1978 | $1,442.03 | 7.59% |
1979 | $1,625.32 | 12.71% |
1980 | $1,883.70 | 15.90% |
1981 | $2,058.52 | 9.28% |
1982 | $2,141.88 | 4.05% |
1983 | $2,202.98 | 2.85% |
1984 | $2,280.09 | 3.50% |
1985 | $2,359.40 | 3.48% |
1986 | $2,392.34 | 1.40% |
1987 | $2,464.85 | 3.03% |
1988 | $2,558.52 | 3.80% |
1989 | $2,694.33 | 5.31% |
1990 | $2,832.90 | 5.14% |
1991 | $2,936.33 | 3.65% |
1992 | $2,997.98 | 2.10% |
1993 | $3,078.95 | 2.70% |
1994 | $3,176.11 | 3.16% |
1995 | $3,276.41 | 3.16% |
1996 | $3,365.11 | 2.71% |
1997 | $3,448.29 | 2.47% |
1998 | $3,524.66 | 2.21% |
1999 | $3,616.49 | 2.61% |
2000 | $3,743.65 | 3.52% |
2001 | $3,849.83 | 2.84% |
2002 | $3,945.90 | 2.50% |
2003 | $4,029.44 | 2.12% |
2004 | $4,091.28 | 1.53% |
2005 | $4,208.13 | 2.86% |
2006 | $4,337.14 | 3.07% |
2007 | $4,416.02 | 1.82% |
2008 | $4,523.63 | 2.44% |
2009 | $4,488.44 | -0.78% |
2010 | $4,526.64 | 0.85% |
2011 | $4,669.82 | 3.16% |
2012 | $4,768.98 | 2.12% |
2013 | $4,845.35 | 1.60% |
2014 | $4,897.85 | 1.08% |
2015 | $4,833.29 | -1.32% |
2016 | $4,903.87 | 1.46% |
2017 | $5,003.57 | 2.03% |
2018 | $5,126.51 | 2.46% |
2019 | $5,194.37 | 1.32% |
2020 | $5,247.26 | 1.02% |
2021 | $5,464.27 | 4.14% |
2022 | $5,912.75 | 8.21% |
2023 | $6,234.53 | 5.44% |
2024 | $6,273.96 | 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 |