According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 240.75% higher in 2024 versus 1980 (a $19,260,339.98 difference in value).
Between 1980 and 2024: Detroit experienced an average inflation rate of 2.83% per year. This rate of change indicates significant inflation. In other words, $8,000,000 in Detroit in the year 1980 would cost $27,260,339.98 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.08% during this same period, inflation in Detroit was lower.
In the year 1980: Pricing changed by 15.90%, which is significantly above the average yearly change in Detroit during the 1980-2024 time period. Compared to inflation for all items in 1980 (13.55%), inflation in Detroit was higher.
Below are calculations of equivalent buying power in Detroit, over time, for $8,000,000 beginning in 1980. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1980 | $8,000,000.00 | 15.90% |
| 1981 | $8,742,477.53 | 9.28% |
| 1982 | $9,096,522.08 | 4.05% |
| 1983 | $9,355,998.44 | 2.85% |
| 1984 | $9,683,470.11 | 3.50% |
| 1985 | $10,020,320.44 | 3.48% |
| 1986 | $10,160,218.84 | 1.40% |
| 1987 | $10,468,151.62 | 3.03% |
| 1988 | $10,865,963.27 | 3.80% |
| 1989 | $11,442,751.07 | 5.31% |
| 1990 | $12,031,262.21 | 5.14% |
| 1991 | $12,470,496.29 | 3.65% |
| 1992 | $12,732,317.31 | 2.10% |
| 1993 | $13,076,201.64 | 2.70% |
| 1994 | $13,488,862.84 | 3.16% |
| 1995 | $13,914,810.47 | 3.16% |
| 1996 | $14,291,520.13 | 2.71% |
| 1997 | $14,644,783.12 | 2.47% |
| 1998 | $14,969,128.57 | 2.21% |
| 1999 | $15,359,124.66 | 2.61% |
| 2000 | $15,899,179.37 | 3.52% |
| 2001 | $16,350,136.77 | 2.84% |
| 2002 | $16,758,108.64 | 2.50% |
| 2003 | $17,112,934.74 | 2.12% |
| 2004 | $17,375,537.32 | 1.53% |
| 2005 | $17,871,824.93 | 2.86% |
| 2006 | $18,419,695.19 | 3.07% |
| 2007 | $18,754,708.87 | 1.82% |
| 2008 | $19,211,723.33 | 2.44% |
| 2009 | $19,062,297.77 | -0.78% |
| 2010 | $19,224,493.94 | 0.85% |
| 2011 | $19,832,598.67 | 3.16% |
| 2012 | $20,253,739.74 | 2.12% |
| 2013 | $20,578,069.56 | 1.60% |
| 2014 | $20,801,031.65 | 1.08% |
| 2015 | $20,526,854.24 | -1.32% |
| 2016 | $20,826,580.70 | 1.46% |
| 2017 | $21,250,035.17 | 2.03% |
| 2018 | $21,772,137.55 | 2.46% |
| 2019 | $22,060,320.44 | 1.32% |
| 2020 | $22,284,962.88 | 1.02% |
| 2021 | $23,206,619.77 | 4.14% |
| 2022 | $25,111,285.66 | 8.21% |
| 2023 | $26,477,858.54 | 5.44% |
| 2024 | $27,260,339.98 | 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 |