Detroit, Michigan prices: $1 in 2006 $1.35 in 2022

Inflation in Michigan


Prices in Detroit, 2006-2022 ($1)

According to the U.S. Bureau of Labor Statistics, prices in Detroit, Michigan are 34.98% higher in 2022 versus 2006 (a $0.35 difference in value).

Between 2006 and 2022: Detroit experienced an average inflation rate of 1.89% per year. In other words, $1 in Detroit in the year 2006 would cost $1.35 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.31% during this same period, inflation in Detroit was lower.

In the year 2006: Pricing changed by 3.07%, which is above the average yearly change in Detroit during the 2006-2022 time period. Compared to inflation for all items in 2006 (3.23%), inflation in Detroit was lower.

Price Inflation in Detroit, Michigan since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1920 (21.92%), 1918 (21.89%), and 1919 (21.46%).

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Buying power of $1.00 since 2006

Below are calculations of equivalent buying power in Detroit, over time, for $1 beginning in 2006. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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:


Adjust Detroit prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 2006 * 2006 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Detroit, Michigan was 196.400 in the year 2006 and 265.094 in 2022:

265.094 / 196.400 * $1 = $1.35

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 2006 has the same "purchasing power" as $1.35 in 2022 (in the CPI category of Detroit, Michigan).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Detroit, Michigan in 1914. In addition to Detroit, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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