Miami-Fort Lauderdale, Florida priced at $23,500 in 1987 $72,142.54 in 2024

Miami-fort Lauderdale, Florida Inflation Calculator

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Prices for Miami-fort Lauderdale, Florida, 1987-2024 ($23,500)

According to the U.S. Bureau of Labor Statistics, prices for miami-fort lauderdale, florida are 206.99% higher in 2024 versus 1987 (a $48,642.54 difference in value).

Between 1987 and 2024: Miami-Fort Lauderdale, Florida experienced an average inflation rate of 3.08% per year. This rate of change indicates significant inflation. In other words, miami-fort lauderdale, florida costing $23,500 in the year 1987 would cost $72,142.54 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.74% during this same period, inflation for miami-fort lauderdale, florida was higher.

In the year 1987: Pricing changed by 3.51%, which is above the average yearly change for miami-fort lauderdale, florida during the 1987-2024 time period. Compared to inflation for all items in 1987 (3.66%), inflation for miami-fort lauderdale, florida was lower.

Price Inflation for Miami-Fort Lauderdale, Florida since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (14.04%), 1981 (11.39%), and 1979 (9.70%).

View price changes for other categories
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Buying power of $23,500.00 since 1987

Below are calculations of equivalent buying power for Miami-Fort Lauderdale, Florida, over time, for $23,500 beginning in 1987. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1987$23,500.003.51%
1988$24,541.724.43%
1989$25,541.344.07%
1990$26,870.675.20%
1991$27,817.693.52%
1992$28,277.161.65%
1993$29,252.243.45%
1994$30,171.193.14%
1995$31,286.573.70%
1996$32,282.693.18%
1997$33,331.423.25%
1998$33,766.341.30%
1999$34,153.921.15%
2000$35,283.323.31%
2001$36,379.403.11%
2002$36,902.011.44%
2003$37,970.042.89%
2004$38,988.962.68%
2005$40,819.854.70%
2006$42,847.164.97%
2007$44,592.434.07%
2008$46,736.194.81%
2009$46,549.98-0.40%
2010$46,925.610.81%
2011$48,521.943.40%
2012$49,470.671.96%
2013$50,085.831.24%
2014$51,141.242.11%
2015$51,647.270.99%
2016$52,542.561.73%
2017$53,945.462.67%
2018$55,768.153.38%
2019$56,745.191.75%
2020$57,268.200.92%
2021$59,620.904.11%
2022$65,273.079.48%
2023$70,492.588.00%
2024$72,142.542.34%*

* 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 Miami-Fort Lauderdale, Florida:

Year197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI62.00064.58370.85080.80090.00096.56799.683103.417106.333107.883111.667116.617121.367127.683132.183134.367139.000143.367148.667153.400158.383160.450162.292167.658172.867175.350180.425185.267193.967203.600211.893222.080221.195222.980230.565235.073237.996243.012245.416249.670256.337264.998269.640272.125283.305310.163334.965342.805

Adjust miami-fort lauderdale, florida prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1987 * 1987 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Miami-Fort Lauderdale, Florida was 111.667 in the year 1987 and 342.805 in 2024:

342.805 / 111.667 * $23,500 = $72,142.54

Therefore, according to U.S. Bureau of Labor Statistics, $23,500 in 1987 has the same "purchasing power" as $72,142.54 in 2024 (in the CPI category of Miami-Fort Lauderdale, Florida).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Miami-Fort Lauderdale, Florida in 1977. In addition to miami-fort lauderdale, florida, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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