Miami-Fort Lauderdale, Florida priced at $116,865 in 2016 $162,054.60 in 2024

Miami-fort Lauderdale, Florida Inflation Calculator

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Prices for Miami-fort Lauderdale, Florida, 2016-2024 ($116,865)

According to the U.S. Bureau of Labor Statistics, prices for miami-fort lauderdale, florida are 38.67% higher in 2024 versus 2016 (a $45,189.60 difference in value).

Between 2016 and 2024: Miami-Fort Lauderdale, Florida experienced an average inflation rate of 4.17% per year. This rate of change indicates significant inflation. In other words, miami-fort lauderdale, florida costing $116,865 in the year 2016 would cost $162,054.60 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.38% during this same period, inflation for miami-fort lauderdale, florida was higher.

In the year 2016: Pricing changed by 1.73%, which is below the average yearly change for miami-fort lauderdale, florida during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for miami-fort lauderdale, florida was higher.

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%).

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Buying power of $116,865.00 since 2016

Below are calculations of equivalent buying power for Miami-Fort Lauderdale, Florida, over time, for $116,865 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2016$116,865.001.73%
2017$119,985.322.67%
2018$124,039.343.38%
2019$126,212.461.75%
2020$127,375.750.92%
2021$132,608.624.11%
2022$145,180.169.48%
2023$156,789.378.00%
2024$162,054.603.36%*

* 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
CPI62.00064.58370.85080.80090.00096.56799.683103.417106.333107.883111.667116.617121.367127.683132.183134.367139.000143.367148.667153.400158.383160.450162.292167.658172.867175.350180.425185.267193.967203.600211.893222.080221.195222.980230.565235.073237.996243.012245.416249.670256.337264.998269.640272.125283.305310.163334.965346.213

Adjust miami-fort lauderdale, florida prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Miami-Fort Lauderdale, Florida was 249.670 in the year 2016 and 346.213 in 2024:

346.213 / 249.670 * $116,865 = $162,054.60

Therefore, according to U.S. Bureau of Labor Statistics, $116,865 in 2016 has the same "purchasing power" as $162,054.60 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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