New York prices: $1 in 1971 $7.10 in 2022

Inflation in New York

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Prices in New York, 1971-2022 ($1)

According to the U.S. Bureau of Labor Statistics, prices in New York are 610.05% higher in 2022 versus 1971 (a $6.10 difference in value).

Between 1971 and 2022: New York experienced an average inflation rate of 3.92% per year. This rate of change indicates significant inflation. In other words, $1 in New York in the year 1971 would cost $7.10 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.95% during this same period, inflation in New York was lower.

In the year 1971: Pricing changed by 5.79%, which is above the average yearly change in New York during the 1971-2022 time period. Compared to inflation for all items in 1971 (4.30%), inflation in New York was higher.

Price Inflation in New York since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (22.12%), 1918 (22.09%), and 1920 (17.24%).

View price changes for other categories
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Buying power of $1.00 since 1971

Below are calculations of equivalent buying power in New York, over time, for $1 beginning in 1971. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1971$1.005.79%
1972$1.044.40%
1973$1.116.36%
1974$1.2310.76%
1975$1.327.60%
1976$1.405.87%
1977$1.475.21%
1978$1.565.74%
1979$1.698.66%
1980$1.8811.29%
1981$2.079.84%
1982$2.195.78%
1983$2.294.72%
1984$2.415.01%
1985$2.503.70%
1986$2.583.28%
1987$2.715.05%
1988$2.844.86%
1989$3.005.56%
1990$3.186.11%
1991$3.334.52%
1992$3.453.61%
1993$3.552.99%
1994$3.632.38%
1995$3.722.51%
1996$3.832.94%
1997$3.922.33%
1998$3.991.63%
1999$4.071.94%
2000$4.193.11%
2001$4.302.55%
2002$4.412.55%
2003$4.543.07%
2004$4.703.53%
2005$4.893.88%
2006$5.073.78%
2007$5.212.81%
2008$5.423.90%
2009$5.440.44%
2010$5.531.71%
2011$5.692.85%
2012$5.801.97%
2013$5.901.68%
2014$5.981.32%
2015$5.990.13%
2016$6.051.08%
2017$6.171.96%
2018$6.291.91%
2019$6.391.65%
2020$6.501.71%
2021$6.713.32%
2022$7.105.75%*

* 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 New York:

Year1914191519161917191819191920192119221923192419251926192719281929193019311932193319341935193619371938193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI9.9009.91710.20011.50814.05017.15820.11718.40817.28317.45817.49217.76718.26718.05017.87517.80817.57516.36714.95013.93314.19214.37514.55014.86714.61714.55014.70015.25016.71717.96718.40018.82520.68323.16724.74224.46724.60826.44226.90027.04227.20827.08327.48328.35829.20829.65030.19230.45830.92531.60032.09232.60833.70834.58336.07538.30841.15043.53345.45048.34253.54257.60860.99264.16767.85073.72582.05090.12595.33399.833104.833108.708112.275117.950123.683130.558138.542144.800150.025154.508158.183162.158166.925170.817173.608176.983182.483187.133191.900197.792204.767212.708220.742226.940235.782236.825240.864247.718252.588256.833260.230260.558263.365268.520273.640278.164282.920292.303309.106

Adjust New York prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1971 * 1971 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for New York was 43.533 in the year 1971 and 309.106 in 2022:

309.106 / 43.533 * $1 = $7.10

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 1971 has the same "purchasing power" as $7.10 in 2022 (in the CPI category of New York).


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

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