According to the U.S. Bureau of Labor Statistics, prices for transportation are 918.18% higher in 2024 versus 1956 (a $78,045,695.50 difference in value).
Between 1956 and 2024: Transportation experienced an average inflation rate of 3.47% per year. This rate of change indicates significant inflation. In other words, transportation costing $8,500,000 in the year 1956 would cost $86,545,695.50 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.65% during this same period, inflation for transportation was lower.
In the year 1956: Pricing changed by 1.79%, which is below the average yearly change for transportation during the 1956-2024 time period. Compared to inflation for all items in 1956 (1.52%), inflation for transportation was higher.
Below are calculations of equivalent buying power for Transportation, over time, for $8,500,000 beginning in 1956. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1956 | $8,500,000.00 | 1.79% |
1957 | $8,973,607.04 | 5.57% |
1958 | $9,270,234.60 | 3.31% |
1959 | $9,654,105.57 | 4.14% |
1960 | $9,651,612.90 | -0.03% |
1961 | $9,761,290.32 | 1.14% |
1962 | $9,965,689.15 | 2.09% |
1963 | $10,020,527.86 | 0.55% |
1964 | $10,170,087.98 | 1.49% |
1965 | $10,337,096.77 | 1.64% |
1966 | $10,484,164.22 | 1.42% |
1967 | $10,783,284.46 | 2.85% |
1968 | $11,127,272.73 | 3.19% |
1969 | $11,556,011.73 | 3.85% |
1970 | $12,149,266.86 | 5.13% |
1971 | $12,787,390.03 | 5.25% |
1972 | $12,936,950.15 | 1.17% |
1973 | $13,345,747.80 | 3.16% |
1974 | $14,841,348.97 | 11.21% |
1975 | $16,234,750.73 | 9.39% |
1976 | $17,850,000.00 | 9.95% |
1977 | $19,108,797.65 | 7.05% |
1978 | $20,003,665.69 | 4.68% |
1979 | $22,855,278.59 | 14.26% |
1980 | $26,925,806.45 | 17.81% |
1981 | $30,186,217.01 | 12.11% |
1982 | $31,430,058.65 | 4.12% |
1983 | $32,180,351.91 | 2.39% |
1984 | $33,608,651.03 | 4.44% |
1985 | $34,496,041.06 | 2.64% |
1986 | $33,154,985.34 | -3.89% |
1987 | $34,157,038.12 | 3.02% |
1988 | $35,211,436.95 | 3.09% |
1989 | $36,973,753.67 | 5.00% |
1990 | $39,052,639.30 | 5.62% |
1991 | $40,126,979.47 | 2.75% |
1992 | $41,004,398.83 | 2.19% |
1993 | $42,243,255.13 | 3.02% |
1994 | $43,519,501.47 | 3.02% |
1995 | $45,077,419.35 | 3.58% |
1996 | $46,348,680.35 | 2.82% |
1997 | $46,752,492.67 | 0.87% |
1998 | $45,870,087.98 | -1.89% |
1999 | $46,792,375.37 | 2.01% |
2000 | $49,686,363.64 | 6.18% |
2001 | $49,985,483.87 | 0.60% |
2002 | $49,534,310.85 | -0.90% |
2003 | $51,057,331.38 | 3.07% |
2004 | $52,852,052.79 | 3.52% |
2005 | $56,354,252.20 | 6.63% |
2006 | $58,607,624.63 | 4.00% |
2007 | $59,845,508.80 | 2.11% |
2008 | $63,367,151.03 | 5.88% |
2009 | $58,086,183.28 | -8.33% |
2010 | $62,669,353.37 | 7.89% |
2011 | $68,816,548.39 | 9.81% |
2012 | $70,427,510.26 | 2.34% |
2013 | $70,451,564.52 | 0.03% |
2014 | $69,974,442.82 | -0.68% |
2015 | $64,506,923.75 | -7.81% |
2016 | $63,154,675.95 | -2.10% |
2017 | $65,316,542.52 | 3.42% |
2018 | $68,264,870.97 | 4.51% |
2019 | $68,071,963.34 | -0.28% |
2020 | $65,241,737.54 | -4.16% |
2021 | $74,743,690.62 | 14.56% |
2022 | $86,303,366.57 | 15.47% |
2023 | $86,513,523.46 | 0.24% |
2024 | $86,545,695.50 | 0.04%* |
* 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 Transportation:
Year | 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 | 14.200 | 14.267 | 14.560 | 14.620 | 14.300 | 14.220 | 14.760 | 16.020 | 15.920 | 15.900 | 15.900 | 16.860 | 18.454 | 20.577 | 22.115 | 22.685 | 24.138 | 25.731 | 26.469 | 26.085 | 25.769 | 26.231 | 27.692 | 28.608 | 29.792 | 29.785 | 30.123 | 30.754 | 30.923 | 31.385 | 31.900 | 32.354 | 33.277 | 34.338 | 35.662 | 37.492 | 39.462 | 39.923 | 41.185 | 45.800 | 50.100 | 55.085 | 58.969 | 61.731 | 70.531 | 83.092 | 93.154 | 96.992 | 99.308 | 103.715 | 106.454 | 102.315 | 105.408 | 108.662 | 114.100 | 120.515 | 123.831 | 126.538 | 130.362 | 134.300 | 139.108 | 143.031 | 144.277 | 141.554 | 144.400 | 153.331 | 154.254 | 152.862 | 157.562 | 163.100 | 173.908 | 180.862 | 184.682 | 195.549 | 179.252 | 193.396 | 212.366 | 217.337 | 217.412 | 215.939 | 199.067 | 194.894 | 201.565 | 210.664 | 210.068 | 201.334 | 230.657 | 266.330 | 266.978 | 267.078 |