$1 in 1960 is worth $0.92 in 1956

Value of $1 from 1960 to 1956

$1 in 1960 is equivalent in purchasing power to about $0.92 in 1956, an increase of $-0.08 over 4 years. The dollar had an average inflation rate of 2.14% per year between 1956 and 1960, producing a cumulative price increase of -8.11%.

This means that prices in 1956 are 8.11% lower than average prices since 1960, according to the Bureau of Labor Statistics consumer price index.

The inflation rate in 1956 was 1.49%. The inflation rate in 1960 was 1.72%. The 1960 inflation rate is lower compared to the average inflation rate of 3.78% per year between 1960 and 2022.


Inflation from 1960 to 1956
Cumulative price change-8.11%
Average inflation rate2.14%
Converted amount ($1 base)$0.92
Price difference ($1 base)$-0.08
CPI in 196029.600
CPI in 195627.200
Inflation in 19561.49%
Inflation in 19601.72%
$1 in 1960$0.92 in 1956

USD inflation since 1956
Annual Rate, the Bureau of Labor Statistics CPI
Download

Buying power of $1 in 1956

This chart shows a calculation of buying power equivalence for $1 in 1956 (price index tracking began in 1635).

For example, if you started with $1, you would need to end with $0.92 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $0.92 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1956 dollars, the chart below shows how $1 is worth less over 4 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1956-1960
YearDollar ValueInflation Rate
1956$1.001.49%
1957$1.033.31%
1958$1.062.85%
1959$1.070.69%
1960$1.091.72%
1961$1.101.01%
1962$1.111.00%
1963$1.131.32%
1964$1.141.31%
1965$1.161.61%
1966$1.192.86%
1967$1.233.09%
1968$1.284.19%
1969$1.355.46%
1970$1.435.72%
1971$1.494.38%
1972$1.543.21%
1973$1.636.22%
1974$1.8111.04%
1975$1.989.13%
1976$2.095.76%
1977$2.236.50%
1978$2.407.59%
1979$2.6711.35%
1980$3.0313.50%
1981$3.3410.32%
1982$3.556.16%
1983$3.663.21%
1984$3.824.32%
1985$3.963.56%
1986$4.031.86%
1987$4.183.65%
1988$4.354.14%
1989$4.564.82%
1990$4.815.40%
1991$5.014.21%
1992$5.163.01%
1993$5.312.99%
1994$5.452.56%
1995$5.602.83%
1996$5.772.95%
1997$5.902.29%
1998$5.991.56%
1999$6.132.21%
2000$6.333.36%
2001$6.512.85%
2002$6.611.58%
2003$6.762.28%
2004$6.942.66%
2005$7.183.39%
2006$7.413.23%
2007$7.622.85%
2008$7.923.84%
2009$7.89-0.36%
2010$8.021.64%
2011$8.273.16%
2012$8.442.07%
2013$8.561.46%
2014$8.701.62%
2015$8.710.12%
2016$8.821.26%
2017$9.012.13%
2018$9.242.49%
2019$9.401.76%
2020$9.521.23%
2021$9.964.70%
2022$10.899.30%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1956 amounts in 1960 dollars, based on the -8.11% change in prices:

Conversion: 1956 dollars in 1960
Initial valueEquivalent value
$1 dollar in 1956$1.09 dollars in 1960
$5 dollars in 1956$5.44 dollars in 1960
$10 dollars in 1956$10.88 dollars in 1960
$50 dollars in 1956$54.41 dollars in 1960
$100 dollars in 1956$108.82 dollars in 1960
$500 dollars in 1956$544.12 dollars in 1960
$1,000 dollars in 1956$1,088.24 dollars in 1960
$5,000 dollars in 1956$5,441.18 dollars in 1960
$10,000 dollars in 1956$10,882.35 dollars in 1960
$50,000 dollars in 1956$54,411.76 dollars in 1960
$100,000 dollars in 1956$108,823.53 dollars in 1960
$500,000 dollars in 1956$544,117.65 dollars in 1960
$1,000,000 dollars in 1956$1,088,235.29 dollars in 1960

Inflation by City

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1960 to 1956 (figures shown are purchasing power equivalents of $1):

San Francisco, California experienced the highest rate of inflation during the 4 years between 1956 and 1960 (2.98%).

Detroit, Michigan experienced the lowest rate of inflation during the 4 years between 1956 and 1960 (1.27%).

Note that some locations showing 0% inflation may have not yet reported latest data.


Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £1.00 in 1960 would be equivalent to £0.92 in 1956, an absolute change of £-0.08 and a cumulative change of -7.74%.

In Canada, CA$1.00 in 1960 would be equivalent to CA$0.92 in 1956, an absolute change of CA$-0.08 and a cumulative change of -7.83%.

Compare these numbers to the US's overall absolute change of $-0.08 and total percent change of -8.11%.


Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes.

This chart shows the average rate of inflation for select CPI categories between 1960 and 1956.

Compare these values to the overall average of 2.14% per year:

CategoryAvg Inflation (%)Total Inflation (%)$1 in 1956 → 1960
Food and beverages0.000.001.00
Housing0.000.001.00
Apparel1.104.471.04
Transportation3.2313.551.14
Medical care4.1617.701.18
Recreation0.000.001.00
Education and communication0.000.001.00
Other goods and services0.000.001.00

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1960. This table and charts use the earliest available data for each category.



How to calculate inflation rate for $1, 1956 to 1960

Our calculations use the following inflation rate formula to calculate the change in value between 1956 and 1960:

CPI in 1956 CPI in 1960
×
1960 USD value
=
1956 USD value

Then plug in historical CPI values. The U.S. CPI was 29.6 in the year 1960 and 27.2 in 1956:

27.229.6
×
$1
=
$0.92

$1 in 1960 has the same "purchasing power" or "buying power" as $0.92 in 1956.

To get the total inflation rate for the 4 years between 1956 and 1960, we use the following formula:

CPI in 1956 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

27.2 - 29.629.6
×
100
=
-8%

Data source & citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (CPI), established in 1913. Inflation data from 1634 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University and from the American Antiquarian Society.

You may use the following MLA citation for this page: “$1 in 1960 → 1956 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 4 Oct. 2022, https://www.officialdata.org/us/inflation/1960?amount=1&endYear=1956.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1960 to 1956
Cumulative price change-8.11%
Average inflation rate2.14%
Converted amount ($1 base)$0.92
Price difference ($1 base)$-0.08
CPI in 196029.600
CPI in 195627.200
Inflation in 19561.49%
Inflation in 19601.72%
$1 in 1960$0.92 in 1956