# \$1 in 1960 → \$0.98 in 1958

## Inflation Calculator

\$

### U.S. Inflation Rate, \$1 from 1960 to 1958

According to the Bureau of Labor Statistics consumer price index, prices in 1958 are 2.36% lower than average prices since 1960. The U.S. dollar experienced an average inflation rate of 1.20% per year during this period, meaning the real value of a dollar decreased.

In other words, \$1 in 1960 is equivalent in purchasing power to about \$0.98 in 1958, a difference of \$-0.02 over 2 years.

The 1958 inflation rate was 2.85%. The inflation rate in 1960 was 1.72%. The 1960 inflation rate is lower compared to the average inflation rate of 3.67% per year between 1960 and 2020.

 Cumulative price change -2.36% Average inflation rate 1.20% Converted amount (\$1 base) \$0.98 Price difference (\$1 base) \$-0.02 CPI in 1960 29.600 CPI in 1958 28.900 Inflation in 1958 2.85% Inflation in 1960 1.72%

USD Inflation since 1913
Annual Rate, the Bureau of Labor Statistics CPI

### Buying power of \$1 in 1958

This chart shows a calculation of buying power equivalence for \$1 in 1958 (price index tracking began in 1635).

For example, if you started with \$1, you would need to end with \$0.98 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$0.98 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 1958 dollars, the chart below shows how \$1 buys less over the past 2 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:

Year Dollar Value Inflation Rate
1958 \$1.00 2.85%
1959 \$1.01 0.69%
1960 \$1.02 1.72%
1961 \$1.03 1.01%
1962 \$1.04 1.00%
1963 \$1.06 1.32%
1964 \$1.07 1.31%
1965 \$1.09 1.61%
1966 \$1.12 2.86%
1967 \$1.16 3.09%
1968 \$1.20 4.19%
1969 \$1.27 5.46%
1970 \$1.34 5.72%
1971 \$1.40 4.38%
1972 \$1.45 3.21%
1973 \$1.54 6.22%
1974 \$1.71 11.04%
1975 \$1.86 9.13%
1976 \$1.97 5.76%
1977 \$2.10 6.50%
1978 \$2.26 7.59%
1979 \$2.51 11.35%
1980 \$2.85 13.50%
1981 \$3.15 10.32%
1982 \$3.34 6.16%
1983 \$3.45 3.21%
1984 \$3.60 4.32%
1985 \$3.72 3.56%
1986 \$3.79 1.86%
1987 \$3.93 3.65%
1988 \$4.09 4.14%
1989 \$4.29 4.82%
1990 \$4.52 5.40%
1991 \$4.71 4.21%
1992 \$4.85 3.01%
1993 \$5.00 2.99%
1994 \$5.13 2.56%
1995 \$5.27 2.83%
1996 \$5.43 2.95%
1997 \$5.55 2.29%
1998 \$5.64 1.56%
1999 \$5.76 2.21%
2000 \$5.96 3.36%
2001 \$6.13 2.85%
2002 \$6.22 1.58%
2003 \$6.37 2.28%
2004 \$6.54 2.66%
2005 \$6.76 3.39%
2006 \$6.98 3.23%
2007 \$7.17 2.85%
2008 \$7.45 3.84%
2009 \$7.42 -0.36%
2010 \$7.55 1.64%
2011 \$7.78 3.16%
2012 \$7.94 2.07%
2013 \$8.06 1.46%
2014 \$8.19 1.62%
2015 \$8.20 0.12%
2016 \$8.30 1.26%
2017 \$8.48 2.13%
2018 \$8.69 2.49%
2019 \$8.85 1.76%
2020 \$8.93 0.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

### Inflation by City

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1960 to 1958 (figures shown are purchasing power equivalents of \$1):

San Francisco, California experienced the highest rate of inflation during the 2 years between 1958 and 1960 (2.00%).

Detroit, Michigan experienced the lowest rate of inflation during the 2 years between 1958 and 1960 (0.40%).

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 £0.99 in 1958, an absolute change of £-0.01 and a cumulative change of -1.43%.

In Canada, CA\$1.00 in 1960 would be equivalent to CA\$0.97 in 1958, an absolute change of CA\$-0.03 and a cumulative change of -2.55%.

Compare these numbers to the US's overall absolute change of \$-0.02 and total percent change of -2.36%.

### Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. This chart shows the average rate of inflation for select CPI categories between 1960 and 1958.

Compare these values to the overall average of 1.20% per year:

Category Avg Inflation (%) Total Inflation (%) \$1 in 1958 → 1960
Food and beverages 0.00 0.00 1.00
Housing 0.00 0.00 1.00
Apparel 1.15 2.31 1.02
Transportation 2.04 4.11 1.04
Medical care 3.86 7.88 1.08
Recreation 0.00 0.00 1.00
Education and communication 0.00 0.00 1.00
Other goods and services 0.00 0.00 1.00

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, 1958 to 1960

This inflation calculator uses the following inflation rate formula:

CPI in 1958CPI in 1960
×
1960 USD value
=
1958 USD value

Then plug in historical CPI values. The U.S. CPI was 29.6 in the year 1960 and 28.9 in 1958:

28.929.6
×
\$1
=
\$0.98

\$1 in 1960 has the same "purchasing power" or "buying power" as \$0.98 in 1958.

To get the total inflation rate for the 2 years between 1958 and 1960, we use the following formula:

CPI in 1958 - CPI in 1960CPI in 1960
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

28.9 - 29.629.6
×
100
=
-2%

### Alternate Measurements of Inflation

The above data describe the CPI for all items. Also of note is the Core CPI, which measures inflation for all items except for the more volatile categories of food and energy. Core inflation averaged 1.75% per year between 1960 and 1958 (vs all-CPI inflation of 1.20%), for an inflation total of 3.54%.

When using the core inflation measurement, \$1 in 1960 is equivalent in buying power to \$1.04 in 1958, a difference of \$0.04. Recall that for All Items, the converted amount is \$0.98 with a difference of \$-0.02.

In 1960, core inflation was 2.29%.

Politics and news often influence economic performance. Here's what was happening at the time:

• Johnny Cash plays his first concert in a prison.
• The Bank of France issues new franc currency, worth 100 times the value of old francs.
• France grants independence to Cameroon (previously French Cameroon) after years of fighting.
• Guided missiles are launched for the first time from a nuclear powered submarine

### Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.

You may use the following MLA citation for this page: “\$1 in 1960 → 1958 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 Feb. 2020, https://www.officialdata.org/us/inflation/1960?amount=1&endYear=1958.