$2,800,000,000 in 2020 is worth $1,736,397,766.72 in 1997

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Value of $2,800,000,000 from 2020 to 1997

$2,800,000,000 in 2020 is equivalent in purchasing power to about $1,736,397,766.72 in 1997, an increase of $-1,063,602,233.28 over 23 years. The dollar had an average inflation rate of 2.10% per year between 1997 and 2020, producing a cumulative price increase of -37.99%.

This means that prices in 1997 are 37.99% lower than average prices since 2020, according to the Bureau of Labor Statistics consumer price index.

The inflation rate in 1997 was 2.29%. The inflation rate in 2020 was 1.23%. The 2020 inflation rate is lower compared to the average inflation rate of 4.64% per year between 2020 and 2024.


Inflation from 2020 to 1997
Cumulative price change-37.99%
Average inflation rate2.10%
Converted amount
$2,800,000,000 base
$1,736,397,766.72
Price difference
$2,800,000,000 base
$-1,063,602,233.28
CPI in 2020258.812
CPI in 1997160.500
Inflation in 19972.29%
Inflation in 20201.23%
$2,800,000,000 in 2020$1,736,397,766.72 in 1997

USD inflation since 1997
Annual Rate, the Bureau of Labor Statistics CPI
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Buying power of $2,800,000,000 in 1997

This chart shows a calculation of buying power equivalence for $2,800,000,000 in 1997 (price index tracking began in 1635).

For example, if you started with $2,800,000,000, you would need to end with $1,736,397,766.72 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $2,800,000,000 is equivalent to $1,736,397,766.72 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 1997 dollars, the chart below shows how $2,800,000,000 is worth less over 23 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: 1997-2020
YearDollar ValueInflation Rate
1997$2,800,000,000.002.29%
1998$2,843,613,707.171.56%
1999$2,906,417,445.482.21%
2000$3,004,112,149.533.36%
2001$3,089,595,015.582.85%
2002$3,138,442,367.601.58%
2003$3,209,968,847.352.28%
2004$3,295,451,713.402.66%
2005$3,407,102,803.743.39%
2006$3,517,009,345.793.23%
2007$3,617,181,308.412.85%
2008$3,756,064,797.513.84%
2009$3,742,701,557.63-0.36%
2010$3,804,092,211.841.64%
2011$3,924,169,470.403.16%
2012$4,005,378,193.152.07%
2013$4,064,047,352.021.46%
2014$4,129,973,831.781.62%
2015$4,134,876,012.460.12%
2016$4,187,038,006.231.26%
2017$4,276,236,760.122.13%
2018$4,382,828,660.442.49%
2019$4,460,068,535.831.76%
2020$4,515,094,496.371.23%
2021$4,727,205,399.794.70%
2022$5,105,522,326.068.00%
2023$5,315,676,427.834.12%
2024$5,413,786,915.891.85%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 17 more rows

This conversion table shows various other 1997 amounts in 2020 dollars, based on the -37.99% change in prices:

Conversion: 1997 dollars in 2020
Initial valueEquivalent value
$1 dollar in 1997$1.61 dollars in 2020
$5 dollars in 1997$8.06 dollars in 2020
$10 dollars in 1997$16.13 dollars in 2020
$50 dollars in 1997$80.63 dollars in 2020
$100 dollars in 1997$161.25 dollars in 2020
$500 dollars in 1997$806.27 dollars in 2020
$1,000 dollars in 1997$1,612.53 dollars in 2020
$5,000 dollars in 1997$8,062.67 dollars in 2020
$10,000 dollars in 1997$16,125.34 dollars in 2020
$50,000 dollars in 1997$80,626.69 dollars in 2020
$100,000 dollars in 1997$161,253.37 dollars in 2020
$500,000 dollars in 1997$806,266.87 dollars in 2020
$1,000,000 dollars in 1997$1,612,533.75 dollars in 2020

Inflation by City

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 2020 to 1997 (figures shown are purchasing power equivalents of $2,800,000,000):

  • San Diego, California: 4.19% average rate, $2,800,000,000 → $7,198,505,632.04, cumulative change of 157.09%
  • Seattle, Washington: 4.12% average rate, $2,800,000,000 → $7,082,461,859.98, cumulative change of 152.95%
  • Atlanta, Georgia: 3.28% average rate, $2,800,000,000 → $5,881,891,327.51, cumulative change of 110.07%
  • San Francisco, California: 2.76% average rate, $2,800,000,000 → $5,236,554,297.00, cumulative change of 87.02%
  • Tampa, Florida: 2.45% average rate, $2,800,000,000 → $4,886,292,537.31, cumulative change of 74.51%
  • Denver, Colorado: 2.39% average rate, $2,800,000,000 → $4,820,870,335.23, cumulative change of 72.17%
  • Miami-Fort Lauderdale, Florida: 2.38% average rate, $2,800,000,000 → $4,810,805,429.86, cumulative change of 71.81%
  • Boston, Massachusetts: 2.32% average rate, $2,800,000,000 → $4,740,457,290.43, cumulative change of 69.30%
  • New York: 2.22% average rate, $2,800,000,000 → $4,637,573,421.80, cumulative change of 65.63%
  • Minneapolis-St Paul, Minnesota: 2.14% average rate, $2,800,000,000 → $4,558,504,504.50, cumulative change of 62.80%
  • Dallas-Fort Worth, Texas: 2.01% average rate, $2,800,000,000 → $4,422,908,309.93, cumulative change of 57.96%
  • Houston, Texas: 2.00% average rate, $2,800,000,000 → $4,412,526,038.08, cumulative change of 57.59%
  • Philadelphia, Pennsylvania: 1.94% average rate, $2,800,000,000 → $4,352,844,898.37, cumulative change of 55.46%
  • St Louis, Missouri: 1.85% average rate, $2,800,000,000 → $4,265,119,686.07, cumulative change of 52.33%
  • Detroit, Michigan: 1.84% average rate, $2,800,000,000 → $4,260,759,312.63, cumulative change of 52.17%
  • Chicago, Illinois: 1.80% average rate, $2,800,000,000 → $4,222,251,970.94, cumulative change of 50.79%

San Diego, California experienced the highest rate of inflation during the 23 years between 1997 and 2020 (4.19%).

Chicago, Illinois experienced the lowest rate of inflation during the 23 years between 1997 and 2020 (1.80%).

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 £2,800,000,000.00 in 2020 would be equivalent to £1,510,251,358.58 in 1997, an absolute change of £-1,289,748,641.42 and a cumulative change of -46.06%.

In Canada, CA$2,800,000,000.00 in 2020 would be equivalent to CA$1,847,471,858.91 in 1997, an absolute change of CA$-952,528,141.09 and a cumulative change of -34.02%.

Compare these numbers to the US's overall absolute change of $-1,063,602,233.28 and total percent change of -37.99%.


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.

Between 1997 and 2020:

This chart shows the average rate of inflation for select CPI categories between 2020 and 1997.

Compare these values to the overall average of 2.10% per year:

CategoryAvg Inflation (%)Total Inflation (%)$2,800,000,000 in 1997 → 2020
Food and beverages2.3169.034,732,828,830.59
Housing2.4273.354,853,802,266.82
Apparel-0.51-11.122,488,601,933.88
Transportation1.4639.553,907,318,191.51
Medical care3.51121.196,193,294,071.35
Recreation0.8922.693,435,456,454.60
Education and communication1.5542.533,990,712,198.17
Other goods and services3.19105.695,759,259,401.20

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 2020. This table and charts use the earliest available data for each category.



How to calculate inflation rate for $2,800,000,000, 1997 to 2020

Our calculations use the following inflation rate formula to calculate the change in value between 1997 and 2020:

CPI in 1997 CPI in 2020
×
2020 USD value
=
1997 USD value

Then plug in historical CPI values. The U.S. CPI was 258.81166666667 in the year 2020 and 160.5 in 1997:

160.5258.81166666667
×
$2,800,000,000
=
$1,736,397,766.72

$2,800,000,000 in 2020 has the same "purchasing power" or "buying power" as $1,736,397,766.72 in 1997.

To get the total inflation rate for the 23 years between 1997 and 2020, we use the following formula:

CPI in 1997 - CPI in 2020CPI in 2020
×
100
=
Cumulative inflation rate (23 years)

Plugging in the values to this equation, we get:

160.5 - 258.81166666667258.81166666667
×
100
=
-38%

Alternate Measurements of Inflation

There are multiple ways to measure inflation. Published rates of inflation will vary depending on methodology. The Consumer Price Index, used above, is the most common standard used globally.

Alternative measurements are sometimes used based on context and economic/political circumstances. Below are a few examples of alternative measurements.

Personal Consumption Expenditures (PCE) Inflation

The PCE Price Index is the U.S. Federal Reserve's preferred measure of inflation, compiled by the Bureau of Economic Analysis. It measures the change in prices of goods and services purchased by consumers.

The PCE Price Index changed by 1.74% per year on average between 2020 and 1997. The total PCE inflation between these dates was 48.61%. In 2020, PCE inflation was 1.74%.

This means that the PCE Index equates $2,800,000,000 in 2020 with $4,161,208,784.19 in 1997, a difference of $1,361,208,784.19. Compare this to the standard CPI measurement, which equates $2,800,000,000 with $1,736,397,766.72. The PCE measured 86.60% inflation compared to standard CPI.

For more information on the difference between PCE and CPI, see this analysis provided by the Bureau of Labor Statistics.

Core Inflation

Also of note is the Core CPI, which uses the standard CPI but omits the more volatile categories of food and energy.

Core inflation averaged 2.01% per year between 2020 and 1997 (vs all-CPI inflation of 2.10%), for an inflation total of 57.92%. In 2020, core inflation was 2.38%.

When using the core inflation measurement, $2,800,000,000 in 2020 is equivalent in buying power to $4,421,864,040.66 in 1997, a difference of $1,621,864,040.66. Recall that the converted amount is $1,736,397,766.72 when all items including food and energy are measured.


Data source & citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (CPI), established in 1913. Price index data from 1774 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. Price index data from 1634 to 1773 is from the American Antiquarian Society, using British pound equivalents.

You may use the following MLA citation for this page: “$2,800,000,000 in 2020 → 1997 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Mar. 2024, https://www.officialdata.org/us/inflation/2020?endYear=1997&amount=2800000000.

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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» Read more about inflation and investment.

Inflation from 2020 to 1997
Cumulative price change-37.99%
Average inflation rate2.10%
Converted amount
$2,800,000,000 base
$1,736,397,766.72
Price difference
$2,800,000,000 base
$-1,063,602,233.28
CPI in 2020258.812
CPI in 1997160.500
Inflation in 19972.29%
Inflation in 20201.23%
$2,800,000,000 in 2020$1,736,397,766.72 in 1997