***Price subject to standard supply and demand laws, dealer premiums, and other market variations. In 1965, PCE inflation was 1.44%. Inflation can also vary widely by country. Minor discrepancies can occur because we use the latest CPI data for inflation, annualized inflation numbers for previous years, and we compute S&P price and dividends from January of 1960 to latest available data for 2023 using average monthly close price. In 1950, for example, a dollar was worth $10.63 in today's money, and in 1980, it was worth $3.10. Ian earned his degree in Computer Science from Dartmouth College. These numbers are not inflation adjusted, so they are considered nominal. Please try again. Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. The compounding effect of inflation would account for 89.47% of returns ($1,115.34) during this period. The most exciting thing is you can find some of these rare, valuable pennies easily because they're still in circulation. 1937 "No-VDB" and 1937 "V-nickel" Buffalo nickel value ranges from approximate retail prices of $2.26 for a common, heavily circulated example up to $41.73 for one in very nice condition with its original mint luster intact. Accounting for inflation, what is 5 cents in 1964 worth in today's dollars? The inflation rate in 1960 was 1.72%. For more information on the difference between PCE and CPI, see this analysis provided by the Bureau of Labor Statistics. Recall that the converted amount is $5.05 when all items including food and energy are measured. This chart shows a calculation of buying power equivalence for $0.50 in 1960 (price index tracking began in 1635). The dollar had an average inflation rate of 3.96% per year between 1965 and today, producing a cumulative price increase of 849.75%. This calculates the cost of living increases from 1966 and inflation of the US Dollar. The PCE measured -263.71% inflation compared to standard CPI. In 1965, PCE inflation was 1.44%. Key dates: 1938-D, 1939-D, 1939-S, 1950-D The Jefferson nickel series is the longest running of the five-cent denomination, and the original design remained in use without significant changes for more than six decades. Below are a few examples of alternative measurements. By calculating the value in 1960 dollars, the chart below shows how $5 is worth less over 63 years. . Compare these numbers to the US's overall absolute change of $8.50 and total percent change of 849.75%. Inflation Results had the same purchasing power as $0.48 in 2023 Value of 5 cents in 1964 Chicago, Illinois experienced the lowest rate of inflation during the 58 years between 1965 and 2023 (3.81%). It's a tiny thing, weighing in at just under 3 grams and only 19.4mm in diameter. The U.S. CPI was 31.5 in the year 1965 and 299.17 in 2023: $5 in 1965 has the same "purchasing power" or "buying power" as $47.49 in 2023. In 1965, PCE inflation was 1.44%. Inflation can also vary widely by country. CPI is the weighted combination of many categories of spending that are tracked by the government. $1 adjusted for inflation since 1965 - How much is $1 in 1965 worth today due to inflation? A coin valued at five cents was the first official coin of the United States (in 1792), but nickels did not appear in the U.S. until 1866. It measures the change in prices of goods and services purchased by consumers. The U.S. CPI was 31.5 in the year 1965 and 299.17 in 2023: $100 in 1965 has the same "purchasing power" or "buying power" as $949.75 in 2023. Note that some locations showing 0% inflation may have not yet reported latest data. When we have both the start and end years, we can use the following formula: To obtain the values equivalent in buying power between 1965 and 2022, use the corresponding CPI values: To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 126.89: Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV (1 + i)n, where: In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. This means that today's prices are 9.50 times as high as average prices since 1965, according to the Bureau of Labor Statistics consumer price index. Chicago, Illinois experienced the lowest rate of inflation during the 58 years between 1965 and 2023 (3.81%). For more details on the S&P 500 between 1965 and 2023, see the stock market returns calculator. Note that some locations showing 0% inflation may have not yet reported latest data. 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. Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. The Australian 5 cent coin, first minted in 1966 and still used today is one of the most commonly seen coins in your change. 5 cents, 1958-1967 Nickel-Brass, 2.6g, 16.5mm KM# 29.1 Worth: $ 0.26 5 cents, 1971-1979 Nickel-Brass, 2.6g, 16.5mm KM# 29.3 Worth: $ 0.32 5 cents, 1988 Nickel-Brass, 2.6g, 16.5mm KM# 61 Worth: $ 13.95 10 cents, 1955-1968 Nickel-Brass, 4.46g, 20.5mm KM# 28.1 Worth: $ 0.27 10 cents, 1971-1980 Alternative measurements are sometimes used based on context and economic/political circumstances. 25 cents 1965-1966 silver 0.800 25 CENTS / CANADA 1965 ELIZABETH II DEI GRATIA REGINA Coin value - $4-6 . The government calculates a variety of prices, The PCE Price Index is the U.S. Federal Reserve's preferred measure of inflation, compiled by the Bureau of Economic Analysis. This means that today's prices are 9.50 times as high as average prices since 1965, according to the Bureau of Labor Statistics consumer price index. For example, if you started with $1, you would need to end with $9.50 in order to "adjust" for inflation (sometimes refered to as "beating inflation"). The compounding effect of inflation would account for 0.00% of returns ($0.00) during this period. The PCE measured -263.71% inflation compared to standard CPI. This website requires JavaScript to run properly. Minor discrepancies can occur because we use the latest CPI data for inflation, annualized inflation numbers for previous years, and we compute S&P price and dividends from January of 1965 to latest available data for 2023 using average monthly close price. A dollar today only buys 9.901% of what it could buy back then. Before 1996, if specimen coins have been removed from their protective envelope or original package, it is harder to differentiate them from PL coins. Other Amounts in 1965. We offer reliable real coin melt conversions and hand written stats on each and every coin in our database. $0.50 in 1960 is equivalent in purchasing power to about $5.05 today, an increase of $4.55 over 63 years. Inflation data is provided by governments and international institutions on a monthly basis. Our calculations use the following inflation rate formula to calculate the change in value between 1965 and today: Then plug in historical CPI values. This means that the PCE Index equates $5 in 1960 with $37.35 in 2023, a difference of $32.35. Annual Rate, the Bureau of Labor Statistics CPI. The inflation rate in 1965 was 1.61%. such as milk, bread, a new car, an apartment, etc, and creates the Consumer Price Index (CPI). Below are a few examples of alternative measurements. For more details on the S&P 500 between 1960 and 2023, see the stock market returns calculator. Compare these numbers to the US's overall absolute change of $45.54 and total percent change of 910.71%. A dollar today only buys 10.529% of what it could buy back then. The current inflation rate compared to last year is now 6.41%. The current inflation rate page gives more detail on the latest inflation rates. divide it by the CPI in 1964, and multiply it by 5 cents. $4.99. Ian Webster is an engineer and data expert based in San Mateo, California. In 1965, core inflation was 1.43%. For comparison, in the UK 5.00 in 1965 would be equivalent to 123.87 in 2023, an absolute change of 118.87 and a cumulative change of 2,377.31%. The melt and minimum value of a 5 cents 1965 is $0.12 CAD. CINCO CENTAVOS Mo 1963 Translation: Five cents Mexico City Mint 1963 Edge Smooth Harryg ( CC BY) Mint Mo Casa de Moneda de Mxico, Mexico, Mexico (1535-date) Comments NOTE: Regarding the 1954 issues, these were minted without proper legislation and most were withdrawn and subsequently replaced with the larger KM#424. We use user submitted pictures please read that article if you are interested in adding your own. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. com estimates the value of a 1973 D Washington Quarter in average condition to be worth 25 cents, while one in mint state could be valued around $5. For example, if you started with $0.50, you would need to end with $5.05 in order to "adjust" for inflation (sometimes refered to as "beating inflation"). Feel free to let us know in the discussion board if you see one picture that need to be fixed. 05 in Average Condition and can be Worth $0. Information displayed above may differ slightly from other S&P 500 calculators. When $0.50 is equivalent to $5.05 over time, that means that the "real value" of a single U.S. dollar decreases over time. Inflation can also vary widely by country. Use the above calc to find what zero point five dollars in 1965 is worth today. The most valuable 1965 penny to ever cross the auction block was graded MS67RB by Professional Coin Grading Service and sold for $690 in a 2012 auction. 4 How much was 40 cents 1950? Yes, getting a 1965 quarter coin is worth every effort because at least one 1965 coin has a value of about $7, 500 and is considered a rare metal. The PCE Price Index changed by 3.48% per year on average between 1965 and 2023. To get the total inflation rate for the 58 years between 1965 and 2023, we use the following formula: Plugging in the values to this equation, we get: There are multiple ways to measure inflation. The dollar had an average inflation rate of 1.43% per year between 1800 and today, producing a cumulative price increase of 2,274.37%. The total PCE inflation between these dates was 647.00%. This 4 cent US postage stamp featuring President Abraham Lincoln was issued on 19 November, 1965 as part of the Prominent Americans Issue between 1965 -1978 and features an instantly recognisable and almost iconic profile portrait of the assassinated president. The average inflation rate of 3.74% has a compounding effect between 1960 and 2023. Ten Cents 1965 (English) The South African Ten Cents coin (abbreviated as 10c) is currently the smallest circulating coin of the Rand currency - after the 5c denomination was withdrawn in 2012. This calculates the cost of living increases from 1965 and inflation of the US Dollar. Value of $1 from 1800 to 2023 $1 in 1800 is equivalent in purchasing power to about $23.74 today, an increase of $22.74 over 223 years. The total PCE inflation between these dates was 601.73%. Inflation can also vary widely by country. The current inflation rate compared to last year is now 6.41%. The PCE Price Index changed by 3.48% per year on average between 1965 and 2023. Compare these numbers to the US's overall absolute change of $4.55 and total percent change of 910.71%. A crisp, near-mint 1976 two dollar bill is worth anywhere from face 50 Cent Coin DDR. If this number holds, $1 today will be equivalent in buying power to $1.06 next year. Also called Brilliant uncirculated (BUNC). In other words, the purchasing power of $100 in 1965 equals $954.5 today. This means the inflation-adjusted real return of our $5 investment is $209.25. In 1960, PCE inflation was 1.64%. A 1997 poll reported that Americans had an average estimate of 20% for NASA's share of the federal budget, far higher than the actual 0.5% to under 1% that has been maintained throughout the late '90s and first decade of the 2000s. Virtually overnight, production of the five-cent coin shifted from an alloy consisting of 75% copper, 25% nickel to a 56% copper, 35% silver, 9% manganese format. in2013dollars.com is a reference website maintained by the Official Data Foundation. Even though it might make it seem as if everything was cheaper back in the day, don't forget about a little thing called inflation. The inflation rate in the United States between 1965 and today has been 854.5%, which translates into a total increase of $854.5. Here's how some cities fared in 1960 to 2023 (figures shown are purchasing power equivalents of $5): San Francisco, California experienced the highest rate of inflation during the 63 years between 1960 and 2023 (4.01%). In 1960, core inflation was 1.50%. The total PCE inflation between these dates was 601.73%. 2006 - Present: New Monticello Reverse. See also Eagle Reptile Manage my collection To help put this inflation into perspective, if we had invested $0.50 in the S&P 500 index in 1960, our investment would be nominally worth approximately $216.55 in 2023. This chart shows the average rate of inflation for select CPI categories between 1965 and 2023. Accounting for inflation, what is 50 cents in 1965 worth in today's dollars? To get the total inflation rate for the 58 years between 1965 and 2023, we use the following formula: Plugging in the values to this equation, we get: There are multiple ways to measure inflation. Denomination 5 Cents Currency Cent Metal Nickel Krause catalog KM# 57 Ruler Elizabeth II Weight 4.54 g. Diameter 21.2 mm. Issue Date: November 2, 1965. It measures the change in prices of goods and services purchased by consumers. Coin Values Moving with Precious Metals: Up-Dated 2/27/2023: Gold $1807 | Silver $20.63 1963 Nickel Value Using a few steps identifies on the chart your 1963 nickel value. These numbers are not inflation adjusted, so they are considered nominal. Therefore, we can resolve the formula like this: 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 |, n: Number of times the interest is compounded (i.e. Compare this to the standard CPI measurement, which equates $0.50 with $5.05. The average inflation rate of 3.96% has a compounding effect between 1965 and 2023. These numbers are not inflation adjusted, so they are considered nominal. The Consumer Price Index, used above, is the most common standard used globally. To calculate, find the CPI in the current year, divide it by the CPI in 1965, and multiply it by 5 cents. To calculate, find the CPI in the current year, divide it by the CPI in 1964, and multiply it by 5 cents. and mint state meaning it is certified MS+ by one of the top coin grading companies. Also of note is the Core CPI, which uses the standard CPI but omits the more volatile categories of food and energy. This means that 100 dollars in 1965 are equivalent to 954.5 dollars in 2023. The inflation rate in 1965 was 1.61%. Here's how some cities fared in 1965 to 2023 (figures shown are purchasing power equivalents of $100): San Francisco, California experienced the highest rate of inflation during the 58 years between 1965 and 2023 (4.23%). Information displayed above may differ slightly from other S&P 500 calculators. 5 What was a pound worth in 1965? Cows and bovines; 5 Cents "Buffalo Nickel" (raised ground) Manage my collection. You may also want to account for capital gains tax, which would take your real return down to around $21 for most people. 1965 Commemorative Stamp Year Set. 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. Published rates of inflation will vary depending on methodology. This table and charts use the earliest available data for each category. To help put this inflation into perspective, if we had invested $5 in the S&P 500 index in 1960, our investment would be nominally worth approximately $2,165.49 in 2023. This chart shows a calculation of buying power equivalence for $5 in 1965 (price index tracking began in 1635). Breaking down these categories helps explain the main drivers behind price changes. Compare these values to the overall average of 3.74% per year: The graph below compares inflation in categories of goods over time. The most valuable Jefferson Nickel's. 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. 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: This conversion table shows various other 1960 amounts in today's dollars, based on the 910.71% change in prices: Inflation can vary widely by city, even within the United States. Alternative measurements are sometimes used based on context and economic/political circumstances. This means that the PCE Index equates $5 in 1965 with $35.09 in 2023, a difference of $30.09. These rates are age-adjusted and based on 2015-2019 cases and 2016-2020 deaths. Select a date or variety to find the values and prices of all grades available. This is a return on investment of 43,209.77%, with an absolute return of $2,160.49 on top of the original $5. What Published rates of inflation will vary depending on methodology. They have always maintained the same weight of 5 grams and the material, 75% nickel, and 25% copper. Thomas Jefferson Set of 4 x 1 Cent US Postage Stamps NEW Scot 1278. What divide it by the CPI in 1965, and multiply it by 50 cents. Click here to see the most valuable coins ever minted. Today's values were extrapolated from the latest 12-month rolling average official data. The first column lists the date, and mint mark, followed by the buy price . Modern Jefferson Nickel Average Values & Prices. CoinTrackers.com is an invaluable resource dedicated to helping the coin collector and silver community. The average annual inflation rate between these periods has been 3.97%. Breaking down these categories helps explain the main drivers behind price changes. In 1965, PCE inflation was 1.44%. Ian earned his degree in Computer Science from Dartmouth College. Compare these values to the overall average of 3.74% per year: The graph below compares inflation in categories of goods over time. Value placed on this coin is solid because of these qualities. For more information on the difference between PCE and CPI, see this analysis provided by the Bureau of Labor Statistics. The compounding effect of inflation would account for 90.11% of returns ($1,951.23) during this period. Very old copper coins are susceptible to many problems lowering eye appeal. To get the total inflation rate for the 58 years between 1965 and 2023, we use the following formula: Plugging in the values to this equation, we get: There are multiple ways to measure inflation. The Consumer Price Index, used above, is the most common standard used globally. The government calculates a variety of prices, such as milk, bread, a new car, an apartment, etc, and creates the Consumer Price Index (CPI). The fourth Christmas issue features an Angel with a Trumpet. Look out for these mint error nickels in coin collections that you may have. The average annual inflation rate between these . Printing Method: Giori press. This is a labor of love you might say, so it is resource intensive and slow. Special thanks to QuickChart for their chart image API, which is used for chart downloads. In Canada, CA$100.00 in 1965 would be equivalent to CA$900.01 in 2023, an absolute change of CA$800.01 and a cumulative change of 800.01%. The current inflation rate page gives more detail on the latest inflation rates. By calculating the value in 1965 dollars, the chart below shows how $100 is worth less over 58 years. Titles attributed to them doesn't always reflect the exact error or variety on them. The current inflation rate compared to last year is now 6.41%. Chicago, Illinois experienced the lowest rate of inflation during the 63 years between 1960 and 2023 (3.57%). The U.S. dollar has lost 89% its value since 1965 Updated: February 14, 2022 $100 in 1965 is equivalent in purchasing power to about $949.75 today, an increase of $849.75 over 58 years. A dollar today only buys 10.529% of what it could buy back then. 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. It was made available to the public weeks before Christmas to promote the Post Office's . Rate of New Cases and Deaths per 100,000: The rate of new cases of female breast cancer was 128.3 per 100,000 women per year. one in certified mint state (MS+) condition could bring as much as $15 at auction. Published rates of inflation will vary depending on methodology. Special thanks to QuickChart for their chart image API, which is used for chart downloads. That number represents more than 30% of all household wealth in the U.S.. Millionaire Stat Please enable it. Some pennies, originally worth a single cent, are now worth thousands of dollars. This calculates the cost of living increases from 1965 and inflation of the US Dollar. To help put this inflation into perspective, if we had invested $5 in the S&P 500 index in 1965, our investment would be nominally worth approximately $1,246.60 in 2023. Later the mint decided to produce its 5 cent coinage . Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula. This calculates the cost of living increases from 1964 and inflation of the US Dollar. In order to evaluate the real return on our investment, we must calculate the return with inflation taken into account. On May 16 of that year, Congress passed an act to usher in the new five-cent coin, made of 25 percent nickel and 75 percent copper. Printed By: Bureau of Engraving and Printing. Compare these values to the overall average of 3.96% per year: The graph below compares inflation in categories of goods over time. or Best Offer. These errors are known as "Plain" or "No D" Lincoln cents. Special thanks to QuickChart for their chart image API, which is used for chart downloads. For comparison, in the UK 100.00 in 1965 would be equivalent to 2,477.31 in 2023, an absolute change of 2,377.31 and a cumulative change of 2,377.31%. Minor discrepancies can occur because we use the latest CPI data for inflation, annualized inflation numbers for previous years, and we compute S&P price and dividends from January of 1965 to latest available data for 2023 using average monthly close price. The PCE Price Index is the U.S. Federal Reserve's preferred measure of inflation, compiled by the Bureau of Economic Analysis. Minor discrepancies can occur because we use the latest CPI data for inflation, annualized inflation numbers for previous years, and we compute S&P price and dividends from January of 1960 to latest available data for 2023 using average monthly close price. Breaking down these categories helps explain the main drivers behind price changes. such as milk, bread, a new car, an apartment, etc, and creates the Consumer Price Index (CPI). It's also unknown how many of these exclusive quarters are still in circulation. Coin value - $4-5 . $5 in 1800 is worth $118.72 today Value of $5 from 1800 to 2023 $5 in 1800 is equivalent in purchasing power to about $118.72 today, an increase of $113.72 over 223 years. For more information on the difference between PCE and CPI, see this analysis provided by the Bureau of Labor Statistics. Compare these values to the overall average of 3.96% per year: The graph below compares inflation in categories of goods over time. 5 Cents coin Canada (nickel) - Exchange yours for cash today Information How it Works Location: Canada Currency: Canadian Dollars Series: Canadian Dollar coins Tender: coins Weight: 3.95 g Dimensions: 21.2 21.2 mm Composition material: nickel plated steel Colour: silver Person: Queen Elizabeth II coin grading scale. It measures the change in prices of goods and services purchased by consumers. 1965 SMS Penny Value Ian Webster is an engineer and data expert based in San Mateo, California. Recall that the converted amount is $47.49 when all items including food and energy are measured. The current copper melt value for each penny is about $0.02. Posted on 16-04-22 By Question . This means that today's prices are 10.11 times as high as average prices since 1960, according to the Bureau of Labor Statistics consumer price index. To calculate, find the CPI in the current year, divide it by the CPI in 1966, and multiply it by 5 cents. The value of a canadian coin depends on several factors such as quality and wear, supply and demand, rarity, finish and more. You may use the following MLA citation for this page: $1 in 1965 2023 | Inflation Calculator. Official Inflation Data, Alioth Finance, 20 Feb. 2023, https://www.officialdata.org/us/inflation/1965?amount=1. could 5 cents buy in the year 1965? The dollar had an average inflation rate of 3.74% per year between 1960 and today, producing a cumulative price increase of 910.71%. In Canada, CA$5.00 in 1960 would be equivalent to CA$48.69 in 2023, an absolute change of CA$43.69 and a cumulative change of 873.84%. Read more about inflation and investment. The rarest and hardest to find Jefferson Nickel's Check out each link to learn more about each coin. Call or visit your local coin dealer for more information. A person would need to earn an average of $758,434 per year in order to join the top 1%. 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: This conversion table shows various other 1965 amounts in today's dollars, based on the 849.75% change in prices: Inflation can vary widely by city, even within the United States. In other words, a dollar will pay for fewer items at the store. This means the inflation-adjusted real return of our $1 investment is $25.25. The U.S. CPI was 29.6 in the year 1960 and 299.17 in 2023: $0.50 in 1960 has the same "purchasing power" or "buying power" as $5.05 in 2023. Half cents are all scarce today and its advanced age combined with its pleasing appearance sets it far ahead of many other copper coins. In order to evaluate the real return on our investment, we must calculate the return with inflation taken into account. This effect explains how inflation erodes the value of a dollar over time. Compare these numbers to the US's overall absolute change of $849.75 and total percent change of 849.75%. The 5 cents 1965 - Small Beads counts 119 beads. If this number holds, $100 today will be equivalent in buying power to $106.41 next year. Compare this to the standard CPI measurement, which equates $100 with $949.75. The PCE Price Index changed by 3.30% per year on average between 1960 and 2023. You may also want to account for capital gains tax, which would take your real return down to around $107 for most people. Also of note is the Core CPI, which uses the standard CPI but omits the more volatile categories of food and energy. Annual Rate, the Bureau of Labor Statistics CPI. This means that 100 dollars in 1965 are equivalent to 954.5 dollars in 2023. What could 5 cents buy in the year 1965? There have also been five US Navy ships named for him and he was honored as part of the Hudson-Fulton Celebration in 1909 . While we wholeheartedly try to give honest price estimates there are many factors besides appearance, metal content, and rarity that help make up the coins overall value. Sold for $17,250 via Heritage Auctions (September 2006). This chart shows the average rate of inflation for select CPI categories between 1960 and 2023. This table and charts use the earliest available data for each category. Typical 1965 pennies in uncirculated condition are worth 10 to 30 cents apiece. Core inflation averaged 3.90% per year between 1965 and 2023 (vs all-CPI inflation of 3.96%), for an inflation total of 822.35%. In other words, the purchasing power of $100 in 1965 equals $954.5 today. In other words, a dollar will pay for fewer items at the store. This calculates the cost of living increases from 1964 and inflation of the US Dollar. All calculations are performed in the local currency (USD) and using 6 decimal digits. Chicago, Illinois experienced the lowest rate of inflation during the 63 years between 1960 and 2023 (3.57%). Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913.