What was 30000 worth in 1960

The current year-over-year inflation rate to is now 6. The current inflation rate page gives more detail on the latest inflation rates. 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. 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 amounts in today's dollars, based on the 2, Inflation can also vary widely by country.

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 and 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 This table and charts use the earliest available data for each category. Our calculations use the following inflation rate formula to calculate the change in value between and today:. Then plug in historical CPI values. The U. CPI was To get the total inflation rate for the years between and , we use the following formula:.

Inflation data from to is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University. 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. Canada U. This means that pounds in are equivalent to 1, The average annual inflation rate has been 4. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money. All calculations are performed in the local currency GBP and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability.

Inflation data is provided by governments and international institutions on a monthly basis. Today's values were obtained by estimating figures from recent trends. There are several ways to calculate the time value of money.

Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index CPI formula. In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value.

There are 61 years between and and the average inflation rate has been 4.