Value of 2003 US Dollars today - Inflation Calculator

$100 in 2003

$172 in 2024

The inflation rate in the United States between 2003 and today has been 72%, which translates into a total increase of $72. This means that 100 dollars in 2003 are equivalent to 172 dollars in 2024. In other words, the purchasing power of $100 in 2003 equals $172 today. The average annual inflation rate between these periods has been 2.62%.

Inflation timeline in the United States (2003 - 2024)

The following chart depicts the equivalence of $100 due to compound inflation and CPI changes. 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 (USD) 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 extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator	Value
Cumulative inflation 2003-2023	65.64%
Cumulative inflation 2003-today	72%
Avg. Annual inflation 2003-2023	2.56%
CPI 2003	183.96
CPI 2023	304.7
CPI 2024-10 (latest official data)	315.66
CPI today	316.41

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Value_t =Value₀ ×

CPI_t/CPI₀

To obtain the values equivalent in buying power between 2003 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₂₀₀₃ ×

CPI₂₀₂₃/CPI₂₀₀₃

=$ 100 ×

304.7/183.96

≈$165.64

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 316.41:

Value_today

=Value₂₀₀₃ ×

CPI_today/CPI₂₀₀₃

=$ 100 ×

316.41/183.96

≈$172

Alternative: Using the compound interest formula

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:

FV: Future Value
PV: Present Value
i: Interest rate (inflation)
n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $100 worth today. There are 20 years between 2003 and 2023 and the average inflation rate was 2.5552%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=$100 × (1 + 0.025552)²⁰

≈$165.64

US inflation - Conversion table

Initial Value		Equivalent value
$1 dollar in 2003	→	$1.66 dollars in 2023
$5 dollars in 2003	→	$8.28 dollars in 2023
$10 dollars in 2003	→	$16.56 dollars in 2023
$50 dollars in 2003	→	$82.82 dollars in 2023
$100 dollars in 2003	→	$165.64 dollars in 2023
$500 dollars in 2003	→	$828.18 dollars in 2023
$1,000 dollars in 2003	→	$1,656.36 dollars in 2023
$5,000 dollars in 2003	→	$8,281.81 dollars in 2023
$10,000 dollars in 2003	→	$16,563.62 dollars in 2023
$50,000 dollars in 2003	→	$82,818.1 dollars in 2023
$100,000 dollars in 2003	→	$165,636.19 dollars in 2023
$500,000 dollars in 2003	→	$828,180.97 dollars in 2023
$1,000,000 dollars in 2003	→	$1,656,361.95 dollars in 2023

Cumulative inflation From 2003	72%
Avg. annual inflation From 2003	2.62%
CPI 2003	183.96
CPI today	316.41

Value of Dollar over time (by year)

Period	Value
2003	100
2004	102.68
2005	106.16
2006	109.59
2007	112.71
2008	117.04
2009	116.62
2010	118.54
2011	122.28
2012	124.81
2013	126.64
2014	128.69
2015	128.84
2016	130.47
2017	133.25
2018	136.5
2019	138.98
2020	140.69
2021	147.3
2022	159.09
2023	165.64
2024-10	171.6
Today	172