Value of 2004 US Dollars today - Inflation Calculator

$100 in 2004

$167.32 in 2024

The inflation rate in the United States between 2004 and today has been 67.32%, which translates into a total increase of $67.32. This means that 100 dollars in 2004 are equivalent to 167.32 dollars in 2024. In other words, the purchasing power of $100 in 2004 equals $167.32 today. The average annual inflation rate between these periods has been 2.61%.

Inflation timeline in the United States (2004 - 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 2004-2023	61.32%
Cumulative inflation 2004-today	67.32%
Avg. Annual inflation 2004-2023	2.55%
CPI 2004	188.88
CPI 2023	304.7
CPI 2024-10 (latest official data)	315.66
CPI today	316.05

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 2004 and 2023, use the corresponding CPI values:

Value₂₀₂₃

=Value₂₀₀₄ ×

CPI₂₀₂₃/CPI₂₀₀₄

=$ 100 ×

304.7/188.88

≈$161.32

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 316.05:

Value_today

=Value₂₀₀₄ ×

CPI_today/CPI₂₀₀₄

=$ 100 ×

316.05/188.88

≈$167.32

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 19 years between 2004 and 2023 and the average inflation rate was 2.5488%. Therefore, we can resolve the formula like this:

Value₂₀₂₃

=PV × (1 + i)ⁿ

=$100 × (1 + 0.025488)¹⁹

≈$161.32

US inflation - Conversion table

Initial Value		Equivalent value
$1 dollar in 2004	→	$1.61 dollars in 2023
$5 dollars in 2004	→	$8.07 dollars in 2023
$10 dollars in 2004	→	$16.13 dollars in 2023
$50 dollars in 2004	→	$80.66 dollars in 2023
$100 dollars in 2004	→	$161.32 dollars in 2023
$500 dollars in 2004	→	$806.59 dollars in 2023
$1,000 dollars in 2004	→	$1,613.17 dollars in 2023
$5,000 dollars in 2004	→	$8,065.87 dollars in 2023
$10,000 dollars in 2004	→	$16,131.73 dollars in 2023
$50,000 dollars in 2004	→	$80,658.67 dollars in 2023
$100,000 dollars in 2004	→	$161,317.35 dollars in 2023
$500,000 dollars in 2004	→	$806,586.74 dollars in 2023
$1,000,000 dollars in 2004	→	$1,613,173.48 dollars in 2023

Cumulative inflation From 2004	67.32%
Avg. annual inflation From 2004	2.61%
CPI 2004	188.88
CPI today	316.05

Value of Dollar over time (by year)

Period	Value
2004	100
2005	103.39
2006	106.73
2007	109.77
2008	113.99
2009	113.58
2010	115.44
2011	119.09
2012	121.55
2013	123.33
2014	125.33
2015	125.48
2016	127.07
2017	129.77
2018	132.94
2019	135.35
2020	137.02
2021	143.46
2022	154.94
2023	161.32
2024-10	167.12
Today	167.32