# 1993 Inflation Calculator

Amount in 1993:

RESULT: \$1 in 1993 is worth \$2.05 today.

You might be interested in calculating the value of \$1 for the year 1998. Or calculate the value of \$1 for the year 2003

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# \$1 in 1993 is worth \$2.05 today.

## The value of \$1 from 1993 to 2022

\$1 in 1993 has the purchasing power of about \$2.05 today, a \$1.05 increase in 29 years. Between 1993 and today, the dollar experienced an average annual inflation rate of 2.51%, resulting in a cumulative price increase of 105.04%.

According to the Bureau of Labor Statistics consumer price index, today's prices are several times higher than the average price since 1993.

In 1993, the inflation rate was 13.55%. Inflation is now 2.95% higher than it was last year. If this figure holds true, \$1 today will be worth \$3.95 next year in purchasing power.

## Inflation from 1993 to 2022

Summary Value
Cumulative price change (from 1993 to today) 105.04%
Average inflation rate (from 1993 to today) 2.51%
Converted amount \$2.05
Price Difference \$1.05
CPI in 1993 144.5
CPI in 2022 296.276
Inflation in 1993 13.55%
Inflation in 2022 2.95%
\$1 in 1993 \$2.05 in 2022

## Buying power of \$1 in 1993

If you had \$1 in your hand in 1993, its adjusted value for inflation today would be \$2.05. Put another way, you would need \$2.05 to beat the rising inflation. When \$1 becomes equivalent to \$2.05 over time, the "real value" of a single US dollar decreases. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation gradually erodes the value of a dollar. By calculating the value in 1993 dollars, it's evident how \$1 loses its worth over 29 years.

## Dollar inflation for \$1 from 1993 to 2022

The below tabular column shows the effect of inflation on \$1 in the year 1993 to the year 1993.

Year Dollar Value Inflation Rate
1993 1 13.55%
1994 1.03 2.56%
1995 1.05 2.83%
1996 1.09 2.95%
1997 1.11 2.29%
1998 1.13 1.56%
1999 1.15 2.21%
2000 1.19 3.36%
2001 1.23 2.85%
2002 1.25 1.58%
2003 1.27 2.28%
2004 1.31 2.66%
2005 1.35 3.39%
2006 1.4 3.23%
2007 1.44 2.85%
2008 1.49 3.84%
2009 1.49 -0.36%
2010 1.51 1.64%
2011 1.56 3.16%
2012 1.59 2.07%
2013 1.61 1.46%
2014 1.64 1.62%
2015 1.64 0.12%
2016 1.66 1.26%
2017 1.7 2.13%
2018 1.74 2.49%
2019 1.77 1.76%
2020 1.79 1.23%
2021 1.88 4.70%
2022 2.05 8.52%

## Conversion of 1993 dollars to today's price

Based on the 105.04% change in prices, the following 1993 amounts are shown in today's dollars:

Initial value Today value
\$1 dollar in 1993 \$2.05 dollars today
\$5 dollars in 1993 \$10.25 dollars today
\$10 dollars in 1993 \$20.5 dollars today
\$50 dollars in 1993 \$102.52 dollars today
\$100 dollars in 1993 \$205.04 dollars today
\$500 dollars in 1993 \$1025.18 dollars today
\$1,000 dollars in 1993 \$2050.35 dollars today
\$5,000 dollars in 1993 \$10251.76 dollars today
\$10,000 dollars in 1993 \$20503.53 dollars today
\$50,000 dollars in 1993 \$102517.65 dollars today
\$100,000 dollars in 1993 \$205035.29 dollars today
\$500,000 dollars in 1993 \$1025176.47 dollars today
\$1,000,000 dollars in 1993 \$2050352.94 dollars today

## How to calculate the inflated value of \$1 in 1993

To calculate the change in value between 1993 and today, we use the following inflation rate formula:

CPI Today / CPI in 1993 x USD Value in 1993 = Current USD Value

By plugging the values into the formula above, we get:

296.276/ 144.5 x \$1 = \$2.05

To buy the same product that you could buy for \$1 in 1993, you would need \$2.05 in 2022.

### To calculate the cumulative or total inflation rate in the past 29 years between 1993 and 2022, we use the following formula:

CPI in 2022 - CPI in 1993 / CPI in 1993 x 100 = Cumulative Inflation Rate

By inserting the values to this equation, we get:

( 296.276 - 144.5 / 144.5) x 100 = 105.04%

### Alternate method to calculate today's value of money after inflation - Using compound interest formula

Given that money changes over time due to inflation, which acts as compound interest, we can use the following formula:

FV = PV (1+i/100)^n

where,

• FV = Future value
• PV = Present value
• i: Average interest rate (inflation)
• n: Number of times the interest is compounded (i.e. # of years)

The future value in this case represents the amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much \$1 is worth today. We have 29 years between 2022 and 1993. The average inflation rate was 2.5068082748213%.

Plugging in the values into the formula, we get:

1 (1+ % 2.51/ 100 ) ^ 29 = \$2.05