# $8,779 in 1940 is worth$19,439.21 in 1964

$8,779 in 1940 has the same purchasing power as$19,439.21 in 1964. Over the 24 years this is a change of $10,660.21. The average inflation rate of the dollar between 1940 and 1964 was 3.33% per year. The cumulative price increase of the dollar over this time was 121.43%. ## The value of$8,779 from 1940 to 1964

So what does this data mean? It means that the prices in 1964 are 194.39 higher than the average prices since 1940. A dollar in 1964 can buy 45.16% of what it could buy in 1940.

We can look at the buying power equivalent for $8,779 in 1940 to see how much you would need to adjust for in order to beat inflation. For 1940 to 1964, if you started with$8,779 in 1940, you would need to have $19,439.21 in 1940 to keep up with inflation rates. So if we are saying that$8,779 is equivalent to $19,439.21 over time, you can see the core concept of inflation in action. The "real value" of a single dollar decreases over time. It will pay for fewer items at the store than it did previously. In the chart below you can see how the value of the dollar is worth less over 24 years. ## Value of$8,779 Over Time

In the table below we can see the value of the US Dollar over time. According to the BLS, each of these amounts are equivalent in terms of what that amount could purchase at the time.

Year Dollar Value Inflation Rate
1940 $8,779.00 0.72% 1941$9,217.95 5.00%
1942 $10,221.26 10.88% 1943$10,848.34 6.13%
1944 $11,036.46 1.73% 1945$11,287.29 2.27%
1946 $12,227.89 8.33% 1947$13,983.69 14.36%
1948 $15,112.42 8.07% 1949$14,924.30 -1.24%
1950 $15,112.42 1.26% 1951$16,303.86 7.88%
1952 $16,617.39 1.92% 1953$16,742.81 0.75%
1954 $16,868.22 0.75% 1955$16,805.51 -0.37%
1956 $17,056.34 1.49% 1957$17,620.71 3.31%
1958 $18,122.36 2.85% 1959$18,247.78 0.69%
1960 $18,561.31 1.72% 1961$18,749.44 1.01%
1962 $18,937.56 1.00% 1963$19,188.39 1.32%