$3,422 in 1947 is worth$4,465.48 in 1959

$3,422 in 1947 has the same purchasing power as$4,465.48 in 1959. Over the 12 years this is a change of $1,043.48. The average inflation rate of the dollar between 1947 and 1959 was 3.21% per year. The cumulative price increase of the dollar over this time was 30.49%. The value of$3,422 from 1947 to 1959

So what does this data mean? It means that the prices in 1959 are 44.65 higher than the average prices since 1947. A dollar in 1959 can buy 76.63% of what it could buy in 1947.

We can look at the buying power equivalent for $3,422 in 1947 to see how much you would need to adjust for in order to beat inflation. For 1947 to 1959, if you started with$3,422 in 1947, you would need to have $4,465.48 in 1947 to keep up with inflation rates. So if we are saying that$3,422 is equivalent to $4,465.48 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 12 years. Value of$3,422 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
1947 $3,422.00 14.36% 1948$3,698.22 8.07%
1949 $3,652.18 -1.24% 1950$3,698.22 1.26%
1951 $3,989.78 7.88% 1952$4,066.50 1.92%
1953 $4,097.19 0.75% 1954$4,127.88 0.75%
1955 $4,112.54 -0.37% 1956$4,173.92 1.49%
1957 $4,312.03 3.31% 1958$4,434.79 2.85%