$74,693 in 1948 is worth$505,185.02 in 1998

$74,693 in 1948 has the same purchasing power as$505,185.02 in 1998. Over the 50 years this is a change of $430,492.02. The average inflation rate of the dollar between 1948 and 1998 was 4.02% per year. The cumulative price increase of the dollar over this time was 576.35%. The value of$74,693 from 1948 to 1998

So what does this data mean? It means that the prices in 1998 are 5,051.85 higher than the average prices since 1948. A dollar in 1998 can buy 14.79% of what it could buy in 1948.

We can look at the buying power equivalent for $74,693 in 1948 to see how much you would need to adjust for in order to beat inflation. For 1948 to 1998, if you started with$74,693 in 1948, you would need to have $505,185.02 in 1948 to keep up with inflation rates. So if we are saying that$74,693 is equivalent to $505,185.02 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 50 years. Value of$74,693 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
1948 $74,693.00 8.07% 1949$73,763.21 -1.24%
1950 $74,693.00 1.26% 1951$80,581.66 7.88%
1952 $82,131.31 1.92% 1953$82,751.17 0.75%
1954 $83,371.02 0.75% 1955$83,061.10 -0.37%
1956 $84,300.81 1.49% 1957$87,090.18 3.31%
1958 $89,569.61 2.85% 1959$90,189.47 0.69%
1960 $91,739.12 1.72% 1961$92,668.91 1.01%
1962 $93,598.70 1.00% 1963$94,838.41 1.32%
1964 $96,078.13 1.31% 1965$97,627.78 1.61%
1966 $100,417.15 2.86% 1967$103,516.44 3.09%
1968 $107,855.45 4.19% 1969$113,744.11 5.46%
1970 $120,252.63 5.72% 1971$125,521.43 4.38%
1972 $129,550.51 3.21% 1973$137,608.68 6.22%
1974 $152,795.22 11.04% 1975$166,742.05 9.13%
1976 $176,349.86 5.76% 1977$187,817.25 6.50%
1978 $202,074.01 7.59% 1979$225,008.79 11.35%
1980 $255,381.88 13.50% 1981$281,725.88 10.32%
1982 $299,081.93 6.16% 1983$308,689.74 3.21%
1984 $322,016.71 4.32% 1985$333,484.10 3.56%
1986 $339,682.69 1.86% 1987$352,079.87 3.65%
1988 $366,646.55 4.14% 1989$384,312.53 4.82%
1990 $405,077.80 5.40% 1991$422,123.93 4.21%
1992 $434,831.03 3.01% 1993$447,848.07 2.99%
1994 $459,315.46 2.56% 1995$472,332.50 2.83%
1996 $486,279.32 2.95% 1997$497,436.78 2.29%