$40,823 in 1953 is worth$356,179.91 in 2013

$40,823 in 1953 has the same purchasing power as$356,179.91 in 2013. Over the 60 years this is a change of $315,356.91. The average inflation rate of the dollar between 1953 and 2013 was 3.66% per year. The cumulative price increase of the dollar over this time was 772.50%. The value of$40,823 from 1953 to 2013

So what does this data mean? It means that the prices in 2013 are 3,561.80 higher than the average prices since 1953. A dollar in 2013 can buy 11.46% of what it could buy in 1953.

We can look at the buying power equivalent for $40,823 in 1953 to see how much you would need to adjust for in order to beat inflation. For 1953 to 2013, if you started with$40,823 in 1953, you would need to have $356,179.91 in 1953 to keep up with inflation rates. So if we are saying that$40,823 is equivalent to $356,179.91 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 60 years. Value of$40,823 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
1953 $40,823.00 0.75% 1954$41,128.79 0.75%
1955 $40,975.90 -0.37% 1956$41,587.48 1.49%
1957 $42,963.53 3.31% 1958$44,186.69 2.85%
1959 $44,492.48 0.69% 1960$45,256.96 1.72%
1961 $45,715.64 1.01% 1962$46,174.33 1.00%
1963 $46,785.91 1.32% 1964$47,397.49 1.31%
1965 $48,161.97 1.61% 1966$49,538.02 2.86%
1967 $51,066.97 3.09% 1968$53,207.51 4.19%
1969 $56,112.51 5.46% 1970$59,323.31 5.72%
1971 $61,922.53 4.38% 1972$63,910.16 3.21%
1973 $67,885.44 6.22% 1974$75,377.30 11.04%
1975 $82,257.58 9.13% 1976$86,997.33 5.76%
1977 $92,654.45 6.50% 1978$99,687.63 7.59%
1979 $111,001.87 11.35% 1980$125,985.59 13.50%
1981 $138,981.67 10.32% 1982$147,543.80 6.16%
1983 $152,283.55 3.21% 1984$158,858.04 4.32%
1985 $164,515.16 3.56% 1986$167,573.06 1.86%
1987 $173,688.87 3.65% 1988$180,874.94 4.14%
1989 $189,589.96 4.82% 1990$199,833.94 5.40%
1991 $208,243.17 4.21% 1992$214,511.87 3.01%
1993 $220,933.46 2.99% 1994$226,590.58 2.56%
1995 $233,012.18 2.83% 1996$239,892.46 2.95%
1997 $245,396.69 2.29% 1998$249,219.06 1.56%
1999 $254,723.29 2.21% 2000$263,285.42 3.36%
2001 $270,777.28 2.85% 2002$275,058.34 1.58%
2003 $281,327.04 2.28% 2004$288,818.90 2.66%
2005 $298,604.19 3.39% 2006$308,236.58 3.23%
2007 $317,015.82 2.85% 2008$329,187.80 3.84%
2009 $328,016.63 -0.36% 2010$333,397.01 1.64%
2011 $343,920.78 3.16% 2012$351,038.05 2.07%