# $62,339 in 1955 is worth$103,278.04 in 1973

$62,339 in 1955 has the same purchasing power as$103,278.04 in 1973. Over the 18 years this is a change of $40,939.04. The average inflation rate of the dollar between 1955 and 1973 was 2.69% per year. The cumulative price increase of the dollar over this time was 65.67%. ## The value of$62,339 from 1955 to 1973

So what does this data mean? It means that the prices in 1973 are 1,032.78 higher than the average prices since 1955. A dollar in 1973 can buy 60.36% of what it could buy in 1955.

We can look at the buying power equivalent for $62,339 in 1955 to see how much you would need to adjust for in order to beat inflation. For 1955 to 1973, if you started with$62,339 in 1955, you would need to have $103,278.04 in 1955 to keep up with inflation rates. So if we are saying that$62,339 is equivalent to $103,278.04 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 18 years. ## Value of$62,339 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
1955 $62,339.00 -0.37% 1956$63,269.43 1.49%
1957 $65,362.91 3.31% 1958$67,223.77 2.85%
1959 $67,688.99 0.69% 1960$68,852.03 1.72%
1961 $69,549.85 1.01% 1962$70,247.68 1.00%
1963 $71,178.11 1.32% 1964$72,108.54 1.31%
1965 $73,271.59 1.61% 1966$75,365.06 2.86%
1967 $77,691.14 3.09% 1968$80,947.66 4.19%
1969 $85,367.21 5.46% 1970$90,251.99 5.72%
1971 $94,206.32 4.38% 1972$97,230.23 3.21%