# $15,701 in 1956 is worth$17,086.38 in 1960

$15,701 in 1956 has the same purchasing power as$17,086.38 in 1960. Over the 4 years this is a change of $1,385.38. The average inflation rate of the dollar between 1956 and 1960 was 2.01% per year. The cumulative price increase of the dollar over this time was 8.82%. ## The value of$15,701 from 1956 to 1960

So what does this data mean? It means that the prices in 1960 are 170.86 higher than the average prices since 1956. A dollar in 1960 can buy 91.89% of what it could buy in 1956.

We can look at the buying power equivalent for $15,701 in 1956 to see how much you would need to adjust for in order to beat inflation. For 1956 to 1960, if you started with$15,701 in 1956, you would need to have $17,086.38 in 1956 to keep up with inflation rates. So if we are saying that$15,701 is equivalent to $17,086.38 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 4 years. ## Value of$15,701 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
1956 $15,701.00 1.49% 1957$16,220.52 3.31%
1958 $16,682.31 2.85% 1959$16,797.76 0.69%