# $18,948 in 1956 is worth$67,223.60 in 1982

$18,948 in 1956 has the same purchasing power as$67,223.60 in 1982. Over the 26 years this is a change of $48,275.60. The average inflation rate of the dollar between 1956 and 1982 was 4.92% per year. The cumulative price increase of the dollar over this time was 254.78%. ## The value of$18,948 from 1956 to 1982

So what does this data mean? It means that the prices in 1982 are 672.24 higher than the average prices since 1956. A dollar in 1982 can buy 28.19% of what it could buy in 1956.

We can look at the buying power equivalent for $18,948 in 1956 to see how much you would need to adjust for in order to beat inflation. For 1956 to 1982, if you started with$18,948 in 1956, you would need to have $67,223.60 in 1956 to keep up with inflation rates. So if we are saying that$18,948 is equivalent to $67,223.60 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 26 years. ## Value of$18,948 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 $18,948.00 1.49% 1957$19,574.96 3.31%
1958 $20,132.25 2.85% 1959$20,271.57 0.69%
1960 $20,619.88 1.72% 1961$20,828.87 1.01%
1962 $21,037.85 1.00% 1963$21,316.50 1.32%
1964 $21,595.15 1.31% 1965$21,943.46 1.61%
1966 $22,570.41 2.86% 1967$23,267.03 3.09%
1968 $24,242.29 4.19% 1969$25,565.87 5.46%
1970 $27,028.76 5.72% 1971$28,213.01 4.38%
1972 $29,118.62 3.21% 1973$30,929.82 6.22%
1974 $34,343.25 11.04% 1975$37,478.03 9.13%
1976 $39,637.54 5.76% 1977$42,215.03 6.50%
1978 $45,419.47 7.59% 1979$50,574.44 11.35%
1980 $57,401.29 13.50% 1981$63,322.54 10.32%