$9,642 in 1964 is worth$13,001.15 in 1972

$9,642 in 1964 has the same purchasing power as$13,001.15 in 1972. Over the 8 years this is a change of $3,359.15. The average inflation rate of the dollar between 1964 and 1972 was 3.54% per year. The cumulative price increase of the dollar over this time was 34.84%. The value of$9,642 from 1964 to 1972

So what does this data mean? It means that the prices in 1972 are 130.01 higher than the average prices since 1964. A dollar in 1972 can buy 74.16% of what it could buy in 1964.

We can look at the buying power equivalent for $9,642 in 1964 to see how much you would need to adjust for in order to beat inflation. For 1964 to 1972, if you started with$9,642 in 1964, you would need to have $13,001.15 in 1964 to keep up with inflation rates. So if we are saying that$9,642 is equivalent to $13,001.15 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 8 years. Value of$9,642 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
1964 $9,642.00 1.31% 1965$9,797.52 1.61%
1966 $10,077.45 2.86% 1967$10,388.48 3.09%
1968 $10,823.92 4.19% 1969$11,414.88 5.46%
1970 $12,068.05 5.72% 1971$12,596.81 4.38%