$69,423 in 1966 is worth$74,565.44 in 1968

$69,423 in 1966 has the same purchasing power as$74,565.44 in 1968. Over the 2 years this is a change of $5,142.44. The average inflation rate of the dollar between 1966 and 1968 was 3.38% per year. The cumulative price increase of the dollar over this time was 7.41%. The value of$69,423 from 1966 to 1968

So what does this data mean? It means that the prices in 1968 are 745.65 higher than the average prices since 1966. A dollar in 1968 can buy 93.10% of what it could buy in 1966.

We can look at the buying power equivalent for $69,423 in 1966 to see how much you would need to adjust for in order to beat inflation. For 1966 to 1968, if you started with$69,423 in 1966, you would need to have $74,565.44 in 1966 to keep up with inflation rates. So if we are saying that$69,423 is equivalent to $74,565.44 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 2 years. Value of$69,423 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
1966 $69,423.00 2.86% 1967$71,565.69 3.09%