# $71,176 in 1974 is worth$310,839.88 in 2008

$71,176 in 1974 has the same purchasing power as$310,839.88 in 2008. Over the 34 years this is a change of $239,663.88. The average inflation rate of the dollar between 1974 and 2008 was 4.66% per year. The cumulative price increase of the dollar over this time was 336.72%. ## The value of$71,176 from 1974 to 2008

So what does this data mean? It means that the prices in 2008 are 3,108.40 higher than the average prices since 1974. A dollar in 2008 can buy 22.90% of what it could buy in 1974.

We can look at the buying power equivalent for $71,176 in 1974 to see how much you would need to adjust for in order to beat inflation. For 1974 to 2008, if you started with$71,176 in 1974, you would need to have $310,839.88 in 1974 to keep up with inflation rates. So if we are saying that$71,176 is equivalent to $310,839.88 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 34 years. ## Value of$71,176 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
1974 $71,176.00 11.04% 1975$77,672.80 9.13%
1976 $82,148.37 5.76% 1977$87,490.17 6.50%
1978 $94,131.34 7.59% 1979$104,814.96 11.35%
1980 $118,963.54 13.50% 1981$131,235.26 10.32%
1982 $139,320.16 6.16% 1983$143,795.73 3.21%
1984 $150,003.78 4.32% 1985$155,345.59 3.56%
1986 $158,233.05 1.86% 1987$164,007.98 3.65%
1988 $170,793.53 4.14% 1989$179,022.80 4.82%
1990 $188,695.81 5.40% 1991$196,636.33 4.21%
1992 $202,555.63 3.01% 1993$208,619.31 2.99%
1994 $213,961.12 2.56% 1995$220,024.80 2.83%
1996 $226,521.59 2.95% 1997$231,719.03 2.29%
1998 $235,328.36 1.56% 1999$240,525.79 2.21%
2000 $248,610.69 3.36% 2001$255,684.98 2.85%
2002 $259,727.43 1.58% 2003$265,646.73 2.28%
2004 $272,721.02 2.66% 2005$281,960.91 3.39%
2006 $291,056.42 3.23% 2007$299,346.33 2.85%