$13,299 in 1978 is worth$43,915.87 in 2008

$13,299 in 1978 has the same purchasing power as$43,915.87 in 2008. Over the 30 years this is a change of $30,616.87. The average inflation rate of the dollar between 1978 and 2008 was 4.21% per year. The cumulative price increase of the dollar over this time was 230.22%. The value of$13,299 from 1978 to 2008

So what does this data mean? It means that the prices in 2008 are 439.16 higher than the average prices since 1978. A dollar in 2008 can buy 30.28% of what it could buy in 1978.

We can look at the buying power equivalent for $13,299 in 1978 to see how much you would need to adjust for in order to beat inflation. For 1978 to 2008, if you started with$13,299 in 1978, you would need to have $43,915.87 in 1978 to keep up with inflation rates. So if we are saying that$13,299 is equivalent to $43,915.87 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 30 years. Value of$13,299 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
1978 $13,299.00 7.59% 1979$14,808.40 11.35%
1980 $16,807.33 13.50% 1981$18,541.09 10.32%
1982 $19,683.34 6.16% 1983$20,315.65 3.21%
1984 $21,192.73 4.32% 1985$21,947.43 3.56%
1986 $22,355.37 1.86% 1987$23,171.26 3.65%
1988 $24,129.93 4.14% 1989$25,292.58 4.82%
1990 $26,659.19 5.40% 1991$27,781.04 4.21%
1992 $28,617.33 3.01% 1993$29,474.01 2.99%
1994 $30,228.71 2.56% 1995$31,085.39 2.83%
1996 $32,003.27 2.95% 1997$32,737.57 2.29%
1998 $33,247.50 1.56% 1999$33,981.80 2.21%
2000 $35,124.05 3.36% 2001$36,123.51 2.85%
2002 $36,694.63 1.58% 2003$37,530.92 2.28%
2004 $38,530.38 2.66% 2005$39,835.81 3.39%
2006 $41,120.83 3.23% 2007$42,292.04 2.85%