$17,994 in 1994 is worth$19,790.97 in 1998

$17,994 in 1994 has the same purchasing power as$19,790.97 in 1998. Over the 4 years this is a change of $1,796.97. The average inflation rate of the dollar between 1994 and 1998 was 2.44% per year. The cumulative price increase of the dollar over this time was 9.99%. The value of$17,994 from 1994 to 1998

So what does this data mean? It means that the prices in 1998 are 197.91 higher than the average prices since 1994. A dollar in 1998 can buy 90.92% of what it could buy in 1994.

We can look at the buying power equivalent for $17,994 in 1994 to see how much you would need to adjust for in order to beat inflation. For 1994 to 1998, if you started with$17,994 in 1994, you would need to have $19,790.97 in 1994 to keep up with inflation rates. So if we are saying that$17,994 is equivalent to $19,790.97 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 4 years. Value of$17,994 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
1994 $17,994.00 2.56% 1995$18,503.95 2.83%
1996 $19,050.33 2.95% 1997$19,487.43 2.29%