$6,007 in 1994 is worth$10,178.14 in 2018

$6,007 in 1994 has the same purchasing power as$10,178.14 in 2018. Over the 24 years this is a change of $4,171.14. The average inflation rate of the dollar between 1994 and 2018 was 2.24% per year. The cumulative price increase of the dollar over this time was 69.44%. The value of$6,007 from 1994 to 2018

So what does this data mean? It means that the prices in 2018 are 101.78 higher than the average prices since 1994. A dollar in 2018 can buy 59.02% of what it could buy in 1994.

We can look at the buying power equivalent for $6,007 in 1994 to see how much you would need to adjust for in order to beat inflation. For 1994 to 2018, if you started with$6,007 in 1994, you would need to have $10,178.14 in 1994 to keep up with inflation rates. So if we are saying that$6,007 is equivalent to $10,178.14 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 24 years. Value of$6,007 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 $6,007.00 2.56% 1995$6,177.24 2.83%
1996 $6,359.64 2.95% 1997$6,505.56 2.29%
1998 $6,606.89 1.56% 1999$6,752.81 2.21%
2000 $6,979.79 3.36% 2001$7,178.41 2.85%
2002 $7,291.90 1.58% 2003$7,458.08 2.28%
2004 $7,656.70 2.66% 2005$7,916.11 3.39%
2006 $8,171.47 3.23% 2007$8,404.21 2.85%
2008 $8,726.89 3.84% 2009$8,695.84 -0.36%
2010 $8,838.48 1.64% 2011$9,117.47 3.16%
2012 $9,306.15 2.07% 2013$9,442.46 1.46%
2014 $9,595.64 1.62% 2015$9,607.03 0.12%
2016 $9,728.22 1.26% 2017$9,935.46 2.13%