# $62,789 in 1997 is worth$76,403.06 in 2005

$62,789 in 1997 has the same purchasing power as$76,403.06 in 2005. Over the 8 years this is a change of $13,614.06. The average inflation rate of the dollar between 1997 and 2005 was 2.46% per year. The cumulative price increase of the dollar over this time was 21.68%. ## The value of$62,789 from 1997 to 2005

So what does this data mean? It means that the prices in 2005 are 764.03 higher than the average prices since 1997. A dollar in 2005 can buy 82.18% of what it could buy in 1997.

We can look at the buying power equivalent for $62,789 in 1997 to see how much you would need to adjust for in order to beat inflation. For 1997 to 2005, if you started with$62,789 in 1997, you would need to have $76,403.06 in 1997 to keep up with inflation rates. So if we are saying that$62,789 is equivalent to $76,403.06 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 8 years. ## Value of$62,789 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
1997 $62,789.00 2.29% 1998$63,767.02 1.56%
1999 $65,175.37 2.21% 2000$67,366.14 3.36%
2001 $69,283.06 2.85% 2002$70,378.45 1.58%
2003 $71,982.40 2.28% 2004$73,899.33 2.66%