$31,151 in 1998 is worth$32,909.22 in 2000

$31,151 in 1998 has the same purchasing power as$32,909.22 in 2000. Over the 2 years this is a change of $1,758.22. The average inflation rate of the dollar between 1998 and 2000 was 2.38% per year. The cumulative price increase of the dollar over this time was 5.64%. The value of$31,151 from 1998 to 2000

So what does this data mean? It means that the prices in 2000 are 329.09 higher than the average prices since 1998. A dollar in 2000 can buy 94.66% of what it could buy in 1998.

We can look at the buying power equivalent for $31,151 in 1998 to see how much you would need to adjust for in order to beat inflation. For 1998 to 2000, if you started with$31,151 in 1998, you would need to have $32,909.22 in 1998 to keep up with inflation rates. So if we are saying that$31,151 is equivalent to $32,909.22 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 2 years. Value of$31,151 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
1998 $31,151.00 1.56% 1999$31,839.00 2.21%