# $23,056 in 2000 is worth$31,696.78 in 2014

$23,056 in 2000 has the same purchasing power as$31,696.78 in 2014. Over the 14 years this is a change of $8,640.78. The average inflation rate of the dollar between 2000 and 2014 was 2.38% per year. The cumulative price increase of the dollar over this time was 37.48%. ## The value of$23,056 from 2000 to 2014

So what does this data mean? It means that the prices in 2014 are 316.97 higher than the average prices since 2000. A dollar in 2014 can buy 72.74% of what it could buy in 2000.

We can look at the buying power equivalent for $23,056 in 2000 to see how much you would need to adjust for in order to beat inflation. For 2000 to 2014, if you started with$23,056 in 2000, you would need to have $31,696.78 in 2000 to keep up with inflation rates. So if we are saying that$23,056 is equivalent to $31,696.78 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 14 years. ## Value of$23,056 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
2000 $23,056.00 3.36% 2001$23,712.07 2.85%
2002 $24,086.96 1.58% 2003$24,635.91 2.28%
2004 $25,291.98 2.66% 2005$26,148.88 3.39%
2006 $26,992.39 3.23% 2007$27,761.19 2.85%
2008 $28,827.10 3.84% 2009$28,724.54 -0.36%
2010 $29,195.70 1.64% 2011$30,117.27 3.16%
2012 $30,740.53 2.07% 2013$31,190.80 1.46%