# $59,638 in 2002 is worth$62,621.56 in 2004

$59,638 in 2002 has the same purchasing power as$62,621.56 in 2004. Over the 2 years this is a change of $2,983.56. The average inflation rate of the dollar between 2002 and 2004 was 2.17% per year. The cumulative price increase of the dollar over this time was 5.00%. ## The value of$59,638 from 2002 to 2004

So what does this data mean? It means that the prices in 2004 are 626.22 higher than the average prices since 2002. A dollar in 2004 can buy 95.24% of what it could buy in 2002.

We can look at the buying power equivalent for $59,638 in 2002 to see how much you would need to adjust for in order to beat inflation. For 2002 to 2004, if you started with$59,638 in 2002, you would need to have $62,621.56 in 2002 to keep up with inflation rates. So if we are saying that$59,638 is equivalent to $62,621.56 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$59,638 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
2002 $59,638.00 1.58% 2003$60,997.18 2.28%