# $61,741 in 2002 is worth$73,891.18 in 2008

$61,741 in 2002 has the same purchasing power as$73,891.18 in 2008. Over the 6 years this is a change of $12,150.18. The average inflation rate of the dollar between 2002 and 2008 was 2.83% per year. The cumulative price increase of the dollar over this time was 19.68%. ## The value of$61,741 from 2002 to 2008

So what does this data mean? It means that the prices in 2008 are 738.91 higher than the average prices since 2002. A dollar in 2008 can buy 83.56% of what it could buy in 2002.

We can look at the buying power equivalent for $61,741 in 2002 to see how much you would need to adjust for in order to beat inflation. For 2002 to 2008, if you started with$61,741 in 2002, you would need to have $73,891.18 in 2002 to keep up with inflation rates. So if we are saying that$61,741 is equivalent to $73,891.18 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 6 years. ## Value of$61,741 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 $61,741.00 1.58% 2003$63,148.10 2.28%
2004 $64,829.77 2.66% 2005$67,026.22 3.39%
2006 $69,188.36 3.23% 2007$71,158.99 2.85%