# $58,004 in 2007 is worth$66,305.59 in 2015

$58,004 in 2007 has the same purchasing power as$66,305.59 in 2015. Over the 8 years this is a change of $8,301.59. The average inflation rate of the dollar between 2007 and 2015 was 1.82% per year. The cumulative price increase of the dollar over this time was 14.31%. ## The value of$58,004 from 2007 to 2015

So what does this data mean? It means that the prices in 2015 are 663.06 higher than the average prices since 2007. A dollar in 2015 can buy 87.48% of what it could buy in 2007.

We can look at the buying power equivalent for $58,004 in 2007 to see how much you would need to adjust for in order to beat inflation. For 2007 to 2015, if you started with$58,004 in 2007, you would need to have $66,305.59 in 2007 to keep up with inflation rates. So if we are saying that$58,004 is equivalent to $66,305.59 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$58,004 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
2007 $58,004.00 2.85% 2008$60,231.09 3.84%
2009 $60,016.80 -0.36% 2010$61,001.25 1.64%
2011 $62,926.77 3.16% 2012$64,229.01 2.07%
2013 $65,169.81 1.46% 2014$66,226.98 1.62%