# $56,305 in 2014 is worth$57,082.97 in 2016

$56,305 in 2014 has the same purchasing power as$57,082.97 in 2016. Over the 2 years this is a change of $777.97. The average inflation rate of the dollar between 2014 and 2016 was 1.00% per year. The cumulative price increase of the dollar over this time was 1.38%. ## The value of$56,305 from 2014 to 2016

So what does this data mean? It means that the prices in 2016 are 570.83 higher than the average prices since 2014. A dollar in 2016 can buy 98.64% of what it could buy in 2014.

We can look at the buying power equivalent for $56,305 in 2014 to see how much you would need to adjust for in order to beat inflation. For 2014 to 2016, if you started with$56,305 in 2014, you would need to have $57,082.97 in 2014 to keep up with inflation rates. So if we are saying that$56,305 is equivalent to $57,082.97 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$56,305 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
2014 $56,305.00 1.62% 2015$56,371.83 0.12%