👉 You may be interested in $10,000,000 in 1991 → **2021**

$10,000,000 in 1991 is equivalent in purchasing power to about $18,445,668.14 in 2018, an increase of $8,445,668.14 over 27 years. The dollar had an average inflation rate of 2.29% per year between 1991 and 2018, producing a cumulative price increase of 84.46%.

This means that prices in 2018 are 1.84 times higher than average prices since 1991, according to the Bureau of Labor Statistics consumer price index.

The 1991 inflation rate was 4.21%. The inflation rate in 2018 was 2.49%. The 2018 inflation rate is lower compared to the average inflation rate of 2.97% per year between 2018 and 2021.

Contents

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Cumulative price change | 84.46% |

Average inflation rate | 2.29% |

Converted amount ($10,000,000 base) | $18,445,668.14 |

Price difference ($10,000,000 base) | $8,445,668.14 |

CPI in 1991 | 136.200 |

CPI in 2018 | 251.230 |

Inflation in 1991 | 4.21% |

Inflation in 2018 | 2.49% |

$10,000,000 in 1991 | $18,445,668.14 in 2018 |

This chart shows a calculation of buying power equivalence for $10,000,000 in 1991 (price index tracking began in 1635).

For example, if you started with $10,000,000, you would need to end with $18,445,668.14 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $10,000,000 is equivalent to $18,445,668.14 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1991 dollars, the chart below shows how $10,000,000 is worth less over 27 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

This conversion table shows various other 1991 amounts in 2018 dollars, based on the 84.46% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1991 | $1.84 dollars in 2018 |

$5 dollars in 1991 | $9.22 dollars in 2018 |

$10 dollars in 1991 | $18.45 dollars in 2018 |

$50 dollars in 1991 | $92.23 dollars in 2018 |

$100 dollars in 1991 | $184.46 dollars in 2018 |

$500 dollars in 1991 | $922.28 dollars in 2018 |

$1,000 dollars in 1991 | $1,844.57 dollars in 2018 |

$5,000 dollars in 1991 | $9,222.83 dollars in 2018 |

$10,000 dollars in 1991 | $18,445.67 dollars in 2018 |

$50,000 dollars in 1991 | $92,228.34 dollars in 2018 |

$100,000 dollars in 1991 | $184,456.68 dollars in 2018 |

$500,000 dollars in 1991 | $922,283.41 dollars in 2018 |

$1,000,000 dollars in 1991 | $1,844,566.81 dollars in 2018 |

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1991 to 2018 (figures shown are purchasing power equivalents of $10,000,000):

**Seattle, Washington**: 3.51% average rate, $10,000,000 → $25,354,814.29, cumulative change of 153.55%**San Diego, California**: 3.47% average rate, $10,000,000 → $25,110,286.46, cumulative change of 151.10%**Atlanta, Georgia**: 2.79% average rate, $10,000,000 → $21,001,226.14, cumulative change of 110.01%**Denver, Colorado**: 2.76% average rate, $10,000,000 → $20,856,528.66, cumulative change of 108.57%**San Francisco, California**: 2.73% average rate, $10,000,000 → $20,687,461.48, cumulative change of 106.87%**Miami-Fort Lauderdale, Florida**: 2.61% average rate, $10,000,000 → $20,047,730.42, cumulative change of 100.48%**Tampa, Florida**: 2.46% average rate, $10,000,000 → $19,266,580.76, cumulative change of 92.67%**Boston, Massachusetts**: 2.41% average rate, $10,000,000 → $19,019,615.74, cumulative change of 90.20%**New York**: 2.39% average rate, $10,000,000 → $18,897,824.59, cumulative change of 88.98%**Minneapolis-St Paul, Minnesota**: 2.36% average rate, $10,000,000 → $18,785,966.26, cumulative change of 87.86%**Houston, Texas**: 2.22% average rate, $10,000,000 → $18,080,281.41, cumulative change of 80.80%**Dallas-Fort Worth, Texas**: 2.16% average rate, $10,000,000 → $17,809,133.82, cumulative change of 78.09%**Philadelphia, Pennsylvania**: 2.14% average rate, $10,000,000 → $17,697,931.07, cumulative change of 76.98%**Detroit, Michigan**: 2.09% average rate, $10,000,000 → $17,458,918.28, cumulative change of 74.59%**Chicago, Illinois**: 2.06% average rate, $10,000,000 → $17,345,545.76, cumulative change of 73.46%**St Louis, Missouri**: 2.06% average rate, $10,000,000 → $17,324,110.52, cumulative change of 73.24%

Seattle, Washington experienced the highest rate of inflation during the 27 years between 1991 and 2018 (3.51%).

St Louis, Missouri experienced the lowest rate of inflation during the 27 years between 1991 and 2018 (2.06%).

Note that some locations showing 0% inflation may have not yet reported latest data.

Inflation can also vary widely by country. For comparison, in the UK £10,000,000.00 in 1991 would be equivalent to £20,959,223.47 in 2018, an absolute change of £10,959,223.47 and a cumulative change of 109.59%.

In Canada, CA$10,000,000.00 in 1991 would be equivalent to CA$15,778,045.84 in 2018, an absolute change of CA$5,778,045.84 and a cumulative change of 57.78%.

Compare these numbers to the US's overall absolute change of $8,445,668.14 and total percent change of 84.46%.

CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes. This chart shows the average rate of inflation for select CPI categories between 1991 and 2018.

Compare these values to the overall average of 2.29% per year:

Category | Avg Inflation (%) | Total Inflation (%) | $10,000,000 in 1991 → 2018 |
---|---|---|---|

Food and beverages | 2.31 | 85.25 | 18,524,713.62 |

Housing | 2.47 | 93.47 | 19,347,218.06 |

Apparel | -0.09 | -2.37 | 9,762,771.93 |

Transportation | 1.99 | 70.12 | 17,012,212.70 |

Medical care | 3.80 | 173.82 | 27,382,196.25 |

Recreation | 1.09 | 33.96 | 13,396,201.26 |

Education and communication | 1.89 | 65.98 | 16,597,506.85 |

Other goods and services | 3.57 | 157.76 | 25,775,844.99 |

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1991. This table and charts use the earliest available data for each category.

Our calculations use the following inflation rate formula to calculate the change in value between 1991 and 2018:

CPI in 2018
CPI in 1991

×

1991 USD value

=

2018 USD value

Then plug in historical CPI values. The U.S. CPI was 136.2 in the year 1991 and 251.23 in 2018:

251.23136.2

×

$10,000,000

=

$10,000,000 in 1991 has the same "purchasing power" or "buying power" as $18,445,668.14 in 2018.

To get the total inflation rate for the 27 years between 1991 and 2018, we use the following formula:

CPI in 2018 - CPI in 1991CPI in 1991

×

100

=

Plugging in the values to this equation, we get:

251.23 - 136.2136.2

×

100

=

The above data describe the CPI for all items. Also of note is the **Core CPI**, which measures inflation for all items except for the more volatile categories of food and energy.
Core inflation averaged 2.23% per year between 1991 and 2018 (vs all-CPI inflation of 2.29%), for an inflation total of 81.25%.

When using the core inflation measurement, $10,000,000 in 1991 is equivalent in buying power to $18,124,640.03 in 2018, a difference of $8,124,640.03. Recall that for All Items, the converted amount is $18,445,668.14 with a difference of $8,445,668.14.

In 1991, core inflation was 4.91%.

The average inflation rate of 2.29% has a compounding effect between 1991 and 2018. As noted above, this yearly inflation rate compounds to produce an overall price difference of 84.46% over 27 years.

To help put this inflation into perspective, if we had invested $10,000,000 in the S&P 500 index in 1991, our investment would be * nominally* worth approximately $140,730,695.46 in 2018. This is a return on investment of 1,307.31%, with an absolute return of $130,730,695.46 on top of the original $10,000,000.

These numbers are not inflation adjusted, so they are considered *nominal*. In order to evaluate the *real* return on our investment, we must calculate the return with inflation taken into account.

The compounding effect of inflation would account for 45.79% of returns ($64,435,982.56) during this period. This means the inflation-adjusted * real* return of our $10,000,000 investment is $66,294,712.90. You may also want to account for capital gains tax, which would take your real return down to around $56,350,506 for most people.

Original Amount | Final Amount | Change | |
---|---|---|---|

Nominal |
$10,000,000 | $140,730,695.46 | 1,307.31% |

RealInflation Adjusted |
$10,000,000 | $76,294,712.90 | 662.95% |

Information displayed above may differ slightly from other S&P 500 calculators. Minor discrepancies can occur because we use the latest CPI data for inflation, annualized inflation numbers for previous years, and we compute S&P price and dividends from January of 1991 to latest available data for 2018 using average monthly close price.

For more details on the S&P 500 between 1991 and 2018, see the stock market returns calculator.

Politics and news often influence economic performance. Here's what was happening at the time:

- The IRA launch a bomb attack on Downing Street, during a cabinet meeting.
- America liberates Kuwait signalling the end of the first Gulf War.
- Tim Berners-Lee releases files that describe the idea of the World Wide Web.
- Pablo Escobar, a Colombian drug lord, surrenders to the police.
- Boris Yeltsin becomes the first elected president of Russia.

Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.

You may use the following MLA citation for this page: “$10,000,000 in 1991 → 2018 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 17 Oct. 2021, https://www.officialdata.org/1991-dollars-in-2018?amount=10000000.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

Cumulative price change | 84.46% |

Average inflation rate | 2.29% |

Converted amount ($10,000,000 base) | $18,445,668.14 |

Price difference ($10,000,000 base) | $8,445,668.14 |

CPI in 1991 | 136.200 |

CPI in 2018 | 251.230 |

Inflation in 1991 | 4.21% |

Inflation in 2018 | 2.49% |

$10,000,000 in 1991 | $18,445,668.14 in 2018 |