$7 in 1960 is worth $7.07 in 1961


$7 in 1960 has the same purchasing power as $7.07 in 1961. Over the 1 year this is a change of $0.07.

The average inflation rate of the dollar between 1960 and 1961 was 1.37% per year. The cumulative price increase of the dollar over this time was 1.01%.

The value of $7 from 1960 to 1961

So what does this data mean? It means that the prices in 1961 are 0.07 higher than the average prices since 1960. A dollar in 1961 can buy 99.00% of what it could buy in 1960.

These inflation figures use the Bureau of Labor Statistics (BLS) consumer price index to calculate the value of $7 between 1960 and 1961.

The inflation rate for 1960 was 1.72%, while the inflation rate for 1961 was 1.01%. The 1961 inflation rate is lower than the average inflation rate of 3.70% per year between 1961 and 2021.

USD Inflation Since 1913


The Buying Power of $7 in 1960

We can look at the buying power equivalent for $7 in 1960 to see how much you would need to adjust for in order to beat inflation. For 1960 to 1961, if you started with $7 in 1960, you would need to have $7.07 in 1960 to keep up with inflation rates.

So if we are saying that $7 is equivalent to $7.07 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.


Value of $7 Over Time


Year Dollar Value Inflation Rate
1960 $7.00 1.72%
1961 $7.07 1.01%

US Dollar Inflation Conversion


Initial Value Equivalent Value
$1.00 in 1960 $1.01 in 1961
$5.00 in 1960 $5.05 in 1961
$10.00 in 1960 $10.10 in 1961
$50.00 in 1960 $50.51 in 1961
$100.00 in 1960 $101.01 in 1961
$500.00 in 1960 $505.07 in 1961
$1,000.00 in 1960 $1,010.14 in 1961
$5,000.00 in 1960 $5,050.68 in 1961
$10,000.00 in 1960 $10,101.35 in 1961
$50,000.00 in 1960 $50,506.76 in 1961
$100,000.00 in 1960 $101,013.51 in 1961
$500,000.00 in 1960 $505,067.57 in 1961
$1,000,000.00 in 1960 $1,010,135.14 in 1961

Calculate Inflation Rate for $7 from 1960 to 1961

To calculate the inflation rate of $7 from 1960 to 1961, we use the following formula:

$$\dfrac{ 1960\; USD\; value \times CPI\; in\; 1961 }{ CPI\; in\; 1960 } = 1961\; USD\; value $$

We then replace the variables with the historical CPI values. The CPI in 1960 was 29.6 and 29.9 in 1961.

$$\dfrac{ \$7 \times 29.9 }{ 29.6 } = \text{ \$7.07 } $$


To work out the total inflation rate for the 1 year between 1960 and 1961, we can use a different formula:

$$ \dfrac{\text{CPI in 1961 } - \text{ CPI in 1960 } }{\text{CPI in 1960 }} \times 100 = \text{Cumulative rate for 1 year} $$


$$ \dfrac{\text{ 29.9 } - \text{ 29.6 } }{\text{ 29.6 }} \times 100 = \text{ 1.01\% } $$

Inflation Rate Definition





Link To or Reference This Page


  • "$7 in 1960 is worth $7.07 in 1961". StudyFinance.com. Accessed on July 29, 2021. https://studyfinance.com/inflation/us/1960/7/1961/.

  • "$7 in 1960 is worth $7.07 in 1961". StudyFinance.com, https://studyfinance.com/inflation/us/1960/7/1961/. Accessed 29 July, 2021

  • $7 in 1960 is worth $7.07 in 1961. StudyFinance.com. Retrieved from https://studyfinance.com/inflation/us/1960/7/1961/.