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$1 in 2020 is worth $1.20 today

$1 in 2020 is equivalent in purchasing power to about $1.20 today, an increase of $0.20 over 4 years. The dollar had an average inflation rate of 4.64% per year between 2020 and today, producing a cumulative price increase of 19.90%.

This means that today's prices are 1.20 times as high as average prices since 2020, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 83.333% of what it could buy back then.

The inflation rate in 2020 was 1.23%. The current inflation rate compared to last year is now 3.15%. If this number holds, $1 today will be equivalent in buying power to $1.03 next year. The current inflation rate page gives more detail on the latest inflation rates.