Is there a formula for figuring dollar worth: for instance in 1930 a
house cost $3,000 what would that 3,000 be in 2002 dollars. Also dates
in between 1930 and 2002. Thank you Celtic-ga

Hello celtic and thank you for your question.

Yes there is a way to calculate these figures.  If you go to this
website: http://www.orst.edu/Dept/pol_sci/fac/sahr/sahr.htm
near the top of the page you will see "Download Conversion Factors
[revised to reflect final 2001 CPI data and updated McCusker data]
Excel file with column-format conversion factors 1665 to estimated
2012:" if you click on the link it will take you to this Microsoft
Excel spreadsheet:
http://www.orst.edu/Dept/pol_sci/fac/sahr/cf166502.xls


"To convert dollars of any year 1665 to estimated 2012 to dollars of
the base year (CPI [1982-84], estimated 2002, or other years, DIVIDE
that year's dollar amount by the conversion factor (CF) for that base
year, and round to 2-3 decimal places"
"For example, to convert $1000 dollars of 1960 to dollars of CPI
(1982-84):  $1000/0.296 = $3378"

Using your example we can see that $3,000 in 1930 would be worth
$32,258 in 2002

ie. one 1930 dollar would have the purchasing power of about 9.3 cents
today.

Thank you for your question and if you need any clarification of my
answer, do not hesitate to ask.

Best regards

THX1138

Search strategy included:
"dollar conversion factors " historical
://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&as_qdr=all&q=+%22dollar+conversion+factors+%22+historical&btnG=Google+Search

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Clarification of Answer by thx1138-ga on 09 Jan 2003 10:18 PST

Hello again celtic,

Whilst rumaging around the net on a completely different mission I
came across this site:
http://woodrow.mpls.frb.fed.us/Research/data/us/calc/index.cfm
and immeditately remembered your question.......
I hope you find it useful.

Happy new year!

THX1138