$4.50 in 1960 is worth $36.62 in 2016.
Use BLS.gov's CPI Inflation Calculator to easily calculate how the buying power of the US dollar has changed over the years.
Note: The CPI inflation calculator uses the average Consumer Price Index for a given calendar year. This data represents changes in prices of all goods and services purchased for consumption by urban households. This index value has been calculated every year since 1913. For the current year, the latest monthly index value is used.
For more information, see the guide to available CPI data.
Tip! Take a look on some guides to understanding inflation and how it affects foreign exchange trading at Dailyfx.com.