U.S. inflation · 1914–1938
$100 in 1914 has the same buying power as
$141
in 1938
| Cumulative price change | 41.0% |
|---|---|
| Average inflation rate | 1.44% per year |
| Converted amount ($100 base) | $141 |
| Price difference ($100 base) | $41.00 |
| CPI in 1914 | 10 |
| CPI in 1938 | 14.1 |
| Inflation in 1914 | 1.01% |
| Inflation in 1938 | -2.08% |
| $100 in 1914 → 1938 | $141 |
| $100 in 1938 → 1914 | $70.92 |
Between 1914 and 1938, the Consumer Price Index went from 10 to 14.1. Cumulatively, prices increased 41.0%, which works out to an average of 1.44% per year. Put differently, a dollar in 1914 bought what $0.71 buys in 1938.
| Amount in 1914 | Value in 1938 |
|---|---|
| $1.00 | $1.41 |
| $5.00 | $7.05 |
| $10.00 | $14.10 |
| $20.00 | $28.20 |
| $50.00 | $70.50 |
| $100 | $141 |
| $500 | $705 |
| $1,000 | $1,410 |
| $5,000 | $7,050 |
| $10,000 | $14,100 |
| $100,000 | $141,000 |
| $1,000,000 | $1,410,000 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1914 spending costs in 1938, by category:
| Category | Avg. yearly inflation | $100 in 1914 → |
|---|---|---|
| All items (CPI-U) | 1.44% | $141 |
| Apparel | 1.59% | $146 |
| Food | 0.71% | $119 |
Not shown because the BLS began these indexes after 1914: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), medical care (1935–), transportation (1935–), recreation (1993–), education & communication (1993–).
| Year | CPI | Inflation rate | $100 from 1914 |
|---|---|---|---|
| 1914 | 10 | 1.0% | $100 |
| 1915 | 10.1 | 1.0% | $101 |
| 1916 | 10.9 | 7.9% | $109 |
| 1917 | 12.8 | 17.4% | $128 |
| 1918 | 15.1 | 18.0% | $151 |
| 1919 | 17.3 | 14.6% | $173 |
| 1920 | 20 | 15.6% | $200 |
| 1921 | 17.9 | -10.5% | $179 |
| 1922 | 16.8 | -6.1% | $168 |
| 1923 | 17.1 | 1.8% | $171 |
| 1924 | 17.1 | 0.0% | $171 |
| 1925 | 17.5 | 2.3% | $175 |
| 1926 | 17.7 | 1.1% | $177 |
| 1927 | 17.4 | -1.7% | $174 |
| 1928 | 17.1 | -1.7% | $171 |
| 1929 | 17.1 | 0.0% | $171 |
| 1930 | 16.7 | -2.3% | $167 |
| 1931 | 15.2 | -9.0% | $152 |
| 1932 | 13.7 | -9.9% | $137 |
| 1933 | 13 | -5.1% | $130 |
| 1934 | 13.4 | 3.1% | $134 |
| 1935 | 13.7 | 2.2% | $137 |
| 1936 | 13.9 | 1.5% | $139 |
| 1937 | 14.4 | 3.6% | $144 |
| 1938 | 14.1 | -2.1% | $141 |
MLA: “Inflation from 1914 to 1938: $100 is worth $141 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1914-to-1938/
APA: InflationCalculator.com. Inflation from 1914 to 1938. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1914-to-1938/
Source: U.S. Bureau of Labor Statistics, CPI-U annual averages (series CUUR0000SA0; category indexes listed on the data sources page). See how these numbers are calculated.