U.S. inflation · 1916–1948
$100 in 1916 has the same buying power as
$221
in 1948
| Cumulative price change | 121.1% |
|---|---|
| Average inflation rate | 2.51% per year |
| Converted amount ($100 base) | $221 |
| Price difference ($100 base) | $121 |
| CPI in 1916 | 10.9 |
| CPI in 1948 | 24.1 |
| Inflation in 1916 | 7.92% |
| Inflation in 1948 | 8.07% |
| $100 in 1916 → 1948 | $221 |
| $100 in 1948 → 1916 | $45.23 |
Between 1916 and 1948, the Consumer Price Index went from 10.9 to 24.1. Cumulatively, prices increased 121.1%, which works out to an average of 2.51% per year. Put differently, a dollar in 1916 bought what $0.45 buys in 1948.
| Amount in 1916 | Value in 1948 |
|---|---|
| $1.00 | $2.21 |
| $5.00 | $11.06 |
| $10.00 | $22.11 |
| $20.00 | $44.22 |
| $50.00 | $111 |
| $100 | $221 |
| $500 | $1,106 |
| $1,000 | $2,211 |
| $5,000 | $11,055 |
| $10,000 | $22,110 |
| $100,000 | $221,101 |
| $1,000,000 | $2,211,009 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1916 spending costs in 1948, by category:
| Category | Avg. yearly inflation | $100 in 1916 → |
|---|---|---|
| All items (CPI-U) | 2.51% | $221 |
| Apparel | 2.94% | $253 |
| Food | 2.65% | $231 |
Not shown because the BLS began these indexes after 1916: 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 1916 |
|---|---|---|---|
| 1916 | 10.9 | 7.9% | $100 |
| 1918 | 15.1 | 18.0% | $139 |
| 1920 | 20 | 15.6% | $183 |
| 1922 | 16.8 | -6.1% | $154 |
| 1924 | 17.1 | 0.0% | $157 |
| 1926 | 17.7 | 1.1% | $162 |
| 1928 | 17.1 | -1.7% | $157 |
| 1930 | 16.7 | -2.3% | $153 |
| 1932 | 13.7 | -9.9% | $126 |
| 1934 | 13.4 | 3.1% | $123 |
| 1936 | 13.9 | 1.5% | $128 |
| 1938 | 14.1 | -2.1% | $129 |
| 1940 | 14 | 0.7% | $128 |
| 1942 | 16.3 | 10.9% | $150 |
| 1944 | 17.6 | 1.7% | $161 |
| 1946 | 19.5 | 8.3% | $179 |
| 1948 | 24.1 | 8.1% | $221 |
Long periods are sampled every 2 years; the calculator above covers any pair of years.
MLA: “Inflation from 1916 to 1948: $100 is worth $221 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1916-to-1948/
APA: InflationCalculator.com. Inflation from 1916 to 1948. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1916-to-1948/
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.