U.S. inflation · 1916–1962

Value of $100 in 1916, adjusted to 1962

$100 in 1916 is worth $277 in 1962, because prices increased 177.1% over that period, an average of 2.24% a year.

$100 in 1916 has the same buying power as

$277

in 1962

$100$189$27719161928193919511962$100 · 1916$277 · 1962
Detailed inflation statistics
Cumulative price change177.1%
Average inflation rate2.24% per year
Converted amount ($100 base)$277
Price difference ($100 base)$177
CPI in 191610.9
CPI in 196230.2
Inflation in 19167.92%
Inflation in 19621.00%
$100 in 1916 → 1962$277
$100 in 1962 → 1916$36.09

What happened to prices between 1916 and 1962

Between 1916 and 1962, the Consumer Price Index went from 10.9 to 30.2. Cumulatively, prices increased 177.1%, which works out to an average of 2.24% per year. Put differently, a dollar in 1916 bought what $0.36 buys in 1962: the 1916 dollar lost 63.9% of its purchasing power over these 46 years.

1916 was when World War I first showed up clearly in American price tags. Consumer prices rose 7.9% for the year, easily the sharpest increase since the Bureau of Labor Statistics’ CPI history begins in 1913, as factories ran flat out to fill steel, munitions, and food orders from Britain and France. Railroad workers felt the squeeze from rising living costs enough to threaten a nationwide strike; Congress headed it off in September with the Adamson Act, which set an eight-hour standard workday for interstate rail employees, the first federal law of its kind covering private-sector hours. Washington was also preparing more directly for war: the National Defense Act, signed in June, expanded the Army and National Guard and funded new government-owned munitions plants, adding another source of demand to an economy already running hot. Woodrow Wilson won re-election in November largely on having kept the country out of the fighting so far, a promise that would not survive the following spring. A first-class stamp still cost 2 cents, one of the few prices that had not yet moved.

More about inflation in 1916 →

Common amounts: 1916 dollars in 1962

Every 1916 amount converts to 1962 at the same ratio, 2.77: $1,000 becomes $2,771, and $10,000 becomes $27,706.

Amount in 1916Value in 1962
$1.00$2.77
$5.00$13.85
$10.00$27.71
$20.00$55.41
$50.00$139
$100$277
$500$1,385
$1,000$2,771
$5,000$13,853
$10,000$27,706
$100,000$277,064
$1,000,000$2,770,642

Inflation by spending category, 1916–1962

Between 1916 and 1962, apparel rose the most, up 175.6%, while food rose the least, up 170.8%, against 177.1% for all items. The headline number is an average; here is what $100 of 1916 spending costs in 1962, by category:

Category Avg. yearly inflation $100 in 1916 →
All items (CPI-U) 2.24% $277
Apparel 2.23% $276
Food 2.19% $271

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–).

Decade by decade: 1916 to 1962

Prices climbed fastest in the 1910s, averaging 16.39% a year, and fell in the 1920s (1.8% a year). Each step below chains into the full 1916–1962 change:

Years Avg. yearly inflation Price change $100 from 1916, at end
1916–1920 16.39% 83.5% $183
1920–1930 -1.79% -16.5% $153
1930–1940 -1.75% -16.2% $128
1940–1950 5.58% 72.1% $221
1950–1960 2.08% 22.8% $272
1960–1962 1.01% 2.0% $277

Year by year: CPI and the value of $100 from 1916

$100 from 1916 had already become $129 by 1938, on its way to $277 in 1962; each row shows the CPI, that year's inflation rate, and the running value. Within the span, inflation peaked at 18.0% in 1918, and prices fell 10.5% in 1921, the deepest deflation of the period.

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
1950 24.1 1.3% $221
1952 26.5 1.9% $243
1954 26.9 0.7% $247
1956 27.2 1.5% $250
1958 28.9 2.8% $265
1960 29.6 1.7% $272
1962 30.2 1.0% $277

Long periods are sampled every 2 years; the calculator above covers any pair of years.

The destination year: 1962

In 1962, prices rose 1.0% and $100 from 1916 had the buying power of $277; the year's average CPI of 30.2 is the level behind every 1962 figure on this page.

Consumer prices rose 1.0% in 1962, matching 1961’s pace as inflation stayed remarkably low and unemployment slowly declined from its recession-era highs. That January, Kennedy’s Council of Economic Advisers introduced “wage-price guideposts,” non-binding targets meant to keep pay and price increases in line with productivity growth without formal controls. The space race delivered a milestone that February, when John Glenn’s Friendship 7 capsule circled Earth three times, making him the first American to orbit the planet. Markets got a scare that spring: a dispute over U.S. Steel’s April price increase, which Kennedy publicly pressured the company into rolling back, rattled investors, and the Dow Jones Industrial Average fell about 5.7% on May 28, its steepest one-day drop since the 1929 crash. The year’s gravest moment came that October, when American reconnaissance photographed Soviet nuclear missiles in Cuba, setting off a 13-day standoff that brought the two superpowers closer to nuclear war than at any other point in the Cold War before the Soviet Union agreed to remove the missiles in exchange for a U.S. pledge not to invade the island. Consumer prices finished 1962 205.1% above their 1913 level. First-class postage held at 4 cents, and the minimum wage stayed at $1.15 an hour.

More about inflation in 1962 →

Cite this page

MLA: “Inflation from 1916 to 1962: $100 is worth $277 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1916-to-1962/

APA: InflationCalculator.com. Inflation from 1916 to 1962. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1916-to-1962/

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.