$100 in 1916 is worth $1,733 in 2004,
because prices increased 1633.0% over that period, an average of
3.29% a year.
$100 in 1916 has
the same buying power as
$1,733
in 2004
Detailed inflation statistics
Cumulative price change
1633.0%
Average inflation rate
3.29% per year
Converted amount ($100 base)
$1,733
Price difference ($100 base)
$1,633
CPI in 1916
10.9
CPI in 2004
188.9
Inflation in 1916
7.92%
Inflation in 2004
2.66%
$100 in 1916 → 2004
$1,733
$100 in 2004 → 1916
$5.77
What happened to prices between 1916 and 2004
Between 1916 and 2004, the Consumer Price Index went from 10.9 to 188.9.
Cumulatively, prices increased 1633.0%, which works out to an average of
3.29% per year. Put differently, a dollar in 1916 bought what
$0.06 buys in 2004: the 1916 dollar
lost 94.2% of its purchasing power over
these 88 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.
Every 1916 amount converts to 2004 at the same ratio, 17.33: $1,000 becomes
$17,330, and $10,000 becomes $173,303.
Amount in 1916
Value in 2004
$1.00
$17.33
$5.00
$86.65
$10.00
$173
$20.00
$347
$50.00
$867
$100
$1,733
$500
$8,665
$1,000
$17,330
$5,000
$86,651
$10,000
$173,303
$100,000
$1,733,028
$1,000,000
$17,330,275
Inflation by spending category, 1916–2004
Between 1916 and 2004, food rose the most, up 1547.8%, while apparel rose the least, up 616.7%, against 1633.0% for all items. The headline number is an average; here is what $100 of 1916
spending costs in 2004, by category:
Category
Avg. yearly inflation
$100 in 1916 →
All items (CPI-U)
3.29%
$1,733
Food
3.24%
$1,648
Apparel
2.26%
$717
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 2004
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 1916–2004 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
1960–1970
2.74%
31.1%
$356
1970–1980
7.82%
112.4%
$756
1980–1990
4.72%
58.6%
$1,199
1990–2000
2.80%
31.8%
$1,580
2000–2004
2.34%
9.7%
$1,733
Year by year: CPI and the value of $100 from 1916
$100 from 1916 had already become $274 by
1961, on its way to $1,733 in 2004; 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.
Long periods are sampled every 5 years; the calculator above covers any pair of years.
The destination year: 2004
In 2004, prices rose 2.7% and $100 from 1916 had the buying
power of $1,733; the year's average CPI of 188.9 is the level
behind every 2004 figure on this page.
Consumer prices rose 2.7% in 2004, with a 29-cent jump in the price of gasoline, to $1.88 a
gallon, doing much of the work. Crude oil passed $50 a barrel in October on rising demand
from China and India. The Federal Reserve raised rates for the first time in four years on
June 30, to 1.25%, and it kept going: 17 consecutive quarter-point increases took the rate to
5.25% by June 2006. Housing was already running ahead of incomes. The median household earned
about $44,300, up 2.3% from 2003, while the median new home sold for $221,000, up about 13%. A
first-class stamp stayed at 37 cents and the federal minimum wage at $5.15, unchanged since
1997.
MLA: “Inflation from 1916 to 2004: $100 is worth $1,733 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1916-to-2004/
APA: InflationCalculator.com. Inflation from 1916 to 2004. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1916-to-2004/