U.S. inflation · 1917–1939
$100 in 1917 has the same buying power as
$109
in 1939
| Cumulative price change | 8.6% |
|---|---|
| Average inflation rate | 0.38% per year |
| Converted amount ($100 base) | $109 |
| Price difference ($100 base) | $8.59 |
| CPI in 1917 | 12.8 |
| CPI in 1939 | 13.9 |
| Inflation in 1917 | 17.43% |
| Inflation in 1939 | -1.42% |
| $100 in 1917 → 1939 | $109 |
| $100 in 1939 → 1917 | $92.09 |
Between 1917 and 1939, the Consumer Price Index went from 12.8 to 13.9. Cumulatively, prices increased 8.6%, which works out to an average of 0.38% per year. Put differently, a dollar in 1917 bought what $0.92 buys in 1939.
| Amount in 1917 | Value in 1939 |
|---|---|
| $1.00 | $1.09 |
| $5.00 | $5.43 |
| $10.00 | $10.86 |
| $20.00 | $21.72 |
| $50.00 | $54.30 |
| $100 | $109 |
| $500 | $543 |
| $1,000 | $1,086 |
| $5,000 | $5,430 |
| $10,000 | $10,859 |
| $100,000 | $108,594 |
| $1,000,000 | $1,085,938 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1917 spending costs in 1939, by category:
| Category | Avg. yearly inflation | $100 in 1917 → |
|---|---|---|
| All items (CPI-U) | 0.38% | $109 |
| Apparel | 0.31% | $107 |
| Food | -0.93% | $81.38 |
Not shown because the BLS began these indexes after 1917: 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 1917 |
|---|---|---|---|
| 1917 | 12.8 | 17.4% | $100 |
| 1918 | 15.1 | 18.0% | $118 |
| 1919 | 17.3 | 14.6% | $135 |
| 1920 | 20 | 15.6% | $156 |
| 1921 | 17.9 | -10.5% | $140 |
| 1922 | 16.8 | -6.1% | $131 |
| 1923 | 17.1 | 1.8% | $134 |
| 1924 | 17.1 | 0.0% | $134 |
| 1925 | 17.5 | 2.3% | $137 |
| 1926 | 17.7 | 1.1% | $138 |
| 1927 | 17.4 | -1.7% | $136 |
| 1928 | 17.1 | -1.7% | $134 |
| 1929 | 17.1 | 0.0% | $134 |
| 1930 | 16.7 | -2.3% | $130 |
| 1931 | 15.2 | -9.0% | $119 |
| 1932 | 13.7 | -9.9% | $107 |
| 1933 | 13 | -5.1% | $102 |
| 1934 | 13.4 | 3.1% | $105 |
| 1935 | 13.7 | 2.2% | $107 |
| 1936 | 13.9 | 1.5% | $109 |
| 1937 | 14.4 | 3.6% | $113 |
| 1938 | 14.1 | -2.1% | $110 |
| 1939 | 13.9 | -1.4% | $109 |
MLA: “Inflation from 1917 to 1939: $100 is worth $109 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1917-to-1939/
APA: InflationCalculator.com. Inflation from 1917 to 1939. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1917-to-1939/
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.