U.S. inflation · 1917–1940
$100 in 1917 has the same buying power as
$109
in 1940
| Cumulative price change | 9.4% |
|---|---|
| Average inflation rate | 0.39% per year |
| Converted amount ($100 base) | $109 |
| Price difference ($100 base) | $9.38 |
| CPI in 1917 | 12.8 |
| CPI in 1940 | 14 |
| Inflation in 1917 | 17.43% |
| Inflation in 1940 | 0.72% |
| $100 in 1917 → 1940 | $109 |
| $100 in 1940 → 1917 | $91.43 |
Between 1917 and 1940, the Consumer Price Index went from 12.8 to 14. Cumulatively, prices increased 9.4%, which works out to an average of 0.39% per year. Put differently, a dollar in 1917 bought what $0.91 buys in 1940.
| Amount in 1917 | Value in 1940 |
|---|---|
| $1.00 | $1.09 |
| $5.00 | $5.47 |
| $10.00 | $10.94 |
| $20.00 | $21.88 |
| $50.00 | $54.69 |
| $100 | $109 |
| $500 | $547 |
| $1,000 | $1,094 |
| $5,000 | $5,469 |
| $10,000 | $10,938 |
| $100,000 | $109,375 |
| $1,000,000 | $1,093,750 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1917 spending costs in 1940, by category:
| Category | Avg. yearly inflation | $100 in 1917 → |
|---|---|---|
| All items (CPI-U) | 0.39% | $109 |
| Apparel | 0.33% | $108 |
| Food | -0.82% | $82.76 |
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 |
| 1940 | 14 | 0.7% | $109 |
MLA: “Inflation from 1917 to 1940: $100 is worth $109 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1917-to-1940/
APA: InflationCalculator.com. Inflation from 1917 to 1940. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1917-to-1940/
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.