$100 in 1917 is worth $2,451 in 2024,
because prices increased 2350.7% over that period, an average of
3.03% a year.
$100 in 1917 has
the same buying power as
$2,451
in 2024
Detailed inflation statistics
Cumulative price change
2350.7%
Average inflation rate
3.03% per year
Converted amount ($100 base)
$2,451
Price difference ($100 base)
$2,351
CPI in 1917
12.8
CPI in 2024
313.689
Inflation in 1917
17.43%
Inflation in 2024
2.95%
$100 in 1917 → 2024
$2,451
$100 in 2024 → 1917
$4.08
What happened to prices between 1917 and 2024
Between 1917 and 2024, the Consumer Price Index went from 12.8 to 313.689.
Cumulatively, prices increased 2350.7%, which works out to an average of
3.03% per year. Put differently, a dollar in 1917 bought what
$0.04 buys in 2024: the 1917 dollar
lost 95.9% of its purchasing power over
these 107 years.
1917 is when World War I inflation stopped being a background trend and
became the dominant fact of American economic life. Consumer prices rose
17.4% for the year, more than double the previous year’s already sharp
increase, as the country’s April 6 entry into the war layered federal war
spending on top of an economy already strained by military demand and
worker shortages. Congress paid for the war with the War Revenue Act that
October, which sharply raised income taxes, created a new tax on wartime
business profits, and, in a small but very visible change for ordinary
households, raised the cost of a first-class stamp from 2 cents to 3 cents
that November, the rate’s first move since 1885. Herbert Hoover took over
the new Food Administration in August and asked Americans to conserve food
voluntarily rather than face formal rationing, a campaign that became
famous enough that “Hooverize” entered the language as a verb for cutting
back. None of it slowed prices much: the 17.4% increase would be topped
again the very next year, in 1918.
Every 1917 amount converts to 2024 at the same ratio, 24.51: $1,000 becomes
$24,507, and $10,000 becomes $245,070.
Amount in 1917
Value in 2024
$1.00
$24.51
$5.00
$123
$10.00
$245
$20.00
$490
$50.00
$1,225
$100
$2,451
$500
$12,253
$1,000
$24,507
$5,000
$122,535
$10,000
$245,070
$100,000
$2,450,695
$1,000,000
$24,506,953
Inflation by spending category, 1917–2024
Between 1917 and 2024, food rose the most, up 2177.7%, while apparel rose the least, up 550.9%, against 2350.7% for all items. The headline number is an average; here is what $100 of 1917
spending costs in 2024, by category:
Category
Avg. yearly inflation
$100 in 1917 →
All items (CPI-U)
3.03%
$2,451
Food
2.96%
$2,278
Apparel
1.77%
$651
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–).
Decade by decade: 1917 to 2024
Prices climbed fastest in the 1910s, averaging 16.04% a year, and fell in the 1920s (1.8% a year). Each step below chains into the full 1917–2024 change:
Years
Avg. yearly inflation
Price change
$100 from 1917, at end
1917–1920
16.04%
56.3%
$156
1920–1930
-1.79%
-16.5%
$130
1930–1940
-1.75%
-16.2%
$109
1940–1950
5.58%
72.1%
$188
1950–1960
2.08%
22.8%
$231
1960–1970
2.74%
31.1%
$303
1970–1980
7.82%
112.4%
$644
1980–1990
4.72%
58.6%
$1,021
1990–2000
2.80%
31.8%
$1,345
2000–2010
2.39%
26.6%
$1,704
2010–2020
1.73%
18.7%
$2,022
2020–2024
4.93%
21.2%
$2,451
Year by year: CPI and the value of $100 from 1917
$100 from 1917 had already become $327 by
1972, on its way to $2,451 in 2024; 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: 2024
In 2024, prices rose 2.9% and $100 from 1917 had the buying
power of $2,451; the year's average CPI of 313.689 is the level
behind every 2024 figure on this page.
2024 brought inflation close to normal without fully reaching it. Consumer
prices rose 2.9% on average, the smallest yearly increase since 2020, and the
December-to-December rate was also 2.9%. Gasoline averaged $3.30 a gallon,
below 2023’s $3.52. Shelter stayed the biggest driver of the index, so the
pace of price growth in categories that households can’t easily avoid, such as
rent and insurance, lagged the drop in goods and energy costs.
The Federal Reserve declared progress in September, cutting its policy rate
by half a point, the first reduction since the pandemic emergency, and then
by a quarter point in November and again in December. Mortgage rates near 7%
kept the housing market frozen for many would-be buyers.
Median household income was $83,730, the federal minimum wage stayed at $7.25,
and a first-class stamp rose to 73 cents in July. After the November election,
attention turned to how announced tariffs and tax policy might affect prices
in 2025.
MLA: “Inflation from 1917 to 2024: $100 is worth $2,451 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1917-to-2024/
APA: InflationCalculator.com. Inflation from 1917 to 2024. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1917-to-2024/