U.S. inflation · 1918–1973
$100 in 1918 has the same buying power as
$294
in 1973
| Cumulative price change | 194.0% |
|---|---|
| Average inflation rate | 1.98% per year |
| Converted amount ($100 base) | $294 |
| Price difference ($100 base) | $194 |
| CPI in 1918 | 15.1 |
| CPI in 1973 | 44.4 |
| Inflation in 1918 | 17.97% |
| Inflation in 1973 | 6.22% |
| $100 in 1918 → 1973 | $294 |
| $100 in 1973 → 1918 | $34.01 |
Between 1918 and 1973, the Consumer Price Index went from 15.1 to 44.4. Cumulatively, prices increased 194.0%, which works out to an average of 1.98% per year. Put differently, a dollar in 1918 bought what $0.34 buys in 1973.
| Amount in 1918 | Value in 1973 |
|---|---|
| $1.00 | $2.94 |
| $5.00 | $14.70 |
| $10.00 | $29.40 |
| $20.00 | $58.81 |
| $50.00 | $147 |
| $100 | $294 |
| $500 | $1,470 |
| $1,000 | $2,940 |
| $5,000 | $14,702 |
| $10,000 | $29,404 |
| $100,000 | $294,040 |
| $1,000,000 | $2,940,397 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1918 spending costs in 1973, by category:
| Category | Avg. yearly inflation | $100 in 1918 → |
|---|---|---|
| All items (CPI-U) | 1.98% | $294 |
| Food | 1.95% | $289 |
| Apparel | 1.58% | $237 |
Not shown because the BLS began these indexes after 1918: 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 1918 |
|---|---|---|---|
| 1918 | 15.1 | 18.0% | $100 |
| 1920 | 20 | 15.6% | $132 |
| 1922 | 16.8 | -6.1% | $111 |
| 1924 | 17.1 | 0.0% | $113 |
| 1926 | 17.7 | 1.1% | $117 |
| 1928 | 17.1 | -1.7% | $113 |
| 1930 | 16.7 | -2.3% | $111 |
| 1932 | 13.7 | -9.9% | $90.73 |
| 1934 | 13.4 | 3.1% | $88.74 |
| 1936 | 13.9 | 1.5% | $92.05 |
| 1938 | 14.1 | -2.1% | $93.38 |
| 1940 | 14 | 0.7% | $92.72 |
| 1942 | 16.3 | 10.9% | $108 |
| 1944 | 17.6 | 1.7% | $117 |
| 1946 | 19.5 | 8.3% | $129 |
| 1948 | 24.1 | 8.1% | $160 |
| 1950 | 24.1 | 1.3% | $160 |
| 1952 | 26.5 | 1.9% | $175 |
| 1954 | 26.9 | 0.7% | $178 |
| 1956 | 27.2 | 1.5% | $180 |
| 1958 | 28.9 | 2.8% | $191 |
| 1960 | 29.6 | 1.7% | $196 |
| 1962 | 30.2 | 1.0% | $200 |
| 1964 | 31 | 1.3% | $205 |
| 1966 | 32.4 | 2.9% | $215 |
| 1968 | 34.8 | 4.2% | $230 |
| 1970 | 38.8 | 5.7% | $257 |
| 1972 | 41.8 | 3.2% | $277 |
| 1973 | 44.4 | 6.2% | $294 |
Long periods are sampled every 2 years; the calculator above covers any pair of years.
MLA: “Inflation from 1918 to 1973: $100 is worth $294 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1918-to-1973/
APA: InflationCalculator.com. Inflation from 1918 to 1973. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1918-to-1973/
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.