U.S. inflation · 1918–2004
$100 in 1918 has the same buying power as
$1,251
in 2004
| Cumulative price change | 1151.0% |
|---|---|
| Average inflation rate | 2.98% per year |
| Converted amount ($100 base) | $1,251 |
| Price difference ($100 base) | $1,151 |
| CPI in 1918 | 15.1 |
| CPI in 2004 | 188.9 |
| Inflation in 1918 | 17.97% |
| Inflation in 2004 | 2.66% |
| $100 in 1918 → 2004 | $1,251 |
| $100 in 2004 → 1918 | $7.99 |
Between 1918 and 2004, the Consumer Price Index went from 15.1 to 188.9. Cumulatively, prices increased 1151.0%, which works out to an average of 2.98% per year. Put differently, a dollar in 1918 bought what $0.08 buys in 2004.
| Amount in 1918 | Value in 2004 |
|---|---|
| $1.00 | $12.51 |
| $5.00 | $62.55 |
| $10.00 | $125 |
| $20.00 | $250 |
| $50.00 | $625 |
| $100 | $1,251 |
| $500 | $6,255 |
| $1,000 | $12,510 |
| $5,000 | $62,550 |
| $10,000 | $125,099 |
| $100,000 | $1,250,993 |
| $1,000,000 | $12,509,934 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1918 spending costs in 2004, by category:
| Category | Avg. yearly inflation | $100 in 1918 → |
|---|---|---|
| All items (CPI-U) | 2.98% | $1,251 |
| Food | 2.84% | $1,115 |
| Apparel | 1.74% | $441 |
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 |
| 1923 | 17.1 | 1.8% | $113 |
| 1928 | 17.1 | -1.7% | $113 |
| 1933 | 13 | -5.1% | $86.09 |
| 1938 | 14.1 | -2.1% | $93.38 |
| 1943 | 17.3 | 6.1% | $115 |
| 1948 | 24.1 | 8.1% | $160 |
| 1953 | 26.7 | 0.8% | $177 |
| 1958 | 28.9 | 2.8% | $191 |
| 1963 | 30.6 | 1.3% | $203 |
| 1968 | 34.8 | 4.2% | $230 |
| 1973 | 44.4 | 6.2% | $294 |
| 1978 | 65.2 | 7.6% | $432 |
| 1983 | 99.6 | 3.2% | $660 |
| 1988 | 118.3 | 4.1% | $783 |
| 1993 | 144.5 | 3.0% | $957 |
| 1998 | 163 | 1.6% | $1,079 |
| 2003 | 184 | 2.3% | $1,219 |
| 2004 | 188.9 | 2.7% | $1,251 |
Long periods are sampled every 5 years; the calculator above covers any pair of years.
MLA: “Inflation from 1918 to 2004: $100 is worth $1,251 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1918-to-2004/
APA: InflationCalculator.com. Inflation from 1918 to 2004. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1918-to-2004/
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.