U.S. inflation · 1923–1980
$100 in 1923 has the same buying power as
$482
in 1980
| Cumulative price change | 381.9% |
|---|---|
| Average inflation rate | 2.80% per year |
| Converted amount ($100 base) | $482 |
| Price difference ($100 base) | $382 |
| CPI in 1923 | 17.1 |
| CPI in 1980 | 82.4 |
| Inflation in 1923 | 1.79% |
| Inflation in 1980 | 13.50% |
| $100 in 1923 → 1980 | $482 |
| $100 in 1980 → 1923 | $20.75 |
Between 1923 and 1980, the Consumer Price Index went from 17.1 to 82.4. Cumulatively, prices increased 381.9%, which works out to an average of 2.80% per year. Put differently, a dollar in 1923 bought what $0.21 buys in 1980.
| Amount in 1923 | Value in 1980 |
|---|---|
| $1.00 | $4.82 |
| $5.00 | $24.09 |
| $10.00 | $48.19 |
| $20.00 | $96.37 |
| $50.00 | $241 |
| $100 | $482 |
| $500 | $2,409 |
| $1,000 | $4,819 |
| $5,000 | $24,094 |
| $10,000 | $48,187 |
| $100,000 | $481,871 |
| $1,000,000 | $4,818,713 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1923 spending costs in 1980, by category:
| Category | Avg. yearly inflation | $100 in 1923 → |
|---|---|---|
| All items (CPI-U) | 2.80% | $482 |
| Food | 3.08% | $564 |
| Apparel | 2.15% | $335 |
Not shown because the BLS began these indexes after 1923: 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 1923 |
|---|---|---|---|
| 1923 | 17.1 | 1.8% | $100 |
| 1925 | 17.5 | 2.3% | $102 |
| 1927 | 17.4 | -1.7% | $102 |
| 1929 | 17.1 | 0.0% | $100 |
| 1931 | 15.2 | -9.0% | $88.89 |
| 1933 | 13 | -5.1% | $76.02 |
| 1935 | 13.7 | 2.2% | $80.12 |
| 1937 | 14.4 | 3.6% | $84.21 |
| 1939 | 13.9 | -1.4% | $81.29 |
| 1941 | 14.7 | 5.0% | $85.96 |
| 1943 | 17.3 | 6.1% | $101 |
| 1945 | 18 | 2.3% | $105 |
| 1947 | 22.3 | 14.4% | $130 |
| 1949 | 23.8 | -1.2% | $139 |
| 1951 | 26 | 7.9% | $152 |
| 1953 | 26.7 | 0.8% | $156 |
| 1955 | 26.8 | -0.4% | $157 |
| 1957 | 28.1 | 3.3% | $164 |
| 1959 | 29.1 | 0.7% | $170 |
| 1961 | 29.9 | 1.0% | $175 |
| 1963 | 30.6 | 1.3% | $179 |
| 1965 | 31.5 | 1.6% | $184 |
| 1967 | 33.4 | 3.1% | $195 |
| 1969 | 36.7 | 5.5% | $215 |
| 1971 | 40.5 | 4.4% | $237 |
| 1973 | 44.4 | 6.2% | $260 |
| 1975 | 53.8 | 9.1% | $315 |
| 1977 | 60.6 | 6.5% | $354 |
| 1979 | 72.6 | 11.3% | $425 |
| 1980 | 82.4 | 13.5% | $482 |
Long periods are sampled every 2 years; the calculator above covers any pair of years.
1980 sat at the very peak of the Great Inflation. Prices rose 13.5% in that single year, mortgage rates were climbing toward 16%, and the Federal Reserve under Paul Volcker was administering the painful interest-rate medicine that would finally break the inflationary spiral, at the cost of the deep 1981–82 recession. No single year looms larger in how Americans think about inflation.
MLA: “Inflation from 1923 to 1980: $100 is worth $482 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1923-to-1980/
APA: InflationCalculator.com. Inflation from 1923 to 1980. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1923-to-1980/
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.