U.S. inflation · 1924–1980
$100 in 1924 has the same buying power as
$482
in 1980
| Cumulative price change | 381.9% |
|---|---|
| Average inflation rate | 2.85% per year |
| Converted amount ($100 base) | $482 |
| Price difference ($100 base) | $382 |
| CPI in 1924 | 17.1 |
| CPI in 1980 | 82.4 |
| Inflation in 1924 | 0.00% |
| Inflation in 1980 | 13.50% |
| $100 in 1924 → 1980 | $482 |
| $100 in 1980 → 1924 | $20.75 |
Between 1924 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 2.85% per year. Put differently, a dollar in 1924 bought what $0.21 buys in 1980.
| Amount in 1924 | 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 1924 spending costs in 1980, by category:
| Category | Avg. yearly inflation | $100 in 1924 → |
|---|---|---|
| All items (CPI-U) | 2.85% | $482 |
| Food | 3.16% | $571 |
| Apparel | 2.20% | $339 |
Not shown because the BLS began these indexes after 1924: 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 1924 |
|---|---|---|---|
| 1924 | 17.1 | 0.0% | $100 |
| 1926 | 17.7 | 1.1% | $104 |
| 1928 | 17.1 | -1.7% | $100 |
| 1930 | 16.7 | -2.3% | $97.66 |
| 1932 | 13.7 | -9.9% | $80.12 |
| 1934 | 13.4 | 3.1% | $78.36 |
| 1936 | 13.9 | 1.5% | $81.29 |
| 1938 | 14.1 | -2.1% | $82.46 |
| 1940 | 14 | 0.7% | $81.87 |
| 1942 | 16.3 | 10.9% | $95.32 |
| 1944 | 17.6 | 1.7% | $103 |
| 1946 | 19.5 | 8.3% | $114 |
| 1948 | 24.1 | 8.1% | $141 |
| 1950 | 24.1 | 1.3% | $141 |
| 1952 | 26.5 | 1.9% | $155 |
| 1954 | 26.9 | 0.7% | $157 |
| 1956 | 27.2 | 1.5% | $159 |
| 1958 | 28.9 | 2.8% | $169 |
| 1960 | 29.6 | 1.7% | $173 |
| 1962 | 30.2 | 1.0% | $177 |
| 1964 | 31 | 1.3% | $181 |
| 1966 | 32.4 | 2.9% | $189 |
| 1968 | 34.8 | 4.2% | $204 |
| 1970 | 38.8 | 5.7% | $227 |
| 1972 | 41.8 | 3.2% | $244 |
| 1974 | 49.3 | 11.0% | $288 |
| 1976 | 56.9 | 5.8% | $333 |
| 1978 | 65.2 | 7.6% | $381 |
| 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 1924 to 1980: $100 is worth $482 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1924-to-1980/
APA: InflationCalculator.com. Inflation from 1924 to 1980. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1924-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.