U.S. inflation · 1924–2003
$100 in 1924 has the same buying power as
$1,076
in 2003
| Cumulative price change | 976.0% |
|---|---|
| Average inflation rate | 3.05% per year |
| Converted amount ($100 base) | $1,076 |
| Price difference ($100 base) | $976 |
| CPI in 1924 | 17.1 |
| CPI in 2003 | 184 |
| Inflation in 1924 | 0.00% |
| Inflation in 2003 | 2.28% |
| $100 in 1924 → 2003 | $1,076 |
| $100 in 2003 → 1924 | $9.29 |
Between 1924 and 2003, the Consumer Price Index went from 17.1 to 184. Cumulatively, prices increased 976.0%, which works out to an average of 3.05% per year. Put differently, a dollar in 1924 bought what $0.09 buys in 2003.
| Amount in 1924 | Value in 2003 |
|---|---|
| $1.00 | $10.76 |
| $5.00 | $53.80 |
| $10.00 | $108 |
| $20.00 | $215 |
| $50.00 | $538 |
| $100 | $1,076 |
| $500 | $5,380 |
| $1,000 | $10,760 |
| $5,000 | $53,801 |
| $10,000 | $107,602 |
| $100,000 | $1,076,023 |
| $1,000,000 | $10,760,234 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1924 spending costs in 2003, by category:
| Category | Avg. yearly inflation | $100 in 1924 → |
|---|---|---|
| All items (CPI-U) | 3.05% | $1,076 |
| Food | 3.18% | $1,184 |
| Apparel | 1.93% | $451 |
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 |
| 1929 | 17.1 | 0.0% | $100 |
| 1934 | 13.4 | 3.1% | $78.36 |
| 1939 | 13.9 | -1.4% | $81.29 |
| 1944 | 17.6 | 1.7% | $103 |
| 1949 | 23.8 | -1.2% | $139 |
| 1954 | 26.9 | 0.7% | $157 |
| 1959 | 29.1 | 0.7% | $170 |
| 1964 | 31 | 1.3% | $181 |
| 1969 | 36.7 | 5.5% | $215 |
| 1974 | 49.3 | 11.0% | $288 |
| 1979 | 72.6 | 11.3% | $425 |
| 1984 | 103.9 | 4.3% | $608 |
| 1989 | 124 | 4.8% | $725 |
| 1994 | 148.2 | 2.6% | $867 |
| 1999 | 166.6 | 2.2% | $974 |
| 2003 | 184 | 2.3% | $1,076 |
Long periods are sampled every 5 years; the calculator above covers any pair of years.
MLA: “Inflation from 1924 to 2003: $100 is worth $1,076 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1924-to-2003/
APA: InflationCalculator.com. Inflation from 1924 to 2003. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1924-to-2003/
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.