$100 in 1924 is worth $1,213 in 2007,
because prices increased 1112.5% over that period, an average of
3.05% a year.
$100 in 1924 has
the same buying power as
$1,213
in 2007
Detailed inflation statistics
Cumulative price change
1112.5%
Average inflation rate
3.05% per year
Converted amount ($100 base)
$1,213
Price difference ($100 base)
$1,113
CPI in 1924
17.1
CPI in 2007
207.342
Inflation in 1924
0.00%
Inflation in 2007
2.85%
$100 in 1924 → 2007
$1,213
$100 in 2007 → 1924
$8.25
What happened to prices between 1924 and 2007
Between 1924 and 2007, the Consumer Price Index went from 17.1 to 207.342.
Cumulatively, prices increased 1112.5%, which works out to an average of
3.05% per year. Put differently, a dollar in 1924 bought what
$0.08 buys in 2007: the 1924 dollar
lost 91.8% of its purchasing power over
these 83 years.
Consumer prices held flat in 1924, the CPI’s annual average unchanged from
1923 after swinging from a sharp postwar drop to a modest rise the year
before. That stability, extending the calm that had settled in after the
deflation of 1921 and 1922, became a defining feature of the rest of the
decade. Congress tightened immigration policy further with the Immigration
Act of 1924, signed May 26, which cut the national-origins quota from 3% of
each nationality’s 1910 census population to 2% of its 1890 population,
shifting admissions further toward northern and western Europe and
effectively excluding most immigration from Asia. Abroad, the U.S.-backed
Dawes Plan, adopted that August, reorganized Germany’s war reparations
payments and opened the way for American loans into the German economy,
helping stabilize European currencies after the hyperinflation that had
peaked in 1923. At home, Calvin Coolidge, who had served out
the remainder of Warren Harding’s term after his death the previous year,
won a full term of his own that November, campaigning on continued
prosperity and limited government. First-class postage remained at 2 cents,
a price unchanged since mid-1919.
Every 1924 amount converts to 2007 at the same ratio, 12.13: $1,000 becomes
$12,125, and $10,000 becomes $121,253.
Amount in 1924
Value in 2007
$1.00
$12.13
$5.00
$60.63
$10.00
$121
$20.00
$243
$50.00
$606
$100
$1,213
$500
$6,063
$1,000
$12,125
$5,000
$60,626
$10,000
$121,253
$100,000
$1,212,526
$1,000,000
$12,125,263
Inflation by spending category, 1924–2007
Between 1924 and 2007, food rose the most, up 1235.0%, while apparel rose the least, up 344.0%, against 1112.5% for all items. The headline number is an average; here is what $100 of 1924
spending costs in 2007, by category:
Category
Avg. yearly inflation
$100 in 1924 →
All items (CPI-U)
3.05%
$1,213
Food
3.17%
$1,335
Apparel
1.81%
$444
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–).
Decade by decade: 1924 to 2007
Prices climbed fastest in the 1970s, averaging 7.82% a year, and fell in the 1930s (1.7% a year). Each step below chains into the full 1924–2007 change:
Years
Avg. yearly inflation
Price change
$100 from 1924, at end
1924–1930
-0.39%
-2.3%
$97.66
1930–1940
-1.75%
-16.2%
$81.87
1940–1950
5.58%
72.1%
$141
1950–1960
2.08%
22.8%
$173
1960–1970
2.74%
31.1%
$227
1970–1980
7.82%
112.4%
$482
1980–1990
4.72%
58.6%
$764
1990–2000
2.80%
31.8%
$1,007
2000–2007
2.69%
20.4%
$1,213
Year by year: CPI and the value of $100 from 1924
$100 from 1924 had already become $181 by
1964, on its way to $1,213 in 2007; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 14.4% in 1947, and prices fell 9.9% in 1932, the deepest deflation of the period.
Long periods are sampled every 5 years; the calculator above covers any pair of years.
The destination year: 2007
In 2007, prices rose 2.8% and $100 from 1924 had the buying
power of $1,213; the year's average CPI of 207.342 is the level
behind every 2007 figure on this page.
Inflation was 2.8% in 2007, with gasoline averaging $2.80 a gallon, but the year is better
known for what began underneath prices. In August, French bank BNP Paribas froze funds tied to
U.S. subprime mortgages, and credit between banks tightened. The Federal Reserve responded with
a half-point cut on September 18, its first in four years, and took the policy rate from 5.25% to
4.25% by December. The economy peaked that month, by the National Bureau of Economic Research’s
dating, and the Great Recession followed. The median household earned about $50,200, and the
median new home cost $247,900. Congress ended the decade-long freeze on the federal minimum wage
in May, with the first of three steps to $5.85 in July. A first-class stamp cost 41 cents.
MLA: “Inflation from 1924 to 2007: $100 is worth $1,213 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1924-to-2007/
APA: InflationCalculator.com. Inflation from 1924 to 2007. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1924-to-2007/