U.S. inflation · 1928–1932
$100 in 1928 has the same buying power as
$80.12
in 1932
| Cumulative price change | -19.9% |
|---|---|
| Average inflation rate | -5.39% per year |
| Converted amount ($100 base) | $80.12 |
| Price difference ($100 base) | -$19.88 |
| CPI in 1928 | 17.1 |
| CPI in 1932 | 13.7 |
| Inflation in 1928 | -1.72% |
| Inflation in 1932 | -9.87% |
| $100 in 1928 → 1932 | $80.12 |
| $100 in 1932 → 1928 | $125 |
Between 1928 and 1932, the Consumer Price Index went from 17.1 to 13.7. Cumulatively, prices declined 19.9%, which works out to an average of -5.39% per year. Put differently, a dollar in 1928 bought what $1.25 buys in 1932.
| Amount in 1928 | Value in 1932 |
|---|---|
| $1.00 | $0.80 |
| $5.00 | $4.01 |
| $10.00 | $8.01 |
| $20.00 | $16.02 |
| $50.00 | $40.06 |
| $100 | $80.12 |
| $500 | $401 |
| $1,000 | $801 |
| $5,000 | $4,006 |
| $10,000 | $8,012 |
| $100,000 | $80,117 |
| $1,000,000 | $801,170 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1928 spending costs in 1932, by category:
| Category | Avg. yearly inflation | $100 in 1928 → |
|---|---|---|
| All items (CPI-U) | -5.39% | $80.12 |
| Apparel | -6.02% | $78.00 |
| Food | -9.99% | $65.64 |
Not shown because the BLS began these indexes after 1928: 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 1928 |
|---|---|---|---|
| 1928 | 17.1 | -1.7% | $100 |
| 1929 | 17.1 | 0.0% | $100 |
| 1930 | 16.7 | -2.3% | $97.66 |
| 1931 | 15.2 | -9.0% | $88.89 |
| 1932 | 13.7 | -9.9% | $80.12 |
MLA: “Inflation from 1928 to 1932: $100 is worth $80.12 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1928-to-1932/
APA: InflationCalculator.com. Inflation from 1928 to 1932. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1928-to-1932/
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.