U.S. inflation · 1928–1941
$100 in 1928 has the same buying power as
$85.96
in 1941
| Cumulative price change | -14.0% |
|---|---|
| Average inflation rate | -1.16% per year |
| Converted amount ($100 base) | $85.96 |
| Price difference ($100 base) | -$14.04 |
| CPI in 1928 | 17.1 |
| CPI in 1941 | 14.7 |
| Inflation in 1928 | -1.72% |
| Inflation in 1941 | 5.00% |
| $100 in 1928 → 1941 | $85.96 |
| $100 in 1941 → 1928 | $116 |
Between 1928 and 1941, the Consumer Price Index went from 17.1 to 14.7. Cumulatively, prices declined 14.0%, which works out to an average of -1.16% per year. Put differently, a dollar in 1928 bought what $1.16 buys in 1941.
| Amount in 1928 | Value in 1941 |
|---|---|
| $1.00 | $0.86 |
| $5.00 | $4.30 |
| $10.00 | $8.60 |
| $20.00 | $17.19 |
| $50.00 | $42.98 |
| $100 | $85.96 |
| $500 | $430 |
| $1,000 | $860 |
| $5,000 | $4,298 |
| $10,000 | $8,596 |
| $100,000 | $85,965 |
| $1,000,000 | $859,649 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1928 spending costs in 1941, by category:
| Category | Avg. yearly inflation | $100 in 1928 → |
|---|---|---|
| All items (CPI-U) | -1.16% | $85.96 |
| Apparel | -0.71% | $91.20 |
| Food | -1.67% | $80.37 |
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 |
| 1933 | 13 | -5.1% | $76.02 |
| 1934 | 13.4 | 3.1% | $78.36 |
| 1935 | 13.7 | 2.2% | $80.12 |
| 1936 | 13.9 | 1.5% | $81.29 |
| 1937 | 14.4 | 3.6% | $84.21 |
| 1938 | 14.1 | -2.1% | $82.46 |
| 1939 | 13.9 | -1.4% | $81.29 |
| 1940 | 14 | 0.7% | $81.87 |
| 1941 | 14.7 | 5.0% | $85.96 |
MLA: “Inflation from 1928 to 1941: $100 is worth $85.96 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1928-to-1941/
APA: InflationCalculator.com. Inflation from 1928 to 1941. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1928-to-1941/
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.