$100 in 1928 is worth $1,036 in 2001,
because prices increased 935.7% over that period, an average of
3.25% a year.
$100 in 1928 has
the same buying power as
$1,036
in 2001
Detailed inflation statistics
Cumulative price change
935.7%
Average inflation rate
3.25% per year
Converted amount ($100 base)
$1,036
Price difference ($100 base)
$936
CPI in 1928
17.1
CPI in 2001
177.1
Inflation in 1928
-1.72%
Inflation in 2001
2.85%
$100 in 1928 → 2001
$1,036
$100 in 2001 → 1928
$9.66
What happened to prices between 1928 and 2001
Between 1928 and 2001, the Consumer Price Index went from 17.1 to 177.1.
Cumulatively, prices increased 935.7%, which works out to an average of
3.25% per year. Put differently, a dollar in 1928 bought what
$0.10 buys in 2001: the 1928 dollar
lost 90.3% of its purchasing power over
these 73 years.
Consumer prices fell 1.7% in 1928, the second straight year of mild decline
even as the stock market climbed sharply, a widening gap between asset
prices and the cost of living that later economists pointed to as an early
warning sign. The Federal Reserve tightened policy repeatedly over the year,
raising its discount rate in an effort to slow the flood of borrowed money
pouring into stock purchases without derailing the broader economy, a
balancing act it ultimately failed to manage. Herbert Hoover won the
presidential election that November, defeating Democrat Al Smith on a
platform built around continuing the prosperity of the Coolidge years; few
voters or policymakers anticipated how quickly that prosperity would end.
First-class postage remained at 2 cents, a price that had now held for nine
straight years.
Every 1928 amount converts to 2001 at the same ratio, 10.36: $1,000 becomes
$10,357, and $10,000 becomes $103,567.
Amount in 1928
Value in 2001
$1.00
$10.36
$5.00
$51.78
$10.00
$104
$20.00
$207
$50.00
$518
$100
$1,036
$500
$5,178
$1,000
$10,357
$5,000
$51,784
$10,000
$103,567
$100,000
$1,035,673
$1,000,000
$10,356,725
Inflation by spending category, 1928–2001
Between 1928 and 2001, food rose the most, up 962.0%, while apparel rose the least, up 409.2%, against 935.7% for all items. The headline number is an average; here is what $100 of 1928
spending costs in 2001, by category:
Category
Avg. yearly inflation
$100 in 1928 →
All items (CPI-U)
3.25%
$1,036
Food
3.29%
$1,062
Apparel
2.25%
$509
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–).
Decade by decade: 1928 to 2001
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 1928–2001 change:
Years
Avg. yearly inflation
Price change
$100 from 1928, at end
1928–1930
-1.18%
-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
2000–2001
2.85%
2.8%
$1,036
Year by year: CPI and the value of $100 from 1928
$100 from 1928 had already become $179 by
1963, on its way to $1,036 in 2001; 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: 2001
In 2001, prices rose 2.8% and $100 from 1928 had the buying
power of $1,036; the year's average CPI of 177.1 is the level
behind every 2001 figure on this page.
Inflation fell to 2.8% in 2001 from 3.4% the year before, as a recession that began in March
cut demand and gasoline slid to an average of $1.46 a gallon. The median household earned about
$42,200, roughly flat from 2000, and a new home cost about $175,200. The Federal Reserve cut its
policy rate 11 times over the year, from 6.5% to 1.75%, the lowest since 1961. After the
September 11 attacks, U.S. stock markets closed for four trading days, and air travel dropped
sharply until the following year. Congress had already passed a $1.35 trillion tax cut in June,
which included rebate checks of up to $600. The National Bureau of Economic Research dates the
recession’s end at November, but unemployment kept rising into 2003. A first-class stamp went to
34 cents in January, and the federal minimum wage stayed at $5.15. The Fed’s cuts were the
first step in a long period of very cheap borrowing that would fuel the housing boom.
MLA: “Inflation from 1928 to 2001: $100 is worth $1,036 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1928-to-2001/
APA: InflationCalculator.com. Inflation from 1928 to 2001. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1928-to-2001/