$100 in 1928 is worth $1,362 in 2013,
because prices increased 1262.3% over that period, an average of
3.12% a year.
$100 in 1928 has
the same buying power as
$1,362
in 2013
Detailed inflation statistics
Cumulative price change
1262.3%
Average inflation rate
3.12% per year
Converted amount ($100 base)
$1,362
Price difference ($100 base)
$1,262
CPI in 1928
17.1
CPI in 2013
232.957
Inflation in 1928
-1.72%
Inflation in 2013
1.46%
$100 in 1928 → 2013
$1,362
$100 in 2013 → 1928
$7.34
What happened to prices between 1928 and 2013
Between 1928 and 2013, the Consumer Price Index went from 17.1 to 232.957.
Cumulatively, prices increased 1262.3%, which works out to an average of
3.12% per year. Put differently, a dollar in 1928 bought what
$0.07 buys in 2013: the 1928 dollar
lost 92.7% of its purchasing power over
these 85 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 2013 at the same ratio, 13.62: $1,000 becomes
$13,623, and $10,000 becomes $136,232.
Amount in 1928
Value in 2013
$1.00
$13.62
$5.00
$68.12
$10.00
$136
$20.00
$272
$50.00
$681
$100
$1,362
$500
$6,812
$1,000
$13,623
$5,000
$68,116
$10,000
$136,232
$100,000
$1,362,322
$1,000,000
$13,623,216
Inflation by spending category, 1928–2013
Between 1928 and 2013, food rose the most, up 1354.2%, while apparel rose the least, up 409.6%, against 1262.3% for all items. The headline number is an average; here is what $100 of 1928
spending costs in 2013, by category:
Category
Avg. yearly inflation
$100 in 1928 →
All items (CPI-U)
3.12%
$1,362
Food
3.20%
$1,454
Apparel
1.93%
$510
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 2013
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 1928–2013 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
2000–2010
2.39%
26.6%
$1,275
2010–2013
2.23%
6.8%
$1,362
Year by year: CPI and the value of $100 from 1928
$100 from 1928 had already become $204 by
1968, on its way to $1,362 in 2013; 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: 2013
In 2013, prices rose 1.5% and $100 from 1928 had the buying
power of $1,362; the year's average CPI of 232.957 is the level
behind every 2013 figure on this page.
2013 was a low-inflation year with a lot of noise around the Federal Reserve.
Consumer prices rose 1.5%, below the Fed’s 2% target, and gasoline eased to an
average of $3.51 a gallon. Housing was the exception: the median new home sold
for about $268,900, up sharply from $245,200 in 2012, as the market recovered
from its post-crisis bottom.
The Fed dominated the news. Chairman Ben Bernanke’s May comments about slowing
bond purchases pushed long-term interest rates up by roughly a percentage
point that summer, and mortgages became more expensive within weeks. In
December the Fed finally announced a first small cut to its purchases while
promising to keep short-term rates near zero for a long time.
Washington added its own disruption. A 16-day government shutdown in October
delayed data releases and left a hole in that month’s CPI collection. Median
household income was reported at $53,585, the federal minimum wage stayed at
$7.25, and a first-class stamp cost 46 cents. The decade’s pattern was taking
shape: slow price growth, ultra-low interest rates, and a labor market that
improved gradually.
MLA: “Inflation from 1928 to 2013: $100 is worth $1,362 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1928-to-2013/
APA: InflationCalculator.com. Inflation from 1928 to 2013. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1928-to-2013/