U.S. inflation · 1928–2023
$100 in 1928 has the same buying power as
$1,782
in 2023
| Cumulative price change | 1681.9% |
|---|---|
| Average inflation rate | 3.08% per year |
| Converted amount ($100 base) | $1,782 |
| Price difference ($100 base) | $1,682 |
| CPI in 1928 | 17.1 |
| CPI in 2023 | 304.702 |
| Inflation in 1928 | -1.72% |
| Inflation in 2023 | 4.12% |
| $100 in 1928 → 2023 | $1,782 |
| $100 in 2023 → 1928 | $5.61 |
Between 1928 and 2023, the Consumer Price Index went from 17.1 to 304.702. Cumulatively, prices increased 1681.9%, which works out to an average of 3.08% per year. Put differently, a dollar in 1928 bought what $0.06 buys in 2023.
| Amount in 1928 | Value in 2023 |
|---|---|
| $1.00 | $17.82 |
| $5.00 | $89.09 |
| $10.00 | $178 |
| $20.00 | $356 |
| $50.00 | $891 |
| $100 | $1,782 |
| $500 | $8,909 |
| $1,000 | $17,819 |
| $5,000 | $89,094 |
| $10,000 | $178,188 |
| $100,000 | $1,781,883 |
| $1,000,000 | $17,818,830 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1928 spending costs in 2023, by category:
| Category | Avg. yearly inflation | $100 in 1928 → |
|---|---|---|
| All items (CPI-U) | 3.08% | $1,782 |
| Food | 3.19% | $1,981 |
| Apparel | 1.76% | $522 |
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 |
| 1933 | 13 | -5.1% | $76.02 |
| 1938 | 14.1 | -2.1% | $82.46 |
| 1943 | 17.3 | 6.1% | $101 |
| 1948 | 24.1 | 8.1% | $141 |
| 1953 | 26.7 | 0.8% | $156 |
| 1958 | 28.9 | 2.8% | $169 |
| 1963 | 30.6 | 1.3% | $179 |
| 1968 | 34.8 | 4.2% | $204 |
| 1973 | 44.4 | 6.2% | $260 |
| 1978 | 65.2 | 7.6% | $381 |
| 1983 | 99.6 | 3.2% | $582 |
| 1988 | 118.3 | 4.1% | $692 |
| 1993 | 144.5 | 3.0% | $845 |
| 1998 | 163 | 1.6% | $953 |
| 2003 | 184 | 2.3% | $1,076 |
| 2008 | 215.303 | 3.8% | $1,259 |
| 2013 | 232.957 | 1.5% | $1,362 |
| 2018 | 251.107 | 2.4% | $1,468 |
| 2023 | 304.702 | 4.1% | $1,782 |
Long periods are sampled every 5 years; the calculator above covers any pair of years.
MLA: “Inflation from 1928 to 2023: $100 is worth $1,782 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1928-to-2023/
APA: InflationCalculator.com. Inflation from 1928 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1928-to-2023/
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.