U.S. inflation · 1930–1988

Value of $100 in 1930, adjusted to 1988

$100 in 1930 is worth $708 in 1988, because prices increased 608.4% over that period, an average of 3.43% a year.

$100 in 1930 has the same buying power as

$708

in 1988

$78$393$70819301945195919741988$100 · 1930$708 · 1988
Detailed inflation statistics
Cumulative price change608.4%
Average inflation rate3.43% per year
Converted amount ($100 base)$708
Price difference ($100 base)$608
CPI in 193016.7
CPI in 1988118.3
Inflation in 1930-2.34%
Inflation in 19884.14%
$100 in 1930 → 1988$708
$100 in 1988 → 1930$14.12

What happened to prices between 1930 and 1988

Between 1930 and 1988, the Consumer Price Index went from 16.7 to 118.3. Cumulatively, prices increased 608.4%, which works out to an average of 3.43% per year. Put differently, a dollar in 1930 bought what $0.14 buys in 1988: the 1930 dollar lost 85.9% of its purchasing power over these 58 years.

Consumer prices fell 2.3% in 1930, a mild decline compared with what was coming but the first sign that the summer 1929 downturn was not going to be short. The National Bureau of Economic Research dates that contraction from August 1929, and by the time it finally bottomed out in March 1933 it would run 43 months, the longest of any downturn in the NBER’s chronology back to 1854. Congress made the trade picture worse in June, when President Hoover signed the Smoot-Hawley Tariff Act, raising duties on more than 20,000 imported goods to some of the highest levels in a century. Trading partners retaliated with tariffs of their own, and global trade volumes collapsed over the next several years, deepening a downturn economists still debate how much the tariff itself worsened. The financial system cracked that fall: a regional banking panic culminated in the December 11 failure of the Bank of United States in New York, at the time the largest bank failure in American history, wiping out more than $200 million in deposits. It was the first of four banking panics that would hit the country before 1933 was out. Consumer prices still stood 68.7% above their 1913 starting point, but the direction had clearly turned. First-class postage held at 2 cents, unchanged for eleven straight years.

More about inflation in 1930 →

Common amounts: 1930 dollars in 1988

Every 1930 amount converts to 1988 at the same ratio, 7.08: $1,000 becomes $7,084, and $10,000 becomes $70,838.

Amount in 1930Value in 1988
$1.00$7.08
$5.00$35.42
$10.00$70.84
$20.00$142
$50.00$354
$100$708
$500$3,542
$1,000$7,084
$5,000$35,419
$10,000$70,838
$100,000$708,383
$1,000,000$7,083,832

Inflation by spending category, 1930–1988

Between 1930 and 1988, food rose the most, up 657.7%, while apparel rose the least, up 376.9%, against 608.4% for all items. The headline number is an average; here is what $100 of 1930 spending costs in 1988, by category:

Category Avg. yearly inflation $100 in 1930 →
All items (CPI-U) 3.43% $708
Food 3.55% $758
Apparel 2.73% $477

Not shown because the BLS began these indexes after 1930: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), medical care (1935–), transportation (1935–), recreation (1993–), education & communication (1993–).

Decade by decade: 1930 to 1988

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 1930–1988 change:

Years Avg. yearly inflation Price change $100 from 1930, at end
1930–1940 -1.75% -16.2% $83.83
1940–1950 5.58% 72.1% $144
1950–1960 2.08% 22.8% $177
1960–1970 2.74% 31.1% $232
1970–1980 7.82% 112.4% $493
1980–1988 4.62% 43.6% $708

Year by year: CPI and the value of $100 from 1930

$100 from 1930 had already become $173 by 1958, on its way to $708 in 1988; 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.

Year CPI Inflation rate $100 from 1930
1930 16.7 -2.3% $100
1932 13.7 -9.9% $82.04
1934 13.4 3.1% $80.24
1936 13.9 1.5% $83.23
1938 14.1 -2.1% $84.43
1940 14 0.7% $83.83
1942 16.3 10.9% $97.60
1944 17.6 1.7% $105
1946 19.5 8.3% $117
1948 24.1 8.1% $144
1950 24.1 1.3% $144
1952 26.5 1.9% $159
1954 26.9 0.7% $161
1956 27.2 1.5% $163
1958 28.9 2.8% $173
1960 29.6 1.7% $177
1962 30.2 1.0% $181
1964 31 1.3% $186
1966 32.4 2.9% $194
1968 34.8 4.2% $208
1970 38.8 5.7% $232
1972 41.8 3.2% $250
1974 49.3 11.0% $295
1976 56.9 5.8% $341
1978 65.2 7.6% $390
1980 82.4 13.5% $493
1982 96.5 6.2% $578
1984 103.9 4.3% $622
1986 109.6 1.9% $656
1988 118.3 4.1% $708

Long periods are sampled every 2 years; the calculator above covers any pair of years.

The destination year: 1988

In 1988, prices rose 4.1% and $100 from 1930 had the buying power of $708; the year's average CPI of 118.3 is the level behind every 1988 figure on this page.

By 1988, the economic expansion that began in the ashes of the 1981-82 recession was in its sixth year, and the Federal Reserve was watching for signs it had run too long. Inflation rose to 4.1%, up from 3.6% the year before, while unemployment fell to its lowest level since 1974. Alan Greenspan’s Fed responded by raising the federal funds rate through the year, from about 6.5% to 8.5%, trying to cool demand before prices accelerated the way they had in the 1970s. Households still felt the difference between this expansion and the last one: gas held near 90 cents a gallon, almost exactly its 1987 price, and median household income rose to roughly $27,200. The one price that moved was postage, which rose from 22 to 25 cents in April, the fourth increase of the decade but a far gentler pace than the string of increases in the late 1970s and early 1980s. In November, Vice President George H.W. Bush won the presidency on the strength of the expansion, promising in his nomination speech to hold the line on taxes. Both the boom and that pledge would run into trouble within two years, as the Fed’s rate increases helped tip the economy toward the 1990-91 recession.

More about inflation in 1988 →

Cite this page

MLA: “Inflation from 1930 to 1988: $100 is worth $708 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1930-to-1988/

APA: InflationCalculator.com. Inflation from 1930 to 1988. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1930-to-1988/

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.