U.S. inflation · 1931–1938
$100 in 1931 has the same buying power as
$92.76
in 1938
| Cumulative price change | -7.2% |
|---|---|
| Average inflation rate | -1.07% per year |
| Converted amount ($100 base) | $92.76 |
| Price difference ($100 base) | -$7.24 |
| CPI in 1931 | 15.2 |
| CPI in 1938 | 14.1 |
| Inflation in 1931 | -8.98% |
| Inflation in 1938 | -2.08% |
| $100 in 1931 → 1938 | $92.76 |
| $100 in 1938 → 1931 | $108 |
Between 1931 and 1938, the Consumer Price Index went from 15.2 to 14.1. Cumulatively, prices declined 7.2%, which works out to an average of -1.07% per year. Put differently, a dollar in 1931 bought what $1.08 buys in 1938.
| Amount in 1931 | Value in 1938 |
|---|---|
| $1.00 | $0.93 |
| $5.00 | $4.64 |
| $10.00 | $9.28 |
| $20.00 | $18.55 |
| $50.00 | $46.38 |
| $100 | $92.76 |
| $500 | $464 |
| $1,000 | $928 |
| $5,000 | $4,638 |
| $10,000 | $9,276 |
| $100,000 | $92,763 |
| $1,000,000 | $927,632 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1931 spending costs in 1938, by category:
| Category | Avg. yearly inflation | $100 in 1931 → |
|---|---|---|
| All items (CPI-U) | -1.07% | $92.76 |
| Apparel | -0.07% | $99.55 |
| Food | -0.91% | $93.80 |
Not shown because the BLS began these indexes after 1931: 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 1931 |
|---|---|---|---|
| 1931 | 15.2 | -9.0% | $100 |
| 1932 | 13.7 | -9.9% | $90.13 |
| 1933 | 13 | -5.1% | $85.53 |
| 1934 | 13.4 | 3.1% | $88.16 |
| 1935 | 13.7 | 2.2% | $90.13 |
| 1936 | 13.9 | 1.5% | $91.45 |
| 1937 | 14.4 | 3.6% | $94.74 |
| 1938 | 14.1 | -2.1% | $92.76 |
MLA: “Inflation from 1931 to 1938: $100 is worth $92.76 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1931-to-1938/
APA: InflationCalculator.com. Inflation from 1931 to 1938. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1931-to-1938/
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.