U.S. inflation · 1931–1948
$100 in 1931 has the same buying power as
$159
in 1948
| Cumulative price change | 58.6% |
|---|---|
| Average inflation rate | 2.75% per year |
| Converted amount ($100 base) | $159 |
| Price difference ($100 base) | $58.55 |
| CPI in 1931 | 15.2 |
| CPI in 1948 | 24.1 |
| Inflation in 1931 | -8.98% |
| Inflation in 1948 | 8.07% |
| $100 in 1931 → 1948 | $159 |
| $100 in 1948 → 1931 | $63.07 |
Between 1931 and 1948, the Consumer Price Index went from 15.2 to 24.1. Cumulatively, prices increased 58.6%, which works out to an average of 2.75% per year. Put differently, a dollar in 1931 bought what $0.63 buys in 1948.
| Amount in 1931 | Value in 1948 |
|---|---|
| $1.00 | $1.59 |
| $5.00 | $7.93 |
| $10.00 | $15.86 |
| $20.00 | $31.71 |
| $50.00 | $79.28 |
| $100 | $159 |
| $500 | $793 |
| $1,000 | $1,586 |
| $5,000 | $7,928 |
| $10,000 | $15,855 |
| $100,000 | $158,553 |
| $1,000,000 | $1,585,526 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1931 spending costs in 1948, by category:
| Category | Avg. yearly inflation | $100 in 1931 → |
|---|---|---|
| All items (CPI-U) | 2.75% | $159 |
| Food | 4.23% | $202 |
| Apparel | 3.95% | $193 |
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 |
| 1939 | 13.9 | -1.4% | $91.45 |
| 1940 | 14 | 0.7% | $92.11 |
| 1941 | 14.7 | 5.0% | $96.71 |
| 1942 | 16.3 | 10.9% | $107 |
| 1943 | 17.3 | 6.1% | $114 |
| 1944 | 17.6 | 1.7% | $116 |
| 1945 | 18 | 2.3% | $118 |
| 1946 | 19.5 | 8.3% | $128 |
| 1947 | 22.3 | 14.4% | $147 |
| 1948 | 24.1 | 8.1% | $159 |
MLA: “Inflation from 1931 to 1948: $100 is worth $159 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1931-to-1948/
APA: InflationCalculator.com. Inflation from 1931 to 1948. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1931-to-1948/
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.