U.S. inflation · 1934–2023
$100 in 1934 has the same buying power as
$2,274
in 2023
| Cumulative price change | 2173.9% |
|---|---|
| Average inflation rate | 3.57% per year |
| Converted amount ($100 base) | $2,274 |
| Price difference ($100 base) | $2,174 |
| CPI in 1934 | 13.4 |
| CPI in 2023 | 304.702 |
| Inflation in 1934 | 3.08% |
| Inflation in 2023 | 4.12% |
| $100 in 1934 → 2023 | $2,274 |
| $100 in 2023 → 1934 | $4.40 |
Between 1934 and 2023, the Consumer Price Index went from 13.4 to 304.702. Cumulatively, prices increased 2173.9%, which works out to an average of 3.57% per year. Put differently, a dollar in 1934 bought what $0.04 buys in 2023.
| Amount in 1934 | Value in 2023 |
|---|---|
| $1.00 | $22.74 |
| $5.00 | $114 |
| $10.00 | $227 |
| $20.00 | $455 |
| $50.00 | $1,137 |
| $100 | $2,274 |
| $500 | $11,369 |
| $1,000 | $22,739 |
| $5,000 | $113,695 |
| $10,000 | $227,390 |
| $100,000 | $2,273,896 |
| $1,000,000 | $22,738,955 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1934 spending costs in 2023, by category:
| Category | Avg. yearly inflation | $100 in 1934 → |
|---|---|---|
| All items (CPI-U) | 3.57% | $2,274 |
| Food | 3.81% | $2,784 |
| Apparel | 2.10% | $634 |
Not shown because the BLS began these indexes after 1934: 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 1934 |
|---|---|---|---|
| 1934 | 13.4 | 3.1% | $100 |
| 1939 | 13.9 | -1.4% | $104 |
| 1944 | 17.6 | 1.7% | $131 |
| 1949 | 23.8 | -1.2% | $178 |
| 1954 | 26.9 | 0.7% | $201 |
| 1959 | 29.1 | 0.7% | $217 |
| 1964 | 31 | 1.3% | $231 |
| 1969 | 36.7 | 5.5% | $274 |
| 1974 | 49.3 | 11.0% | $368 |
| 1979 | 72.6 | 11.3% | $542 |
| 1984 | 103.9 | 4.3% | $775 |
| 1989 | 124 | 4.8% | $925 |
| 1994 | 148.2 | 2.6% | $1,106 |
| 1999 | 166.6 | 2.2% | $1,243 |
| 2004 | 188.9 | 2.7% | $1,410 |
| 2009 | 214.537 | -0.4% | $1,601 |
| 2014 | 236.736 | 1.6% | $1,767 |
| 2019 | 255.657 | 1.8% | $1,908 |
| 2023 | 304.702 | 4.1% | $2,274 |
Long periods are sampled every 5 years; the calculator above covers any pair of years.
MLA: “Inflation from 1934 to 2023: $100 is worth $2,274 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1934-to-2023/
APA: InflationCalculator.com. Inflation from 1934 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1934-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.