$100 in 1934 is worth $2,341 in 2024,
because prices increased 2241.0% over that period, an average of
3.57% a year.
$100 in 1934 has
the same buying power as
$2,341
in 2024
Detailed inflation statistics
Cumulative price change
2241.0%
Average inflation rate
3.57% per year
Converted amount ($100 base)
$2,341
Price difference ($100 base)
$2,241
CPI in 1934
13.4
CPI in 2024
313.689
Inflation in 1934
3.08%
Inflation in 2024
2.95%
$100 in 1934 → 2024
$2,341
$100 in 2024 → 1934
$4.27
What happened to prices between 1934 and 2024
Between 1934 and 2024, the Consumer Price Index went from 13.4 to 313.689.
Cumulatively, prices increased 2241.0%, which works out to an average of
3.57% per year. Put differently, a dollar in 1934 bought what
$0.04 buys in 2024: the 1934 dollar
lost 95.7% of its purchasing power over
these 90 years.
Consumer prices rose 3.1% in 1934, the first annual increase since 1926;
every year from 1927 through 1933 had been flat or falling,
so the turn marked a real break after eight years without a single gain.
Currency policy did some of the work. The Gold Reserve Act, signed January
30, formally devalued the dollar by raising the official price of gold from
$20.67 to $35 an ounce, part of the administration’s deliberate effort to
reflate prices after four straight years of deflation. Financial regulation
tightened at the same time: the Securities Exchange Act of June 6 created
the Securities and Exchange Commission to police stock exchanges and enforce
disclosure rules, a direct response to the speculation blamed for the 1929
crash. The recovery was fragile and unevenly felt, especially on the Great
Plains, where drought had turned overplowed farmland to dust. Over May 9-11,
high winds lifted an estimated 350 million tons of topsoil into the air,
darkening skies as far away as Washington and New York and giving city
readers who had never seen a wheat field a first glimpse of the disaster
building in Kansas, Oklahoma, and Texas. Consumer prices stood 35.4% above
their 1913 level, still well below the 1929 peak but rising
for the first time since the Depression began. First-class postage held at
3 cents.
Every 1934 amount converts to 2024 at the same ratio, 23.41: $1,000 becomes
$23,410, and $10,000 becomes $234,096.
Amount in 1934
Value in 2024
$1.00
$23.41
$5.00
$117
$10.00
$234
$20.00
$468
$50.00
$1,170
$100
$2,341
$500
$11,705
$1,000
$23,410
$5,000
$117,048
$10,000
$234,096
$100,000
$2,340,963
$1,000,000
$23,409,627
Inflation by spending category, 1934–2024
Between 1934 and 2024, food rose the most, up 2747.1%, while apparel rose the least, up 538.3%, against 2241.0% for all items. The headline number is an average; here is what $100 of 1934
spending costs in 2024, by category:
Category
Avg. yearly inflation
$100 in 1934 →
All items (CPI-U)
3.57%
$2,341
Food
3.79%
$2,847
Apparel
2.08%
$638
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–).
Decade by decade: 1934 to 2024
Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 1930s (0.73% a year). Each step below chains into the full 1934–2024 change:
Years
Avg. yearly inflation
Price change
$100 from 1934, at end
1934–1940
0.73%
4.5%
$104
1940–1950
5.58%
72.1%
$180
1950–1960
2.08%
22.8%
$221
1960–1970
2.74%
31.1%
$290
1970–1980
7.82%
112.4%
$615
1980–1990
4.72%
58.6%
$975
1990–2000
2.80%
31.8%
$1,285
2000–2010
2.39%
26.6%
$1,627
2010–2020
1.73%
18.7%
$1,931
2020–2024
4.93%
21.2%
$2,341
Year by year: CPI and the value of $100 from 1934
$100 from 1934 had already become $542 by
1979, on its way to $2,341 in 2024; 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 2.1% in 1938, the deepest deflation of the period.
Long periods are sampled every 5 years; the calculator above covers any pair of years.
The destination year: 2024
In 2024, prices rose 2.9% and $100 from 1934 had the buying
power of $2,341; the year's average CPI of 313.689 is the level
behind every 2024 figure on this page.
2024 brought inflation close to normal without fully reaching it. Consumer
prices rose 2.9% on average, the smallest yearly increase since 2020, and the
December-to-December rate was also 2.9%. Gasoline averaged $3.30 a gallon,
below 2023’s $3.52. Shelter stayed the biggest driver of the index, so the
pace of price growth in categories that households can’t easily avoid, such as
rent and insurance, lagged the drop in goods and energy costs.
The Federal Reserve declared progress in September, cutting its policy rate
by half a point, the first reduction since the pandemic emergency, and then
by a quarter point in November and again in December. Mortgage rates near 7%
kept the housing market frozen for many would-be buyers.
Median household income was $83,730, the federal minimum wage stayed at $7.25,
and a first-class stamp rose to 73 cents in July. After the November election,
attention turned to how announced tariffs and tax policy might affect prices
in 2025.
MLA: “Inflation from 1934 to 2024: $100 is worth $2,341 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1934-to-2024/
APA: InflationCalculator.com. Inflation from 1934 to 2024. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1934-to-2024/