U.S. inflation · 1937–1948
$100 in 1937 has the same buying power as
$167
in 1948
| Cumulative price change | 67.4% |
|---|---|
| Average inflation rate | 4.79% per year |
| Converted amount ($100 base) | $167 |
| Price difference ($100 base) | $67.36 |
| CPI in 1937 | 14.4 |
| CPI in 1948 | 24.1 |
| Inflation in 1937 | 3.60% |
| Inflation in 1948 | 8.07% |
| $100 in 1937 → 1948 | $167 |
| $100 in 1948 → 1937 | $59.75 |
Between 1937 and 1948, the Consumer Price Index went from 14.4 to 24.1. Cumulatively, prices increased 67.4%, which works out to an average of 4.79% per year. Put differently, a dollar in 1937 bought what $0.60 buys in 1948.
| Amount in 1937 | Value in 1948 |
|---|---|
| $1.00 | $1.67 |
| $5.00 | $8.37 |
| $10.00 | $16.74 |
| $20.00 | $33.47 |
| $50.00 | $83.68 |
| $100 | $167 |
| $500 | $837 |
| $1,000 | $1,674 |
| $5,000 | $8,368 |
| $10,000 | $16,736 |
| $100,000 | $167,361 |
| $1,000,000 | $1,673,611 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1937 spending costs in 1948, by category:
| Category | Avg. yearly inflation | $100 in 1937 → |
|---|---|---|
| All items (CPI-U) | 4.79% | $167 |
| Food | 6.47% | $199 |
| Apparel | 6.17% | $193 |
| Transportation | 3.24% | $142 |
| Medical care | 3.09% | $140 |
Not shown because the BLS began these indexes after 1937: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
| Year | CPI | Inflation rate | $100 from 1937 |
|---|---|---|---|
| 1937 | 14.4 | 3.6% | $100 |
| 1938 | 14.1 | -2.1% | $97.92 |
| 1939 | 13.9 | -1.4% | $96.53 |
| 1940 | 14 | 0.7% | $97.22 |
| 1941 | 14.7 | 5.0% | $102 |
| 1942 | 16.3 | 10.9% | $113 |
| 1943 | 17.3 | 6.1% | $120 |
| 1944 | 17.6 | 1.7% | $122 |
| 1945 | 18 | 2.3% | $125 |
| 1946 | 19.5 | 8.3% | $135 |
| 1947 | 22.3 | 14.4% | $155 |
| 1948 | 24.1 | 8.1% | $167 |
MLA: “Inflation from 1937 to 1948: $100 is worth $167 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1937-to-1948/
APA: InflationCalculator.com. Inflation from 1937 to 1948. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1937-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.