U.S. inflation · 1938–1945
$100 in 1938 has the same buying power as
$128
in 1945
| Cumulative price change | 27.7% |
|---|---|
| Average inflation rate | 3.55% per year |
| Converted amount ($100 base) | $128 |
| Price difference ($100 base) | $27.66 |
| CPI in 1938 | 14.1 |
| CPI in 1945 | 18 |
| Inflation in 1938 | -2.08% |
| Inflation in 1945 | 2.27% |
| $100 in 1938 → 1945 | $128 |
| $100 in 1945 → 1938 | $78.33 |
Between 1938 and 1945, the Consumer Price Index went from 14.1 to 18. Cumulatively, prices increased 27.7%, which works out to an average of 3.55% per year. Put differently, a dollar in 1938 bought what $0.78 buys in 1945.
| Amount in 1938 | Value in 1945 |
|---|---|
| $1.00 | $1.28 |
| $5.00 | $6.38 |
| $10.00 | $12.77 |
| $20.00 | $25.53 |
| $50.00 | $63.83 |
| $100 | $128 |
| $500 | $638 |
| $1,000 | $1,277 |
| $5,000 | $6,383 |
| $10,000 | $12,766 |
| $100,000 | $127,660 |
| $1,000,000 | $1,276,596 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1938 spending costs in 1945, by category:
| Category | Avg. yearly inflation | $100 in 1938 → |
|---|---|---|
| All items (CPI-U) | 3.55% | $128 |
| Apparel | 5.28% | $143 |
| Food | 5.24% | $143 |
| Medical care | 2.08% | $116 |
| Transportation | 1.23% | $109 |
Not shown because the BLS began these indexes after 1938: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
| Year | CPI | Inflation rate | $100 from 1938 |
|---|---|---|---|
| 1938 | 14.1 | -2.1% | $100 |
| 1939 | 13.9 | -1.4% | $98.58 |
| 1940 | 14 | 0.7% | $99.29 |
| 1941 | 14.7 | 5.0% | $104 |
| 1942 | 16.3 | 10.9% | $116 |
| 1943 | 17.3 | 6.1% | $123 |
| 1944 | 17.6 | 1.7% | $125 |
| 1945 | 18 | 2.3% | $128 |
MLA: “Inflation from 1938 to 1945: $100 is worth $128 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1938-to-1945/
APA: InflationCalculator.com. Inflation from 1938 to 1945. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1938-to-1945/
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.