U.S. inflation · 1938–1948
$100 in 1938 has the same buying power as
$171
in 1948
| Cumulative price change | 70.9% |
|---|---|
| Average inflation rate | 5.51% per year |
| Converted amount ($100 base) | $171 |
| Price difference ($100 base) | $70.92 |
| CPI in 1938 | 14.1 |
| CPI in 1948 | 24.1 |
| Inflation in 1938 | -2.08% |
| Inflation in 1948 | 8.07% |
| $100 in 1938 → 1948 | $171 |
| $100 in 1948 → 1938 | $58.51 |
Between 1938 and 1948, the Consumer Price Index went from 14.1 to 24.1. Cumulatively, prices increased 70.9%, which works out to an average of 5.51% per year. Put differently, a dollar in 1938 bought what $0.59 buys in 1948.
| Amount in 1938 | Value in 1948 |
|---|---|
| $1.00 | $1.71 |
| $5.00 | $8.55 |
| $10.00 | $17.09 |
| $20.00 | $34.18 |
| $50.00 | $85.46 |
| $100 | $171 |
| $500 | $855 |
| $1,000 | $1,709 |
| $5,000 | $8,546 |
| $10,000 | $17,092 |
| $100,000 | $170,922 |
| $1,000,000 | $1,709,220 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1938 spending costs in 1948, by category:
| Category | Avg. yearly inflation | $100 in 1938 → |
|---|---|---|
| All items (CPI-U) | 5.51% | $171 |
| Food | 7.99% | $216 |
| Apparel | 6.85% | $194 |
| Transportation | 3.50% | $141 |
| Medical care | 3.41% | $140 |
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 |
| 1946 | 19.5 | 8.3% | $138 |
| 1947 | 22.3 | 14.4% | $158 |
| 1948 | 24.1 | 8.1% | $171 |
MLA: “Inflation from 1938 to 1948: $100 is worth $171 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1938-to-1948/
APA: InflationCalculator.com. Inflation from 1938 to 1948. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1938-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.