U.S. inflation · 1938–1973
$100 in 1938 has the same buying power as
$315
in 1973
| Cumulative price change | 214.9% |
|---|---|
| Average inflation rate | 3.33% per year |
| Converted amount ($100 base) | $315 |
| Price difference ($100 base) | $215 |
| CPI in 1938 | 14.1 |
| CPI in 1973 | 44.4 |
| Inflation in 1938 | -2.08% |
| Inflation in 1973 | 6.22% |
| $100 in 1938 → 1973 | $315 |
| $100 in 1973 → 1938 | $31.76 |
Between 1938 and 1973, the Consumer Price Index went from 14.1 to 44.4. Cumulatively, prices increased 214.9%, which works out to an average of 3.33% per year. Put differently, a dollar in 1938 bought what $0.32 buys in 1973.
| Amount in 1938 | Value in 1973 |
|---|---|
| $1.00 | $3.15 |
| $5.00 | $15.74 |
| $10.00 | $31.49 |
| $20.00 | $62.98 |
| $50.00 | $157 |
| $100 | $315 |
| $500 | $1,574 |
| $1,000 | $3,149 |
| $5,000 | $15,745 |
| $10,000 | $31,489 |
| $100,000 | $314,894 |
| $1,000,000 | $3,148,936 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1938 spending costs in 1973, by category:
| Category | Avg. yearly inflation | $100 in 1938 → |
|---|---|---|
| All items (CPI-U) | 3.33% | $315 |
| Food | 4.03% | $398 |
| Medical care | 3.86% | $377 |
| Apparel | 3.14% | $295 |
| Transportation | 3.01% | $282 |
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 |
| 1940 | 14 | 0.7% | $99.29 |
| 1942 | 16.3 | 10.9% | $116 |
| 1944 | 17.6 | 1.7% | $125 |
| 1946 | 19.5 | 8.3% | $138 |
| 1948 | 24.1 | 8.1% | $171 |
| 1950 | 24.1 | 1.3% | $171 |
| 1952 | 26.5 | 1.9% | $188 |
| 1954 | 26.9 | 0.7% | $191 |
| 1956 | 27.2 | 1.5% | $193 |
| 1958 | 28.9 | 2.8% | $205 |
| 1960 | 29.6 | 1.7% | $210 |
| 1962 | 30.2 | 1.0% | $214 |
| 1964 | 31 | 1.3% | $220 |
| 1966 | 32.4 | 2.9% | $230 |
| 1968 | 34.8 | 4.2% | $247 |
| 1970 | 38.8 | 5.7% | $275 |
| 1972 | 41.8 | 3.2% | $296 |
| 1973 | 44.4 | 6.2% | $315 |
Long periods are sampled every 2 years; the calculator above covers any pair of years.
MLA: “Inflation from 1938 to 1973: $100 is worth $315 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1938-to-1973/
APA: InflationCalculator.com. Inflation from 1938 to 1973. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1938-to-1973/
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.