U.S. inflation · 1938–1978
$100 in 1938 has the same buying power as
$462
in 1978
| Cumulative price change | 362.4% |
|---|---|
| Average inflation rate | 3.90% per year |
| Converted amount ($100 base) | $462 |
| Price difference ($100 base) | $362 |
| CPI in 1938 | 14.1 |
| CPI in 1978 | 65.2 |
| Inflation in 1938 | -2.08% |
| Inflation in 1978 | 7.59% |
| $100 in 1938 → 1978 | $462 |
| $100 in 1978 → 1938 | $21.63 |
Between 1938 and 1978, the Consumer Price Index went from 14.1 to 65.2. Cumulatively, prices increased 362.4%, which works out to an average of 3.90% per year. Put differently, a dollar in 1938 bought what $0.22 buys in 1978.
| Amount in 1938 | Value in 1978 |
|---|---|
| $1.00 | $4.62 |
| $5.00 | $23.12 |
| $10.00 | $46.24 |
| $20.00 | $92.48 |
| $50.00 | $231 |
| $100 | $462 |
| $500 | $2,312 |
| $1,000 | $4,624 |
| $5,000 | $23,121 |
| $10,000 | $46,241 |
| $100,000 | $462,411 |
| $1,000,000 | $4,624,113 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1938 spending costs in 1978, by category:
| Category | Avg. yearly inflation | $100 in 1938 → |
|---|---|---|
| All items (CPI-U) | 3.90% | $462 |
| Medical care | 4.58% | $600 |
| Food | 4.56% | $595 |
| Transportation | 3.67% | $423 |
| Apparel | 3.34% | $372 |
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 |
| 1974 | 49.3 | 11.0% | $350 |
| 1976 | 56.9 | 5.8% | $404 |
| 1978 | 65.2 | 7.6% | $462 |
Long periods are sampled every 2 years; the calculator above covers any pair of years.
MLA: “Inflation from 1938 to 1978: $100 is worth $462 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1938-to-1978/
APA: InflationCalculator.com. Inflation from 1938 to 1978. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1938-to-1978/
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.