U.S. inflation · 1938–2004
$100 in 1938 has the same buying power as
$1,340
in 2004
| Cumulative price change | 1239.7% |
|---|---|
| Average inflation rate | 4.01% per year |
| Converted amount ($100 base) | $1,340 |
| Price difference ($100 base) | $1,240 |
| CPI in 1938 | 14.1 |
| CPI in 2004 | 188.9 |
| Inflation in 1938 | -2.08% |
| Inflation in 2004 | 2.66% |
| $100 in 1938 → 2004 | $1,340 |
| $100 in 2004 → 1938 | $7.46 |
Between 1938 and 2004, the Consumer Price Index went from 14.1 to 188.9. Cumulatively, prices increased 1239.7%, which works out to an average of 4.01% per year. Put differently, a dollar in 1938 bought what $0.07 buys in 2004.
| Amount in 1938 | Value in 2004 |
|---|---|
| $1.00 | $13.40 |
| $5.00 | $66.99 |
| $10.00 | $134 |
| $20.00 | $268 |
| $50.00 | $670 |
| $100 | $1,340 |
| $500 | $6,699 |
| $1,000 | $13,397 |
| $5,000 | $66,986 |
| $10,000 | $133,972 |
| $100,000 | $1,339,716 |
| $1,000,000 | $13,397,163 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1938 spending costs in 2004, by category:
| Category | Avg. yearly inflation | $100 in 1938 → |
|---|---|---|
| All items (CPI-U) | 4.01% | $1,340 |
| Medical care | 5.29% | $3,011 |
| Food | 4.23% | $1,539 |
| Transportation | 3.72% | $1,117 |
| Apparel | 2.62% | $550 |
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 |
| 1943 | 17.3 | 6.1% | $123 |
| 1948 | 24.1 | 8.1% | $171 |
| 1953 | 26.7 | 0.8% | $189 |
| 1958 | 28.9 | 2.8% | $205 |
| 1963 | 30.6 | 1.3% | $217 |
| 1968 | 34.8 | 4.2% | $247 |
| 1973 | 44.4 | 6.2% | $315 |
| 1978 | 65.2 | 7.6% | $462 |
| 1983 | 99.6 | 3.2% | $706 |
| 1988 | 118.3 | 4.1% | $839 |
| 1993 | 144.5 | 3.0% | $1,025 |
| 1998 | 163 | 1.6% | $1,156 |
| 2003 | 184 | 2.3% | $1,305 |
| 2004 | 188.9 | 2.7% | $1,340 |
Long periods are sampled every 5 years; the calculator above covers any pair of years.
MLA: “Inflation from 1938 to 2004: $100 is worth $1,340 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1938-to-2004/
APA: InflationCalculator.com. Inflation from 1938 to 2004. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1938-to-2004/
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.