$100 in 1938 is worth $1,385 in 2005,
because prices increased 1285.1% over that period, an average of
4.00% a year.
$100 in 1938 has
the same buying power as
$1,385
in 2005
Detailed inflation statistics
Cumulative price change
1285.1%
Average inflation rate
4.00% per year
Converted amount ($100 base)
$1,385
Price difference ($100 base)
$1,285
CPI in 1938
14.1
CPI in 2005
195.3
Inflation in 1938
-2.08%
Inflation in 2005
3.39%
$100 in 1938 → 2005
$1,385
$100 in 2005 → 1938
$7.22
What happened to prices between 1938 and 2005
Between 1938 and 2005, the Consumer Price Index went from 14.1 to 195.3.
Cumulatively, prices increased 1285.1%, which works out to an average of
4.00% per year. Put differently, a dollar in 1938 bought what
$0.07 buys in 2005: the 1938 dollar
lost 92.8% of its purchasing power over
these 67 years.
Consumer prices fell 2.1% in 1938, reversing most of 1937’s
gain and interrupting four straight years of recovery from the Depression’s
trough. The National Bureau of Economic Research dates the bottom of the
downturn, which had begun that May, to June 1938, a sharp 13-month
contraction that briefly pushed unemployment back up near 19%. Even in a
year the economy was shrinking again, Congress passed one of the New Deal’s
most lasting reforms. The Fair Labor Standards Act, signed June 25 and
effective that October, established the first federal minimum wage, 25
cents an hour, capped the standard workweek at 44 hours with time-and-a-half
overtime beyond it, and restricted the employment of children in most
industries. The wage floor and hours limits applied only to workers engaged
in interstate commerce at first, but they set a precedent that would expand
in the decades that followed. Consumer prices stood 42.4% above their
1913 level and 17.5% below their 1929 peak, evidence of how
far the recovery still had to go even eight years after the Depression
began. First-class postage held at 3 cents.
Every 1938 amount converts to 2005 at the same ratio, 13.85: $1,000 becomes
$13,851, and $10,000 becomes $138,511.
Amount in 1938
Value in 2005
$1.00
$13.85
$5.00
$69.26
$10.00
$139
$20.00
$277
$50.00
$693
$100
$1,385
$500
$6,926
$1,000
$13,851
$5,000
$69,255
$10,000
$138,511
$100,000
$1,385,106
$1,000,000
$13,851,064
Inflation by spending category, 1938–2005
Between 1938 and 2005, medical care rose the most, up 3037.9%, while apparel rose the least, up 445.7%, against 1285.1% for all items. The headline number is an average; here is what $100 of 1938
spending costs in 2005, by category:
Category
Avg. yearly inflation
$100 in 1938 →
All items (CPI-U)
4.00%
$1,385
Medical care
5.28%
$3,138
Food
4.20%
$1,576
Transportation
3.77%
$1,191
Apparel
2.56%
$546
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–).
Decade by decade: 1938 to 2005
Prices climbed fastest in the 1970s, averaging 7.82% a year, and fell in the 1930s (0.4% a year). Each step below chains into the full 1938–2005 change:
Years
Avg. yearly inflation
Price change
$100 from 1938, at end
1938–1940
-0.36%
-0.7%
$99.29
1940–1950
5.58%
72.1%
$171
1950–1960
2.08%
22.8%
$210
1960–1970
2.74%
31.1%
$275
1970–1980
7.82%
112.4%
$584
1980–1990
4.72%
58.6%
$927
1990–2000
2.80%
31.8%
$1,221
2000–2005
2.55%
13.4%
$1,385
Year by year: CPI and the value of $100 from 1938
$100 from 1938 had already become $315 by
1973, on its way to $1,385 in 2005; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 14.4% in 1947, and prices fell 1.4% in 1939, the deepest deflation of the period.
Long periods are sampled every 5 years; the calculator above covers any pair of years.
The destination year: 2005
In 2005, prices rose 3.4% and $100 from 1938 had the buying
power of $1,385; the year's average CPI of 195.3 is the level
behind every 2005 figure on this page.
Inflation rose to 3.4% in 2005, up from 2.7% in 2004, as gasoline averaged $2.30 a gallon,
compared with $1.88 the year before. Hurricane Katrina made landfall on August 29, and with
Hurricane Rita weeks later it disrupted Gulf Coast refining, pushing the national average
price past $3 in early September. The Federal Reserve raised its policy rate at every meeting,
from 2.25% to 4.25%, to keep energy costs from feeding into other prices. The median household
earned about $46,300, up 4.5% from 2004, but the median new home price rose a further 9%, to
$240,900. In April, Congress passed a bankruptcy law that made it harder to clear debts. A
first-class stamp stayed at 37 cents until January 2006, and the federal minimum wage stayed
at $5.15.
MLA: “Inflation from 1938 to 2005: $100 is worth $1,385 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1938-to-2005/
APA: InflationCalculator.com. Inflation from 1938 to 2005. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1938-to-2005/