U.S. inflation · 1940–1948
$100 in 1940 has the same buying power as
$172
in 1948
| Cumulative price change | 72.1% |
|---|---|
| Average inflation rate | 7.03% per year |
| Converted amount ($100 base) | $172 |
| Price difference ($100 base) | $72.14 |
| CPI in 1940 | 14 |
| CPI in 1948 | 24.1 |
| Inflation in 1940 | 0.72% |
| Inflation in 1948 | 8.07% |
| $100 in 1940 → 1948 | $172 |
| $100 in 1948 → 1940 | $58.09 |
Between 1940 and 1948, the Consumer Price Index went from 14 to 24.1. Cumulatively, prices increased 72.1%, which works out to an average of 7.03% per year. Put differently, a dollar in 1940 bought what $0.58 buys in 1948.
| Amount in 1940 | Value in 1948 |
|---|---|
| $1.00 | $1.72 |
| $5.00 | $8.61 |
| $10.00 | $17.21 |
| $20.00 | $34.43 |
| $50.00 | $86.07 |
| $100 | $172 |
| $500 | $861 |
| $1,000 | $1,721 |
| $5,000 | $8,607 |
| $10,000 | $17,214 |
| $100,000 | $172,143 |
| $1,000,000 | $1,721,429 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1940 spending costs in 1948, by category:
| Category | Avg. yearly inflation | $100 in 1940 → |
|---|---|---|
| All items (CPI-U) | 7.03% | $172 |
| Food | 10.20% | $218 |
| Apparel | 8.70% | $195 |
| Transportation | 4.76% | $145 |
| Medical care | 4.15% | $138 |
Not shown because the BLS began these indexes after 1940: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
| Year | CPI | Inflation rate | $100 from 1940 |
|---|---|---|---|
| 1940 | 14 | 0.7% | $100 |
| 1941 | 14.7 | 5.0% | $105 |
| 1942 | 16.3 | 10.9% | $116 |
| 1943 | 17.3 | 6.1% | $124 |
| 1944 | 17.6 | 1.7% | $126 |
| 1945 | 18 | 2.3% | $129 |
| 1946 | 19.5 | 8.3% | $139 |
| 1947 | 22.3 | 14.4% | $159 |
| 1948 | 24.1 | 8.1% | $172 |
MLA: “Inflation from 1940 to 1948: $100 is worth $172 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1940-to-1948/
APA: InflationCalculator.com. Inflation from 1940 to 1948. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1940-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.