U.S. inflation · 1940–1998
$100 in 1940 has the same buying power as
$1,164
in 1998
| Cumulative price change | 1064.3% |
|---|---|
| Average inflation rate | 4.32% per year |
| Converted amount ($100 base) | $1,164 |
| Price difference ($100 base) | $1,064 |
| CPI in 1940 | 14 |
| CPI in 1998 | 163 |
| Inflation in 1940 | 0.72% |
| Inflation in 1998 | 1.56% |
| $100 in 1940 → 1998 | $1,164 |
| $100 in 1998 → 1940 | $8.59 |
Between 1940 and 1998, the Consumer Price Index went from 14 to 163. Cumulatively, prices increased 1064.3%, which works out to an average of 4.32% per year. Put differently, a dollar in 1940 bought what $0.09 buys in 1998.
| Amount in 1940 | Value in 1998 |
|---|---|
| $1.00 | $11.64 |
| $5.00 | $58.21 |
| $10.00 | $116 |
| $20.00 | $233 |
| $50.00 | $582 |
| $100 | $1,164 |
| $500 | $5,821 |
| $1,000 | $11,643 |
| $5,000 | $58,214 |
| $10,000 | $116,429 |
| $100,000 | $1,164,286 |
| $1,000,000 | $11,642,857 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1940 spending costs in 1998, by category:
| Category | Avg. yearly inflation | $100 in 1940 → |
|---|---|---|
| All items (CPI-U) | 4.32% | $1,164 |
| Medical care | 5.58% | $2,328 |
| Food | 4.58% | $1,339 |
| Transportation | 4.04% | $997 |
| Apparel | 3.17% | $610 |
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 |
| 1942 | 16.3 | 10.9% | $116 |
| 1944 | 17.6 | 1.7% | $126 |
| 1946 | 19.5 | 8.3% | $139 |
| 1948 | 24.1 | 8.1% | $172 |
| 1950 | 24.1 | 1.3% | $172 |
| 1952 | 26.5 | 1.9% | $189 |
| 1954 | 26.9 | 0.7% | $192 |
| 1956 | 27.2 | 1.5% | $194 |
| 1958 | 28.9 | 2.8% | $206 |
| 1960 | 29.6 | 1.7% | $211 |
| 1962 | 30.2 | 1.0% | $216 |
| 1964 | 31 | 1.3% | $221 |
| 1966 | 32.4 | 2.9% | $231 |
| 1968 | 34.8 | 4.2% | $249 |
| 1970 | 38.8 | 5.7% | $277 |
| 1972 | 41.8 | 3.2% | $299 |
| 1974 | 49.3 | 11.0% | $352 |
| 1976 | 56.9 | 5.8% | $406 |
| 1978 | 65.2 | 7.6% | $466 |
| 1980 | 82.4 | 13.5% | $589 |
| 1982 | 96.5 | 6.2% | $689 |
| 1984 | 103.9 | 4.3% | $742 |
| 1986 | 109.6 | 1.9% | $783 |
| 1988 | 118.3 | 4.1% | $845 |
| 1990 | 130.7 | 5.4% | $934 |
| 1992 | 140.3 | 3.0% | $1,002 |
| 1994 | 148.2 | 2.6% | $1,059 |
| 1996 | 156.9 | 3.0% | $1,121 |
| 1998 | 163 | 1.6% | $1,164 |
Long periods are sampled every 2 years; the calculator above covers any pair of years.
MLA: “Inflation from 1940 to 1998: $100 is worth $1,164 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1940-to-1998/
APA: InflationCalculator.com. Inflation from 1940 to 1998. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1940-to-1998/
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.