$100 in 1946 is worth $1,257 in 2017,
because prices increased 1157.0% over that period, an average of
3.63% a year.
$100 in 1946 has
the same buying power as
$1,257
in 2017
Detailed inflation statistics
Cumulative price change
1157.0%
Average inflation rate
3.63% per year
Converted amount ($100 base)
$1,257
Price difference ($100 base)
$1,157
CPI in 1946
19.5
CPI in 2017
245.12
Inflation in 1946
8.33%
Inflation in 2017
2.13%
$100 in 1946 → 2017
$1,257
$100 in 2017 → 1946
$7.96
What happened to prices between 1946 and 2017
Between 1946 and 2017, the Consumer Price Index went from 19.5 to 245.12.
Cumulatively, prices increased 1157.0%, which works out to an average of
3.63% per year. Put differently, a dollar in 1946 bought what
$0.08 buys in 2017: the 1946 dollar
lost 92.0% of its purchasing power over
these 71 years.
Consumer prices rose 8.3% in 1946, up sharply from 1945’s
2.3% and the sharpest increase since 1942, as wartime price controls
finally came apart. Congress let the Office of Price Administration’s
authority lapse at the end of June, reinstated a weaker version soon after,
then wound the whole system down through the rest of the year, releasing
years of pent-up demand into the price level almost at once. Meat was the
clearest casualty of the fight over decontrol: farmers withheld livestock
rather than sell at capped prices, producing severe shortages that spring
and summer until ceilings on meat were lifted that October, after which
supplies reappeared almost overnight. Labor cashed in its own wartime
restraint the same year. An estimated 4.6 million workers walked out at
some point in 1946, hitting steel, coal, automakers, and the railroads in
the largest strike wave in U.S. history, as unions pushed for wage gains to
offset cost-of-living increases controls could no longer contain. Amid the
turmoil, Congress made a less visible but lasting change to economic
policy: the Employment Act of 1946, signed that February, committed the
federal government to promoting maximum employment and created the Council
of Economic Advisers. Consumer prices stood 97.0% above their
1913 level, nearly double where the index had started 33
years earlier. First-class postage held at 3 cents, and the minimum wage
stayed at 40 cents an hour.
Every 1946 amount converts to 2017 at the same ratio, 12.57: $1,000 becomes
$12,570, and $10,000 becomes $125,703.
Amount in 1946
Value in 2017
$1.00
$12.57
$5.00
$62.85
$10.00
$126
$20.00
$251
$50.00
$629
$100
$1,257
$500
$6,285
$1,000
$12,570
$5,000
$62,851
$10,000
$125,703
$100,000
$1,257,026
$1,000,000
$12,570,256
Inflation by spending category, 1946–2017
Between 1946 and 2017, medical care rose the most, up 3702.6%, while apparel rose the least, up 265.2%, against 1157.0% for all items. The headline number is an average; here is what $100 of 1946
spending costs in 2017, by category:
Category
Avg. yearly inflation
$100 in 1946 →
All items (CPI-U)
3.63%
$1,257
Medical care
5.26%
$3,803
Food
3.64%
$1,263
Transportation
3.57%
$1,207
Apparel
1.84%
$365
Not shown because the BLS began these indexes after 1946: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
Decade by decade: 1946 to 2017
Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 2010s (1.69% a year). Each step below chains into the full 1946–2017 change:
Years
Avg. yearly inflation
Price change
$100 from 1946, at end
1946–1950
5.44%
23.6%
$124
1950–1960
2.08%
22.8%
$152
1960–1970
2.74%
31.1%
$199
1970–1980
7.82%
112.4%
$423
1980–1990
4.72%
58.6%
$670
1990–2000
2.80%
31.8%
$883
2000–2010
2.39%
26.6%
$1,118
2010–2017
1.69%
12.4%
$1,257
Year by year: CPI and the value of $100 from 1946
$100 from 1946 had already become $466 by
1981, on its way to $1,257 in 2017; 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 1.2% in 1949, the deepest deflation of the period.
Long periods are sampled every 5 years; the calculator above covers any pair of years.
The destination year: 2017
In 2017, prices rose 2.1% and $100 from 1946 had the buying
power of $1,257; the year's average CPI of 245.12 is the level
behind every 2017 figure on this page.
2017 pushed consumer prices back above the Federal Reserve’s 2% target. The
CPI rose 2.1%, the first reading over 2% in five years, helped by a rebound
in energy after OPEC’s output cuts and by a storm-related spike at the pump:
Hurricane Harvey shut a large part of Gulf Coast refining in late August.
Gasoline averaged $2.42 a gallon, up from $2.14 in 2016.
Household incomes kept rising. The median household income reached $61,372,
and the median new home sold for about $322,100. The federal minimum wage
stayed at $7.25, its eighth year at that level, and a first-class stamp rose
to 49 cents.
The Fed raised rates three times, to 1.25–1.50%, and in October began
letting its bond holdings shrink. Congress passed the Tax Cuts and Jobs Act
in December, lowering the corporate rate to 21%. Even with unemployment near
4%, core inflation stayed under 2%, a puzzle that shaped Fed debates for the
next two years.
MLA: “Inflation from 1946 to 2017: $100 is worth $1,257 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1946-to-2017/
APA: InflationCalculator.com. Inflation from 1946 to 2017. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1946-to-2017/