U.S. inflation · 1948–2023
$100 in 1948 has the same buying power as
$1,264
in 2023
| Cumulative price change | 1164.3% |
|---|---|
| Average inflation rate | 3.44% per year |
| Converted amount ($100 base) | $1,264 |
| Price difference ($100 base) | $1,164 |
| CPI in 1948 | 24.1 |
| CPI in 2023 | 304.702 |
| Inflation in 1948 | 8.07% |
| Inflation in 2023 | 4.12% |
| $100 in 1948 → 2023 | $1,264 |
| $100 in 2023 → 1948 | $7.91 |
Between 1948 and 2023, the Consumer Price Index went from 24.1 to 304.702. Cumulatively, prices increased 1164.3%, which works out to an average of 3.44% per year. Put differently, a dollar in 1948 bought what $0.08 buys in 2023.
| Amount in 1948 | Value in 2023 |
|---|---|
| $1.00 | $12.64 |
| $5.00 | $63.22 |
| $10.00 | $126 |
| $20.00 | $253 |
| $50.00 | $632 |
| $100 | $1,264 |
| $500 | $6,322 |
| $1,000 | $12,643 |
| $5,000 | $63,216 |
| $10,000 | $126,432 |
| $100,000 | $1,264,324 |
| $1,000,000 | $12,643,237 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1948 spending costs in 2023, by category:
| Category | Avg. yearly inflation | $100 in 1948 → |
|---|---|---|
| All items (CPI-U) | 3.44% | $1,264 |
| Medical care | 4.97% | $3,813 |
| Transportation | 3.47% | $1,296 |
| Food | 3.41% | $1,237 |
| Apparel | 1.51% | $307 |
Not shown because the BLS began these indexes after 1948: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
| Year | CPI | Inflation rate | $100 from 1948 |
|---|---|---|---|
| 1948 | 24.1 | 8.1% | $100 |
| 1953 | 26.7 | 0.8% | $111 |
| 1958 | 28.9 | 2.8% | $120 |
| 1963 | 30.6 | 1.3% | $127 |
| 1968 | 34.8 | 4.2% | $144 |
| 1973 | 44.4 | 6.2% | $184 |
| 1978 | 65.2 | 7.6% | $271 |
| 1983 | 99.6 | 3.2% | $413 |
| 1988 | 118.3 | 4.1% | $491 |
| 1993 | 144.5 | 3.0% | $600 |
| 1998 | 163 | 1.6% | $676 |
| 2003 | 184 | 2.3% | $763 |
| 2008 | 215.303 | 3.8% | $893 |
| 2013 | 232.957 | 1.5% | $967 |
| 2018 | 251.107 | 2.4% | $1,042 |
| 2023 | 304.702 | 4.1% | $1,264 |
Long periods are sampled every 5 years; the calculator above covers any pair of years.
MLA: “Inflation from 1948 to 2023: $100 is worth $1,264 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1948-to-2023/
APA: InflationCalculator.com. Inflation from 1948 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1948-to-2023/
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.