$100 in 1950 is worth $763 in 2003,
because prices increased 663.5% over that period, an average of
3.91% a year.
$100 in 1950 has
the same buying power as
$763
in 2003
Detailed inflation statistics
Cumulative price change
663.5%
Average inflation rate
3.91% per year
Converted amount ($100 base)
$763
Price difference ($100 base)
$663
CPI in 1950
24.1
CPI in 2003
184
Inflation in 1950
1.26%
Inflation in 2003
2.28%
$100 in 1950 → 2003
$763
$100 in 2003 → 1950
$13.10
What happened to prices between 1950 and 2003
Between 1950 and 2003, the Consumer Price Index went from 24.1 to 184.
Cumulatively, prices increased 663.5%, which works out to an average of
3.91% per year. Put differently, a dollar in 1950 bought what
$0.13 buys in 2003: the 1950 dollar
lost 86.9% of its purchasing power over
these 53 years.
Consumer prices rose 1.3% in 1950, up from 1949’s 1.2%
decline, a mild gain that hid a sharp turn partway through the year. The
cost of living had been roughly flat through the spring, then jumped after
North Korea invaded South Korea on June 25, setting off a wave of hoarding
and defense buying reminiscent of World War II shortages. The United
States entered the war within days under a United Nations mandate;
American and South Korean forces were pushed back to the Pusan Perimeter
that summer before a landing at Inchon that September reversed the front,
and China’s entry into the war that November turned it into a longer
stalemate. Congress moved to put the economy on a war footing that
September, passing the Defense Production Act, which gave the president
authority to direct industrial output toward the military and, if prices
kept climbing, to impose formal wage and price controls. Domestic policy
also expanded that year: the Social Security Amendments of 1950, signed
August 28, raised benefits across the board and extended coverage to
roughly 10 million more workers, the program’s first major expansion since
it began in 1935. Consumer prices finished 1950 143.4% above their
1913 level, matching 1948’s postwar high
after 1949’s brief decline. First-class postage held at 3 cents, and the
minimum wage stood at 75 cents an hour after January’s increase.
Every 1950 amount converts to 2003 at the same ratio, 7.63: $1,000 becomes
$7,635, and $10,000 becomes $76,349.
Amount in 1950
Value in 2003
$1.00
$7.63
$5.00
$38.17
$10.00
$76.35
$20.00
$153
$50.00
$382
$100
$763
$500
$3,817
$1,000
$7,635
$5,000
$38,174
$10,000
$76,349
$100,000
$763,485
$1,000,000
$7,634,855
Inflation by spending category, 1950–2003
Between 1950 and 2003, medical care rose the most, up 1867.5%, while apparel rose the least, up 200.0%, against 663.5% for all items. The headline number is an average; here is what $100 of 1950
spending costs in 2003, by category:
Category
Avg. yearly inflation
$100 in 1950 →
All items (CPI-U)
3.91%
$763
Medical care
5.78%
$1,968
Food
3.76%
$709
Transportation
3.72%
$694
Apparel
2.09%
$300
Not shown because the BLS began these indexes after 1950: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
Decade by decade: 1950 to 2003
Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 1950s (2.08% a year). Each step below chains into the full 1950–2003 change:
Years
Avg. yearly inflation
Price change
$100 from 1950, at end
1950–1960
2.08%
22.8%
$123
1960–1970
2.74%
31.1%
$161
1970–1980
7.82%
112.4%
$342
1980–1990
4.72%
58.6%
$542
1990–2000
2.80%
31.8%
$715
2000–2003
2.23%
6.9%
$763
Year by year: CPI and the value of $100 from 1950
$100 from 1950 had already become $236 by
1976, on its way to $763 in 2003; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 13.5% in 1980, and prices fell 0.4% in 1955, the deepest deflation of the period.
Long periods are sampled every 2 years; the calculator above covers any pair of years.
The destination year: 2003
In 2003, prices rose 2.3% and $100 from 1950 had the buying
power of $763; the year's average CPI of 184 is the level
behind every 2003 figure on this page.
Inflation was 2.3% in 2003, up from 1.6% in 2002, as gasoline climbed from $1.36 to $1.59 a
gallon around the March invasion of Iraq. Even so, the Federal Reserve spent the year worried
about prices being too low: on June 25 it cut its policy rate to 1.0%, the lowest since 1958,
and said the risk of deflation, though small, deserved a response. The median household earned
about $43,300 and a new home cost roughly $195,000. Congress passed a second round of tax cuts
in May, and the economy grew faster in the second half of the year than at any point since
1999. Hiring lagged the recovery, and unemployment peaked at 6.3% in June. A first-class stamp
stayed at 37 cents and the federal minimum wage at $5.15.
MLA: “Inflation from 1950 to 2003: $100 is worth $763 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1950-to-2003/
APA: InflationCalculator.com. Inflation from 1950 to 2003. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1950-to-2003/