$100 in 1956 is worth $923 in 2018,
because prices increased 823.2% over that period, an average of
3.65% a year.
$100 in 1956 has
the same buying power as
$923
in 2018
Detailed inflation statistics
Cumulative price change
823.2%
Average inflation rate
3.65% per year
Converted amount ($100 base)
$923
Price difference ($100 base)
$823
CPI in 1956
27.2
CPI in 2018
251.107
Inflation in 1956
1.49%
Inflation in 2018
2.44%
$100 in 1956 → 2018
$923
$100 in 2018 → 1956
$10.83
What happened to prices between 1956 and 2018
Between 1956 and 2018, the Consumer Price Index went from 27.2 to 251.107.
Cumulatively, prices increased 823.2%, which works out to an average of
3.65% per year. Put differently, a dollar in 1956 bought what
$0.11 buys in 2018: the 1956 dollar
lost 89.2% of its purchasing power over
these 62 years.
Consumer prices rose 1.5% in 1956, a return to mild inflation after they had
fallen 0.4% in 1955, the only annual decline of the decade. The two years sat
in the calmest stretch of the postwar index, a lull between the Korean War
price surge earlier in the 1950s and the acceleration that would return in
the 1970s. Congress had already raised the wage floor into that calm: the
Fair Labor Standards Amendments of 1955, signed the previous August, took
effect March 1 and lifted the federal minimum wage from 75 cents to $1 an
hour, the first increase since 1950. Eisenhower signed a longer-lasting
commitment on June 29, the Federal-Aid Highway Act, funding 41,000 miles of
controlled-access highway at 90% federal cost to build the Interstate
System, the largest public-works program the country had undertaken. He won
a second term that November, carrying 41 states and about 57% of the
popular vote in a rematch against Adlai Stevenson. Abroad, the Suez Crisis
broke the calm on the supply side: Egypt nationalized the canal on July 26,
and after Israel invaded the Sinai on October 29 with British and French
forces following, the canal’s closure and damaged pipelines squeezed oil
shipments to Western Europe for months. Consumer prices stood 174.7% above
their 1913 level by 1956, up 94% since 1940
alone, even after a decade that had barely moved the index. First-class
postage held at 3 cents, unchanged since 1932.
Every 1956 amount converts to 2018 at the same ratio, 9.23: $1,000 becomes
$9,232, and $10,000 becomes $92,319.
Amount in 1956
Value in 2018
$1.00
$9.23
$5.00
$46.16
$10.00
$92.32
$20.00
$185
$50.00
$462
$100
$923
$500
$4,616
$1,000
$9,232
$5,000
$46,159
$10,000
$92,319
$100,000
$923,188
$1,000,000
$9,231,875
Inflation by spending category, 1956–2018
Between 1956 and 2018, medical care rose the most, up 2464.6%, while apparel rose the least, up 187.5%, against 823.2% for all items. The headline number is an average; here is what $100 of 1956
spending costs in 2018, by category:
Category
Avg. yearly inflation
$100 in 1956 →
All items (CPI-U)
3.65%
$923
Medical care
5.37%
$2,565
Food
3.62%
$906
Transportation
3.42%
$804
Apparel
1.72%
$288
Not shown because the BLS began these indexes after 1956: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), recreation (1993–), education & communication (1993–).
Decade by decade: 1956 to 2018
Prices climbed fastest in the 1970s, averaging 7.82% a year, and slowest in the 2010s (1.78% a year). Each step below chains into the full 1956–2018 change:
Years
Avg. yearly inflation
Price change
$100 from 1956, at end
1956–1960
2.14%
8.8%
$109
1960–1970
2.74%
31.1%
$143
1970–1980
7.82%
112.4%
$303
1980–1990
4.72%
58.6%
$481
1990–2000
2.80%
31.8%
$633
2000–2010
2.39%
26.6%
$802
2010–2018
1.78%
15.2%
$923
Year by year: CPI and the value of $100 from 1956
$100 from 1956 had already become $403 by
1986, on its way to $923 in 2018; 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 2009, the deepest deflation of the period.
Long periods are sampled every 5 years; the calculator above covers any pair of years.
The destination year: 2018
In 2018, prices rose 2.4% and $100 from 1956 had the buying
power of $923; the year's average CPI of 251.107 is the level
behind every 2018 figure on this page.
2018 was the peak of the late-2010s expansion. Consumer prices rose 2.4%,
the fastest since 2011, with gasoline averaging $2.72 a gallon after a summer
high. Unemployment fell to 3.7% in September, the lowest since 1969, and median
household income reached $63,179. The median new home sold for about $331,800,
and a first-class stamp cost 50 cents. The federal minimum wage was still $7.25.
Trade policy became a price factor for the first time in decades. New tariffs
on steel, aluminum, and a growing list of Chinese goods raised costs for
manufacturers and some consumer products, and retaliation cut into exports of
soybeans and other farm goods.
The Federal Reserve, led from February by Jerome Powell, raised rates four
times to 2.25–2.50%. A stock-market drop of nearly 20% in the fourth quarter
led the Fed to signal a pause in early 2019. Oil fell from over $75 a barrel in
October to below $50 by December, which pulled headline inflation lower going
into the next year.
MLA: “Inflation from 1956 to 2018: $100 is worth $923 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1956-to-2018/
APA: InflationCalculator.com. Inflation from 1956 to 2018. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1956-to-2018/