U.S. inflation · 1968–1979

Value of $100 in 1968, adjusted to 1979

$100 in 1968 is worth $209 in 1979, because prices increased 108.6% over that period, an average of 6.91% a year.

$100 in 1968 has the same buying power as

$209

in 1979

$100$154$20919681971197419761979$100 · 1968$209 · 1979
Detailed inflation statistics
Cumulative price change108.6%
Average inflation rate6.91% per year
Converted amount ($100 base)$209
Price difference ($100 base)$109
CPI in 196834.8
CPI in 197972.6
Inflation in 19684.19%
Inflation in 197911.35%
$100 in 1968 → 1979$209
$100 in 1979 → 1968$47.93

What happened to prices between 1968 and 1979

Between 1968 and 1979, the Consumer Price Index went from 34.8 to 72.6. Cumulatively, prices increased 108.6%, which works out to an average of 6.91% per year. Put differently, a dollar in 1968 bought what $0.48 buys in 1979: the 1968 dollar lost 52.1% of its purchasing power over these 11 years.

Consumer prices rose 4.2% in 1968, up sharply from 1967’s 3.1% and the fastest pace in 17 years, as Vietnam War spending and a tight labor market pushed inflation higher despite the Federal Reserve’s earlier tightening. The year was marked by political violence: Martin Luther King Jr. was assassinated on a motel balcony in Memphis on April 4, touching off rioting in more than 100 cities, and Robert F. Kennedy was shot in Los Angeles on June 5, moments after winning California’s Democratic presidential primary, and died the next day. Washington tried to answer the inflation problem directly that June 28, when Congress passed a 10% income tax surcharge, the Revenue and Expenditure Control Act, temporarily raising taxes and cutting spending to cool an economy overheated by war and Great Society outlays; prices kept accelerating anyway. The cost of living rose in smaller, more visible ways too: first-class postage climbed to 6 cents that January 7, and the minimum wage rose to $1.60 an hour that February 1, the final step of the increase Congress had set two years earlier. Consumer prices finished 1968 251.5% above their 1913 level.

More about inflation in 1968 →

Common amounts: 1968 dollars in 1979

Every 1968 amount converts to 1979 at the same ratio, 2.09: $1,000 becomes $2,086, and $10,000 becomes $20,862.

Amount in 1968Value in 1979
$1.00$2.09
$5.00$10.43
$10.00$20.86
$20.00$41.72
$50.00$104
$100$209
$500$1,043
$1,000$2,086
$5,000$10,431
$10,000$20,862
$100,000$208,621
$1,000,000$2,086,207

Inflation by spending category, 1968–1979

Between 1968 and 1979, energy rose the most, up 171.5%, while apparel rose the least, up 58.1%, against 108.6% for all items. The headline number is an average; here is what $100 of 1968 spending costs in 1979, by category:

Category Avg. yearly inflation $100 in 1968 →
All items (CPI-U) 6.91% $209
Energy 9.50% $271
Food 7.71% $226
Medical care 7.68% $226
Housing 7.39% $219
Transportation 6.77% $206
Core (all items less food & energy) 6.41% $198
Apparel 4.25% $158

Not shown because the BLS began these indexes after 1968: recreation (1993–), education & communication (1993–).

Decade by decade: 1968 to 1979

Prices climbed fastest in the 1970s, averaging 7.21% a year, and slowest in the 1960s (5.59% a year). Each step below chains into the full 1968–1979 change:

Years Avg. yearly inflation Price change $100 from 1968, at end
1968–1970 5.59% 11.5% $111
1970–1979 7.21% 87.1% $209

Year by year: CPI and the value of $100 from 1968

$100 from 1968 had already become $128 by 1973, on its way to $209 in 1979; each row shows the CPI, that year's inflation rate, and the running value. Within the span, inflation peaked at 11.3% in 1979, and the smallest rise was 3.2% in 1972.

Year CPI Inflation rate $100 from 1968
1968 34.8 4.2% $100
1969 36.7 5.5% $105
1970 38.8 5.7% $111
1971 40.5 4.4% $116
1972 41.8 3.2% $120
1973 44.4 6.2% $128
1974 49.3 11.0% $142
1975 53.8 9.1% $155
1976 56.9 5.8% $164
1977 60.6 6.5% $174
1978 65.2 7.6% $187
1979 72.6 11.3% $209

The destination year: 1979

In 1979, prices rose 11.3% and $100 from 1968 had the buying power of $209; the year's average CPI of 72.6 is the level behind every 1979 figure on this page.

Consumer prices rose 11.3% in 1979, the fastest pace since 1947 and the decade’s second bout of double-digit inflation after 1974’s 11.0%. The trigger was familiar: the Iranian Revolution that January halted Iran’s oil exports, and panic buying amplified the shortage, sending crude prices sharply higher over the year and motorists back into gas lines, with some states reviving the odd-even rationing last seen in 1974. Paul Volcker, appointed Federal Reserve chairman that August, responded with a strategy shift announced that October: the Fed would target the money supply directly and let interest rates rise as high as necessary to break inflation, whatever the short-term cost. That cost would arrive as a deep recession in 1981-82, but by year’s end 1979 had already delivered enough turmoil on its own. A reactor at the Three Mile Island plant near Harrisburg, Pennsylvania, suffered a partial core meltdown that March 28, the worst commercial nuclear accident in U.S. history, and on November 4, militants in Tehran stormed the U.S. embassy and took 52 Americans hostage, beginning a 444-day crisis that consumed the rest of Carter’s presidency. A median household earned $16,461 in 1979, a new home sold for a median $62,900, and gas jumped to 86 cents a gallon. Consumer prices finished the decade 97.8% above where they stood in 1969, very nearly doubling in ten years, and stood 633.3% above their 1913 level. The 1970s had opened with inflation cooling from the 1969 spike and closed with prices rising faster than at any point since 1947, setting up the Great Inflation’s final act in 1980.

More about inflation in 1979 →

Cite this page

MLA: “Inflation from 1968 to 1979: $100 is worth $209 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1968-to-1979/

APA: InflationCalculator.com. Inflation from 1968 to 1979. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1968-to-1979/

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.