$240 in 1914 → $6,051.50 in 2018

Inflation Calculator

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U.S. Inflation Rate, $240 in 1914 to 2018

According to the Bureau of Labor Statistics consumer price index, prices in 2018 are 2,421.46% higher than prices in 1914. The dollar experienced an average inflation rate of 2.70% per year during this period.

In other words, $240 in 1914 is equivalent in purchasing power to $6,051.50 in 2018, a difference of $5,811.50 over 104 years.

The 1914 inflation rate was 1.01%. The current inflation rate (2017 to 2018) is now 2.70%1. If this number holds, $240 today will be equivalent to $246.48 next year. The current inflation rate page gives more detail on the latest official inflation rates.


Inflation from 1914 to 2018
Cumulative price change 2421.46%
Average inflation rate 2.70%
Converted amount ($240 base) $6,051.50
Price difference ($240 base) $5,811.50
CPI in 1914 10
CPI in 2018 252.146
Inflation in 1914 1.01%
Inflation in 2018 2.70%


U.S. Inflation since 1913
Annual Rate, U.S. Bureau of Labor Statistics CPI

Buying power of $240 since 1914

This chart shows calculations of buying power equivalence over time for $240 in 1914 (price index tracking began in 1635).

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Year USD Value Inflation Rate
1914 $240.00 1.01%
1915 $242.40 1.00%
1916 $261.60 7.92%
1917 $307.20 17.43%
1918 $362.40 17.97%
1919 $415.20 14.57%
1920 $480.00 15.61%
1921 $429.60 -10.50%
1922 $403.20 -6.15%
1923 $410.40 1.79%
1924 $410.40 0.00%
1925 $420.00 2.34%
1926 $424.80 1.14%
1927 $417.60 -1.69%
1928 $410.40 -1.72%
1929 $410.40 0.00%
1930 $400.80 -2.34%
1931 $364.80 -8.98%
1932 $328.80 -9.87%
1933 $312.00 -5.11%
1934 $321.60 3.08%
1935 $328.80 2.24%
1936 $333.60 1.46%
1937 $345.60 3.60%
1938 $338.40 -2.08%
1939 $333.60 -1.42%
1940 $336.00 0.72%
1941 $352.80 5.00%
1942 $391.20 10.88%
1943 $415.20 6.13%
1944 $422.40 1.73%
1945 $432.00 2.27%
1946 $468.00 8.33%
1947 $535.20 14.36%
1948 $578.40 8.07%
1949 $571.20 -1.24%
1950 $578.40 1.26%
1951 $624.00 7.88%
1952 $636.00 1.92%
1953 $640.80 0.75%
1954 $645.60 0.75%
1955 $643.20 -0.37%
1956 $652.80 1.49%
1957 $674.40 3.31%
1958 $693.60 2.85%
1959 $698.40 0.69%
1960 $710.40 1.72%
1961 $717.60 1.01%
1962 $724.80 1.00%
1963 $734.40 1.32%
1964 $744.00 1.31%
1965 $756.00 1.61%
1966 $777.60 2.86%
1967 $801.60 3.09%
1968 $835.20 4.19%
1969 $880.80 5.46%
1970 $931.20 5.72%
1971 $972.00 4.38%
1972 $1,003.20 3.21%
1973 $1,065.60 6.22%
1974 $1,183.20 11.04%
1975 $1,291.20 9.13%
1976 $1,365.60 5.76%
1977 $1,454.40 6.50%
1978 $1,564.80 7.59%
1979 $1,742.40 11.35%
1980 $1,977.60 13.50%
1981 $2,181.60 10.32%
1982 $2,316.00 6.16%
1983 $2,390.40 3.21%
1984 $2,493.60 4.32%
1985 $2,582.40 3.56%
1986 $2,630.40 1.86%
1987 $2,726.40 3.65%
1988 $2,839.20 4.14%
1989 $2,976.00 4.82%
1990 $3,136.80 5.40%
1991 $3,268.80 4.21%
1992 $3,367.20 3.01%
1993 $3,468.00 2.99%
1994 $3,556.80 2.56%
1995 $3,657.60 2.83%
1996 $3,765.60 2.95%
1997 $3,852.00 2.29%
1998 $3,912.00 1.56%
1999 $3,998.40 2.21%
2000 $4,132.80 3.36%
2001 $4,250.40 2.85%
2002 $4,317.60 1.58%
2003 $4,416.00 2.28%
2004 $4,533.60 2.66%
2005 $4,687.20 3.39%
2006 $4,838.40 3.23%
2007 $4,976.21 2.85%
2008 $5,167.27 3.84%
2009 $5,148.89 -0.36%
2010 $5,233.34 1.64%
2011 $5,398.54 3.16%
2012 $5,510.26 2.07%
2013 $5,590.97 1.46%
2014 $5,681.66 1.62%
2015 $5,688.41 0.12%
2016 $5,760.17 1.26%
2017 $5,882.88 2.13%
2018 $6,051.50 2.87%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £240.00 in 1914 would be equivalent to £26,896.45 in 2018, an absolute change of £26,656.45 and a cumulative change of 11,106.86%.

In Canada, CA$240.00 in 1914 would be equivalent to CA$5,244.59 in 2018, an absolute change of CA$5,004.59 and a cumulative change of 2,085.25%.

Compare these numbers to the US's overall absolute change of $5,811.50 and total percent change of 2,421.46%.


Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. This chart shows the average rate of inflation for select CPI categories between 1914 and 2018.

Compare these values to the overall average of 2.70% per year:

Category Avg Inflation (%) Total Inflation (%) $240 in 1914 → 2018
Food 3.14 2,392.11 5,981.06
Shelter 4.10 6,423.38 15,656.12
Energy 3.88 5,156.97 12,616.74
Apparel 2.07 738.20 2,011.69
New vehicles 1.05 197.52 714.04
Used cars and trucks 0.61 89.01 453.63
Transportation services 3.35 2,962.76 7,350.63
Medical care services 5.11 17,668.77 42,645.05
Medical care commodities 4.29 7,772.13 18,893.12

It's important to note that not all categories may be tracked since 1914. This table and visualization use the earliest available data for each category.



How to Calculate Inflation Rate for $240 since 1914

This inflation calculator uses the following inflation rate formula:

CPI in 2018CPI in 1914
×
1914 USD value
=
2018 USD value

Then plug in historical CPI values. The U.S. CPI was 10 in the year 1914 and 252.146 in 2018:

252.14610
×
$240
=
$6,051.50

$240 in 1914 has the same "purchasing power" or "buying power" as $6,051.50 in 2018.

To get the total inflation rate for the 104 years between 1914 and 2018, we use the following formula:

CPI in 2018 - CPI in 1914CPI in 1914
×
100
=
Cumulative inflation rate (104 years)

Plugging in the values to this equation, we get:

252.146 - 1010
×
100
=
2,421%

News headlines from 1914

Politics and news often influence economic performance. Here's what was happening at the time:

  • The Model T assembly line is introduced by Henry Ford's company.
  • The first successful blood transfusion happens in Brussels, Belgium.
  • The Assassination of Franz Ferdinand, an Austrian prince, and his wife Sophie by Serbian nationalist Gavrilo Princip in Sarayevo signals the start of World War I.
  • Austria-Hungary declares war on Serbia, officially beginning World War I.
  • Germany declares war on France and Belgium in World War I.

Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.

You may use the following MLA citation for this page: “$240 in 1914 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 Sep. 2018, https://www.officialdata.org/1914-dollars-in-2018?amount=240.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation.