According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 929.53% higher in 2024 versus 1956 (a $3,950,483,437,779.77 difference in value).
Between 1956 and 2024: Chicago experienced an average inflation rate of 3.49% per year. This rate of change indicates significant inflation. In other words, $425,000,000,000 in Chicago in the year 1956 would cost $4,375,483,437,779.77 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.65% during this same period, inflation in Chicago was lower.
In the year 1956: Pricing changed by 1.39%, which is below the average yearly change in Chicago during the 1956-2024 time period. Compared to inflation for all items in 1956 (1.52%), inflation in Chicago was lower.
Below are calculations of equivalent buying power in Chicago, over time, for $425,000,000,000 beginning in 1956. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1956 | $425,000,000,000.00 | 1.39% |
1957 | $438,824,231,572.66 | 3.25% |
1958 | $452,141,151,894.96 | 3.03% |
1959 | $455,819,158,460.16 | 0.81% |
1960 | $462,160,549,089.82 | 1.39% |
1961 | $464,443,449,716.50 | 0.49% |
1962 | $469,262,906,595.05 | 1.04% |
1963 | $473,955,535,661.00 | 1.00% |
1964 | $475,857,952,849.90 | 0.40% |
1965 | $482,199,343,479.56 | 1.33% |
1966 | $496,657,714,115.19 | 3.00% |
1967 | $509,594,150,999.70 | 2.60% |
1968 | $531,154,879,140.56 | 4.23% |
1969 | $560,198,448,224.41 | 5.47% |
1970 | $592,285,884,810.50 | 5.73% |
1971 | $615,622,202,327.66 | 3.94% |
1972 | $633,124,440,465.53 | 2.84% |
1973 | $672,821,545,807.22 | 6.27% |
1974 | $743,971,948,672.04 | 10.57% |
1975 | $802,693,225,902.72 | 7.89% |
1976 | $841,122,053,118.47 | 4.79% |
1977 | $894,009,250,969.86 | 6.29% |
1978 | $971,754,700,089.53 | 8.70% |
1979 | $1,093,002,088,928.68 | 12.48% |
1980 | $1,250,649,059,982.10 | 14.42% |
1981 | $1,370,374,515,070.13 | 9.57% |
1982 | $1,463,846,612,951.36 | 6.82% |
1983 | $1,522,187,406,744.26 | 3.99% |
1984 | $1,579,640,405,849.00 | 3.77% |
1985 | $1,639,249,477,767.83 | 3.77% |
1986 | $1,673,492,987,168.01 | 2.09% |
1987 | $1,742,487,317,218.74 | 4.12% |
1988 | $1,810,593,852,581.32 | 3.91% |
1989 | $1,902,163,533,273.65 | 5.06% |
1990 | $2,004,386,750,223.81 | 5.37% |
1991 | $2,085,683,378,096.09 | 4.06% |
1992 | $2,146,814,383,766.04 | 2.93% |
1993 | $2,213,018,501,939.72 | 3.08% |
1994 | $2,261,466,726,350.34 | 2.19% |
1995 | $2,333,378,096,090.72 | 3.18% |
1996 | $2,395,777,379,886.60 | 2.67% |
1997 | $2,461,347,358,997.31 | 2.74% |
1998 | $2,510,937,033,721.28 | 2.01% |
1999 | $2,562,936,436,884.51 | 2.07% |
2000 | $2,645,247,687,257.53 | 3.21% |
2001 | $2,714,115,189,495.67 | 2.60% |
2002 | $2,757,363,473,589.97 | 1.59% |
2003 | $2,808,094,598,627.28 | 1.84% |
2004 | $2,870,874,365,860.94 | 2.24% |
2005 | $2,957,751,417,487.32 | 3.03% |
2006 | $3,018,375,111,906.89 | 2.05% |
2007 | $3,117,187,928,976.43 | 3.27% |
2008 | $3,234,650,775,887.80 | 3.77% |
2009 | $3,195,986,048,940.61 | -1.20% |
2010 | $3,239,746,717,397.79 | 1.37% |
2011 | $3,328,228,140,853.48 | 2.73% |
2012 | $3,378,765,219,337.51 | 1.52% |
2013 | $3,417,428,678,006.57 | 1.14% |
2014 | $3,477,127,797,672.34 | 1.75% |
2015 | $3,466,848,403,461.65 | -0.30% |
2016 | $3,489,820,725,156.67 | 0.66% |
2017 | $3,555,409,728,439.27 | 1.88% |
2018 | $3,617,731,647,269.47 | 1.75% |
2019 | $3,670,609,967,173.98 | 1.46% |
2020 | $3,711,581,692,032.23 | 1.12% |
2021 | $3,868,132,870,784.84 | 4.22% |
2022 | $4,160,298,492,987.17 | 7.55% |
2023 | $4,298,694,270,367.06 | 3.33% |
2024 | $4,375,483,437,779.77 | 1.79%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Chicago, Illinois:
Year | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 10.000 | 10.017 | 10.317 | 11.758 | 13.733 | 16.667 | 19.850 | 18.175 | 17.167 | 17.375 | 17.717 | 18.108 | 18.425 | 18.258 | 17.692 | 17.650 | 17.458 | 15.958 | 14.083 | 12.633 | 12.717 | 13.267 | 13.533 | 14.092 | 13.992 | 13.717 | 13.792 | 14.517 | 15.958 | 16.850 | 17.108 | 17.475 | 19.033 | 22.108 | 24.033 | 24.008 | 24.250 | 26.158 | 26.725 | 26.958 | 27.358 | 27.542 | 27.925 | 28.833 | 29.708 | 29.950 | 30.367 | 30.517 | 30.833 | 31.142 | 31.267 | 31.683 | 32.633 | 33.483 | 34.900 | 36.808 | 38.917 | 40.450 | 41.600 | 44.208 | 48.883 | 52.742 | 55.267 | 58.742 | 63.850 | 71.817 | 82.175 | 90.042 | 96.183 | 100.017 | 103.792 | 107.708 | 109.958 | 114.492 | 118.967 | 124.983 | 131.700 | 137.042 | 141.058 | 145.408 | 148.592 | 153.317 | 157.417 | 161.725 | 164.983 | 168.400 | 173.808 | 178.333 | 181.175 | 184.508 | 188.633 | 194.342 | 198.325 | 204.818 | 212.536 | 209.995 | 212.870 | 218.684 | 222.005 | 224.545 | 228.468 | 227.792 | 229.302 | 233.611 | 237.706 | 241.181 | 243.873 | 254.159 | 273.356 | 282.450 | 287.495 |