Chicago, Illinois prices: $500 in 1990 $901.82 in 2018

Inflation in Illinois

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Prices in Chicago, 1990-2018 ($500)

According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois were 80.36% higher in 2018 versus 1990 (a $401.82 difference in value).

Between 1990 and 2018: Chicago experienced an average inflation rate of 2.13% per year. This rate of change indicates significant inflation. In other words, $500 in Chicago in the year 1990 would cost $901.82 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.35% during this same period, inflation in Chicago was lower.

In the year 1990: Pricing changed by 5.37%, which is significantly above the average yearly change in Chicago during the 1990-2018 time period. Compared to inflation for all items in 1990 (5.40%), inflation in Chicago was lower.

Price Inflation in Chicago, Illinois since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (21.36%), 1920 (19.10%), and 1918 (16.80%).

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
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 96.183 100.017 103.792 107.708 109.958 114.492 118.967 124.983 131.700 137.042 141.058 145.408 148.592 153.317 157.417 161.725 164.983 168.400 173.808 178.333 181.175 184.508 188.633 194.342 198.325 204.818 212.536 209.995 212.870 218.684 222.005 224.545 228.468 227.792 229.302 233.611 237.540

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Buying power of $500 since 1990

Below are calculations of equivalent buying power in Chicago, over time, for $500 beginning in 1990. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1990 $500.00 5.37%
1991 $520.28 4.06%
1992 $535.53 2.93%
1993 $552.04 3.08%
1994 $564.13 2.19%
1995 $582.07 3.18%
1996 $597.63 2.67%
1997 $613.99 2.74%
1998 $626.36 2.01%
1999 $639.33 2.07%
2000 $659.86 3.21%
2001 $677.04 2.60%
2002 $687.83 1.59%
2003 $700.49 1.84%
2004 $716.15 2.24%
2005 $737.82 3.03%
2006 $752.94 2.05%
2007 $777.59 3.27%
2008 $806.89 3.77%
2009 $797.25 -1.20%
2010 $808.16 1.37%
2011 $830.24 2.73%
2012 $842.84 1.52%
2013 $852.49 1.14%
2014 $867.38 1.75%
2015 $864.82 -0.30%
2016 $870.55 0.66%
2017 $886.91 1.88%
2018 $901.82 1.68%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for Chicago, 1990-2018

Start with the inflation rate formula:

CPI in 2018 / CPI in 1990 * 1990 USD value = 2018 USD value

Then plug in historical CPI values from above. The CPI for Chicago, Illinois was 131.700 in the year 1990 and 237.540 in 2018:

237.540 / 131.700 * $500 = $901.82

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 1990 has the same "purchasing power" as $901.82 in 2018 (in the CPI category of Chicago, Illinois).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Chicago, Illinois in 1914. In addition to Chicago, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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