U.S. inflation rate in 1924: 0.00%

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U.S. Inflation Rate, 1924-2018 ($1)

The consumer price index (CPI) in 1924 was 17.1. the Bureau of Labor Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.89% per year. Prices in 2018 are 1350.0% higher than prices in 1924.

In other words, $1 in the year 1924 is equivalent in purchasing power to $14.50 in 2018, a difference of $13.50 over 94 years.

The current inflation rate in 2018 is 1.26%1. If this number holds, $1 today will be equivalent to $1.01 next year.

Inflation from 1924 to 2018
Cumulative price change 1350.00%
Average inflation rate 2.89%
Price difference ($1 base) $13.50
CPI in 1924 17.1
CPI in 2018 247.867


U.S. inflation from 1913 to 2017


Inflation rates for specific categories

Film and photographic supplies · Jewelry · Legal services · More

Inflation-adjusted measures

S&P 500 price · S&P 500 earnings · Shiller P/E

How to calculate the inflation rate for $1 since 1924

Start with the inflation rate formula:

CPI in 2018 / CPI in 1924 * 1924 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 17.1 in the year 1924 and 247.867 in 2018:

247.867 / 17.1 * $1 = $14.50

$1 in 1924 has the same "purchasing power" as $14.50 in 2018.


Inflation Data Source

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: “Inflation Rate in 1924 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 16 Feb. 2018, http://www.in2013dollars.com/inflation-rate-in-1924.


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