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, the dollar experienced an average inflation rate of 2.90% per year. Prices in 2017 are 1331.0% higher than prices in 1924.
In other words, $1 in the year 1924 is equivalent to $14.31 in 2017, a difference of $13.31 over 93 years.
|Cumulative price change||1331.00%|
|Average inflation rate||2.90%|
|Price difference ($1 base)||$13.31|
|CPI in 1924||17.1|
|CPI in 2017||244.786|
Inflation Data Source: The Bureau of Labor Statistics' Consumer Price Index (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.