U.S. inflation rate in 1934: 3.08%

Inflation Calculator


U.S. Inflation Rate, 1934-2018 ($1)

The consumer price index (CPI) in 1934 was 13.4. 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 3.54% per year. Prices in 2018 are 1758.0% higher than prices in 1934.

In other words, $1 in the year 1934 is equivalent in purchasing power to $18.58 in 2018, a difference of $17.58 over 84 years.

The current inflation rate in 2018 is 1.72%1. If this number holds, $1 today will be equivalent to $1.02 next year.

Inflation from 1934 to 2018
Cumulative price change 1758.00%
Average inflation rate 3.54%
Price difference ($1 base) $17.58
CPI in 1934 13.4
CPI in 2018 248.991

U.S. inflation from 1913 to 2017

Inflation rates for specific categories

Wireless telephone services · Admission to sporting events · Electricity · More

Inflation-adjusted measures

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

How to calculate the inflation rate for $1 since 1934

Start with the inflation rate formula:

CPI in 2018 / CPI in 1934 * 1934 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 13.4 in the year 1934 and 248.991 in 2018:

248.991 / 13.4 * $1 = $18.58

$1 in 1934 has the same "purchasing power" as $18.58 in 2018.

News headlines from 1934

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

  • American and Canadian prairies suffer during "The Great Dustbowl", a period of drought and severe dust storms.
  • John Dillinger becomes commonly known as America's first Public Enemy Number One.
  • Hitler brutally purges the leadership of the Nazi party in an event known as "Night of Long Knives".
  • The Assassination of Leningrad mayor Sergey Kirov is used as a pretext by Stalin to start the Great Purge of the Communist party.

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 1934 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 23 Apr. 2018, http://www.in2013dollars.com/inflation-rate-in-1934.

» Read more about inflation.