Inflation Calculator
U.S. Inflation Rate, 1940-2018 ($1)
The consumer price index (CPI) in 1940 was 14. 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 3.76% per year. Prices in 2018 are 1679.0% higher than prices in 1940.
In other words, $1 in the year 1940 is equivalent in purchasing power to $17.79 in 2018, a difference of $16.79 over 78 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.
| Cumulative price change | 1679.00% |
| Average inflation rate | 3.76% |
| Price difference ($1 base) | $16.79 |
| CPI in 1940 | 14 |
| CPI in 2018 | 248.991 |
Inflation rates for specific categories
Gasoline (all types) · Legal services · Fish and seafood · More
How to calculate the inflation rate for $1 since 1940
Start with the inflation rate formula:CPI in 2018 / CPI in 1940 * 1940 USD value = 2018 USD value
Then plug in historical CPI values. The U.S. CPI was 14 in the year 1940 and 248.991 in 2018:
248.991 / 14 * $1 = $17.79
$1 in 1940 has the same "purchasing power" as $17.79 in 2018.
Inflation Data Source
Raw data for these calculations comes from 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.
You may use the following MLA citation for this page: “Inflation Rate in 1940 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018, http://www.in2013dollars.com/inflation-rate-in-1940.