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, the dollar experienced an average inflation rate of 3.79% per year. Prices in 2017 are 1648.0% higher than prices in 1940.
In other words, $1 in the year 1940 is equivalent to $17.48 in 2017, a difference of $16.48 over 77 years.
|Cumulative price change||1648.00%|
|Average inflation rate||3.79%|
|Price difference ($1 base)||$16.48|
|CPI in 1940||14|
|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.