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 |
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.