The consumer price index (CPI) in 1942 was 16.3. 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 3.68% per year. Prices in 2017 are 1402.0% higher than prices in 1942.

In other words, $1 in the year 1942 is equivalent to $15.02 in 2017, a difference of $14.02 over 75 years.

The
current inflation rate
in 2017 is 1.99%^{1}. If this number holds, $1 today will be equivalent to $1.02 next year.

Cumulative price change | 1402.00% |

Average inflation rate | 3.68% |

Price difference ($1 base) | $14.02 |

CPI in 1942 | 16.3 |

CPI in 2017 | 244.786 |

CPI in 2017 / CPI in 1942 * 1942 USD value = 2017 USD value

Then plug in historical CPI values. The U.S. CPI was 16.3 in the year 1942 and 244.786 in 2017:

244.786 / 16.3 * $1 =

$1 in 1942 has the same "purchasing power" as $15.02 in 2017.

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

- The 28 nations at war with Axis powers pledge not to make separate peace deals with them.
- Wannsee conference takes place in Berlin:,Nazi officials organize the extermination of the European Jews', which is now known as the "final solution".
- Anne Frank gets a diary for her birthday.

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 1942 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Education, 12 Dec. 2017, http://www.in2013dollars.com/inflation-rate-in-1942.