U.S. inflation rate in 1948: 8.07%

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U.S. Inflation Rate, 1948-2017 ($1)

The consumer price index (CPI) in 1948 was 24.1. 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 3.42% per year. Prices in 2017 are 916.0% higher than prices in 1948.

In other words, $1 in the year 1948 is equivalent to $10.16 in 2017, a difference of $9.16 over 69 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.

Inflation from 1948 to 2017
Cumulative price change 916.00%
Average inflation rate 3.42%
Price difference ($1 base) $9.16
CPI in 1948 24.1
CPI in 2017 244.786


U.S. inflation from 1913 to 2017


Inflation rates for specific categories

Juices and nonalcoholic drinks · Jewelry · Rent of primary residence · More

Inflation-adjusted measures

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

How to calculate the inflation rate for $1 since 1948

Start with the inflation rate formula:

CPI in 2017 / CPI in 1948 * 1948 USD value = 2017 USD value

Then plug in historical CPI values. The U.S. CPI was 24.1 in the year 1948 and 244.786 in 2017:

244.786 / 24.1 * $1 = $10.16

The "purchasing power" of $1 from 1948 is $10.16 in 2017.


News headlines from 1948

Politics and news often play an important role in economic performance.

  • Mahatma Gandhi is assassinated by Nathuram Godse.
  • Israel declares independence from British administration.
  • The International Declaration of Human Rights is adopted by United Nations Commission on Human Rights.
  • Moscow celebrates 500 years of the Russian Orthodox Church.
  • Physicists Alpher, Bethe and Gamow propose the Big Bang theory in the ‘Physical Review’

Inflation Data Source: 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.


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