U.S. inflation rate in 1948: 8.07%

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U.S. Inflation Rate, 1948-2018 ($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 consumer price index, the dollar experienced an average inflation rate of 3.39% per year. Prices in 2018 are 933.0% higher than prices in 1948.

In other words, $1 in the year 1948 is equivalent in purchasing power to $10.33 in 2018, a difference of $9.33 over 70 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.

Inflation from 1948 to 2018
Cumulative price change 933.00%
Average inflation rate 3.39%
Price difference ($1 base) $9.33
CPI in 1948 24.1
CPI in 2018 248.991


U.S. inflation from 1913 to 2017


Inflation rates for specific categories

Baby food · Educational books and supplies · Milk · 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 2018 / CPI in 1948 * 1948 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 24.1 in the year 1948 and 248.991 in 2018:

248.991 / 24.1 * $1 = $10.33

$1 in 1948 has the same "purchasing power" as $10.33 in 2018.


News headlines from 1948

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

  • 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

Raw data for these calculations comes from 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.

You may use the following MLA citation for this page: “Inflation Rate in 1948 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 23 Apr. 2018, http://www.in2013dollars.com/inflation-rate-in-1948.


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