$1,000,000 in 1913 is worth $980,198.02 in 1913

Value of $1,000,000 from 1915 to 1913

According to the Bureau of Labor Statistics consumer price index, prices in 1913 are 1.98% lower than average prices since 1915. The U.S. dollar experienced an average inflation rate of 1.01% per year during this period, causing the real value of a dollar to decrease.

In other words, $1,000,000 in 1915 is equivalent in purchasing power to about $980,198.02 in 1913, a difference of $-19,801.98 over 2 years.

The 1913 inflation rate was 2.06%. The inflation rate in 1915 was 1.00%. The 1915 inflation rate is lower compared to the average inflation rate of 3.13% per year between 1915 and 2020.


Inflation from 1915 to 1913
Cumulative price change -1.98%
Average inflation rate 1.01%
Converted amount ($1,000,000 base) $980,198.02
Price difference ($1,000,000 base) $-19,801.98
CPI in 1915 10.100
CPI in 1913 9.900
Inflation in 1913 2.06%
Inflation in 1915 1.00%

USD Inflation since 1913
Annual Rate, the Bureau of Labor Statistics CPI
Download

Buying power of $1,000,000 in 1913

This chart shows a calculation of buying power equivalence for $1,000,000 in 1913 (price index tracking began in 1635).

For example, if you started with $1,000,000, you would need to end with $980,198.02 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1,000,000 is equivalent to $980,198.02 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1913 dollars, the chart below shows how $1,000,000 is worth less over 2 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1913-1915
Year Dollar Value Inflation Rate
1913 $1,000,000.00 2.06%
1914 $1,010,101.01 1.01%
1915 $1,020,202.02 1.00%
1916 $1,101,010.10 7.92%
1917 $1,292,929.29 17.43%
1918 $1,525,252.53 17.97%
1919 $1,747,474.75 14.57%
1920 $2,020,202.02 15.61%
1921 $1,808,080.81 -10.50%
1922 $1,696,969.70 -6.15%
1923 $1,727,272.73 1.79%
1924 $1,727,272.73 0.00%
1925 $1,767,676.77 2.34%
1926 $1,787,878.79 1.14%
1927 $1,757,575.76 -1.69%
1928 $1,727,272.73 -1.72%
1929 $1,727,272.73 0.00%
1930 $1,686,868.69 -2.34%
1931 $1,535,353.54 -8.98%
1932 $1,383,838.38 -9.87%
1933 $1,313,131.31 -5.11%
1934 $1,353,535.35 3.08%
1935 $1,383,838.38 2.24%
1936 $1,404,040.40 1.46%
1937 $1,454,545.45 3.60%
1938 $1,424,242.42 -2.08%
1939 $1,404,040.40 -1.42%
1940 $1,414,141.41 0.72%
1941 $1,484,848.48 5.00%
1942 $1,646,464.65 10.88%
1943 $1,747,474.75 6.13%
1944 $1,777,777.78 1.73%
1945 $1,818,181.82 2.27%
1946 $1,969,696.97 8.33%
1947 $2,252,525.25 14.36%
1948 $2,434,343.43 8.07%
1949 $2,404,040.40 -1.24%
1950 $2,434,343.43 1.26%
1951 $2,626,262.63 7.88%
1952 $2,676,767.68 1.92%
1953 $2,696,969.70 0.75%
1954 $2,717,171.72 0.75%
1955 $2,707,070.71 -0.37%
1956 $2,747,474.75 1.49%
1957 $2,838,383.84 3.31%
1958 $2,919,191.92 2.85%
1959 $2,939,393.94 0.69%
1960 $2,989,898.99 1.72%
1961 $3,020,202.02 1.01%
1962 $3,050,505.05 1.00%
1963 $3,090,909.09 1.32%
1964 $3,131,313.13 1.31%
1965 $3,181,818.18 1.61%
1966 $3,272,727.27 2.86%
1967 $3,373,737.37 3.09%
1968 $3,515,151.52 4.19%
1969 $3,707,070.71 5.46%
1970 $3,919,191.92 5.72%
1971 $4,090,909.09 4.38%
1972 $4,222,222.22 3.21%
1973 $4,484,848.48 6.22%
1974 $4,979,797.98 11.04%
1975 $5,434,343.43 9.13%
1976 $5,747,474.75 5.76%
1977 $6,121,212.12 6.50%
1978 $6,585,858.59 7.59%
1979 $7,333,333.33 11.35%
1980 $8,323,232.32 13.50%
1981 $9,181,818.18 10.32%
1982 $9,747,474.75 6.16%
1983 $10,060,606.06 3.21%
1984 $10,494,949.49 4.32%
1985 $10,868,686.87 3.56%
1986 $11,070,707.07 1.86%
1987 $11,474,747.47 3.65%
1988 $11,949,494.95 4.14%
1989 $12,525,252.53 4.82%
1990 $13,202,020.20 5.40%
1991 $13,757,575.76 4.21%
1992 $14,171,717.17 3.01%
1993 $14,595,959.60 2.99%
1994 $14,969,696.97 2.56%
1995 $15,393,939.39 2.83%
1996 $15,848,484.85 2.95%
1997 $16,212,121.21 2.29%
1998 $16,464,646.46 1.56%
1999 $16,828,282.83 2.21%
2000 $17,393,939.39 3.36%
2001 $17,888,888.89 2.85%
2002 $18,171,717.17 1.58%
2003 $18,585,858.59 2.28%
2004 $19,080,808.08 2.66%
2005 $19,727,272.73 3.39%
2006 $20,363,636.36 3.23%
2007 $20,943,636.36 2.85%
2008 $21,747,777.78 3.84%
2009 $21,670,404.04 -0.36%
2010 $22,025,858.59 1.64%
2011 $22,721,111.11 3.16%
2012 $23,191,313.13 2.07%
2013 $23,531,010.10 1.46%
2014 $23,912,727.27 1.62%
2015 $23,941,111.11 0.12%
2016 $24,243,131.31 1.26%
2017 $24,759,595.96 2.13%
2018 $25,376,767.68 2.49%
2019 $25,823,989.90 1.76%
2020 $25,897,878.79 0.29%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1913 amounts in 1915 dollars, based on the -1.98% change in prices:

Conversion Table: Value of a dollar in 1915
Initial value Equivalent value
$1 dollar in 1913 $1.02 dollars in 1915
$5 dollars in 1913 $5.10 dollars in 1915
$10 dollars in 1913 $10.20 dollars in 1915
$50 dollars in 1913 $51.01 dollars in 1915
$100 dollars in 1913 $102.02 dollars in 1915
$500 dollars in 1913 $510.10 dollars in 1915
$1,000 dollars in 1913 $1,020.20 dollars in 1915
$5,000 dollars in 1913 $5,101.01 dollars in 1915
$10,000 dollars in 1913 $10,202.02 dollars in 1915
$50,000 dollars in 1913 $51,010.10 dollars in 1915
$100,000 dollars in 1913 $102,020.20 dollars in 1915
$500,000 dollars in 1913 $510,101.01 dollars in 1915
$1,000,000 dollars in 1913 $1,020,202.02 dollars in 1915

Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £1,000,000.00 in 1915 would be equivalent to £890,909.09 in 1913, an absolute change of £-109,090.91 and a cumulative change of -10.91%.

Compare these numbers to the US's overall absolute change of $-19,801.98 and total percent change of -1.98%.


Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes. This chart shows the average rate of inflation for select CPI categories between 1915 and 1913.

Compare these values to the overall average of 1.01% per year:

Category Avg Inflation (%) Total Inflation (%) $1,000,000 in 1913 → 1915
Food and beverages 0.00 0.00 1,000,000.00
Housing 0.00 0.00 1,000,000.00
Apparel 1.83 3.69 1,036,912.75
Transportation 0.00 0.00 1,000,000.00
Medical care 0.00 0.00 1,000,000.00
Recreation 0.00 0.00 1,000,000.00
Education and communication 0.00 0.00 1,000,000.00
Other goods and services 0.00 0.00 1,000,000.00

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1915. This table and charts use the earliest available data for each category.



How to Calculate Inflation Rate for $1,000,000, 1913 to 1915

Our calculations use the following inflation rate formula to calculate the change in value between 1913 and 1915:

CPI in 1913 CPI in 1915
×
1915 USD value
=
1913 USD value

Then plug in historical CPI values. The U.S. CPI was 10.1 in the year 1915 and 9.9 in 1913:

9.910.1
×
$1,000,000
=
$980,198.02

$1,000,000 in 1915 has the same "purchasing power" or "buying power" as $980,198.02 in 1913.

To get the total inflation rate for the 2 years between 1913 and 1915, we use the following formula:

CPI in 1913 - CPI in 1915CPI in 1915
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

9.9 - 10.110.1
×
100
=
-2%

News headlines from 1913

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

  • French troops force Germans back into the Champagne region, suffering losses of 50,000 men and gaining several hundred yards.
  • Germany uses poison gas for the first time in World War I.
  • Almost 430,000 French, British, and Germans are killed in the Battle of Loos.
  • The one-millionth Model T is produced by Ford Motor Company.

Data Source & Citation

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: “$1,000,000 in 1915 → 1913 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 5 Jun. 2020, https://www.officialdata.org/1915-dollars-in-1913?amount=1000000.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1915 to 1913
Cumulative price change -1.98%
Average inflation rate 1.01%
Converted amount ($1,000,000 base) $980,198.02
Price difference ($1,000,000 base) $-19,801.98
CPI in 1915 10.100
CPI in 1913 9.900
Inflation in 1913 2.06%
Inflation in 1915 1.00%