According to the U.S. Bureau of Labor Statistics, prices for apparel are 384.10% higher in 2024 versus 1923 (a $2,688,680.20 difference in value).
Between 1923 and 2024: Apparel experienced an average inflation rate of 1.57% per year. In other words, apparel costing $700,000 in the year 1923 would cost $3,388,680.20 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.91% during this same period, inflation for apparel was lower.
In the year 1923: Pricing changed by 0.89%, which is below the average yearly change for apparel during the 1923-2024 time period. Compared to inflation for all items in 1923 (1.79%), inflation for apparel was lower.
Below are calculations of equivalent buying power for Apparel, over time, for $700,000 beginning in 1923. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1923 | $700,000.00 | 0.89% |
1924 | $691,217.71 | -1.25% |
1925 | $679,335.79 | -1.72% |
1926 | $667,281.67 | -1.77% |
1927 | $652,644.53 | -2.19% |
1928 | $644,895.45 | -1.19% |
1929 | $637,146.37 | -1.20% |
1930 | $621,648.22 | -2.43% |
1931 | $557,933.58 | -10.25% |
1932 | $495,940.96 | -11.11% |
1933 | $492,496.92 | -0.69% |
1934 | $533,825.34 | 8.39% |
1935 | $537,269.37 | 0.65% |
1936 | $543,296.43 | 1.12% |
1937 | $571,881.92 | 5.26% |
1938 | $564,649.45 | -1.26% |
1939 | $558,450.18 | -1.10% |
1940 | $563,468.63 | 0.90% |
1941 | $589,327.28 | 4.59% |
1942 | $689,667.90 | 17.03% |
1943 | $719,472.04 | 4.32% |
1944 | $769,940.39 | 7.01% |
1945 | $809,679.25 | 5.16% |
1946 | $888,362.19 | 9.72% |
1947 | $1,029,633.83 | 15.90% |
1948 | $1,097,984.67 | 6.64% |
1949 | $1,054,669.32 | -3.94% |
1950 | $1,040,562.02 | -1.34% |
1951 | $1,134,544.42 | 9.03% |
1952 | $1,122,424.07 | -1.07% |
1953 | $1,115,072.38 | -0.65% |
1954 | $1,111,297.19 | -0.34% |
1955 | $1,107,720.69 | -0.32% |
1956 | $1,129,974.45 | 2.01% |
1957 | $1,149,446.49 | 1.72% |
1958 | $1,153,817.77 | 0.38% |
1959 | $1,162,957.71 | 0.79% |
1960 | $1,180,442.80 | 1.50% |
1961 | $1,189,781.44 | 0.79% |
1962 | $1,196,338.35 | 0.55% |
1963 | $1,211,041.73 | 1.23% |
1964 | $1,221,373.83 | 0.85% |
1965 | $1,233,096.79 | 0.96% |
1966 | $1,266,080.05 | 2.67% |
1967 | $1,317,740.56 | 4.08% |
1968 | $1,388,078.34 | 5.34% |
1969 | $1,467,953.45 | 5.75% |
1970 | $1,528,555.21 | 4.13% |
1971 | $1,578,030.09 | 3.24% |
1972 | $1,610,615.95 | 2.06% |
1973 | $1,669,628.16 | 3.66% |
1974 | $1,793,414.70 | 7.41% |
1975 | $1,873,289.81 | 4.45% |
1976 | $1,943,428.90 | 3.74% |
1977 | $2,030,457.00 | 4.48% |
1978 | $2,101,788.25 | 3.51% |
1979 | $2,193,783.71 | 4.38% |
1980 | $2,348,963.95 | 7.07% |
1981 | $2,461,027.53 | 4.77% |
1982 | $2,525,603.18 | 2.62% |
1983 | $2,587,993.19 | 2.47% |
1984 | $2,635,679.82 | 1.84% |
1985 | $2,712,773.20 | 2.92% |
1986 | $2,735,821.74 | 0.85% |
1987 | $2,856,230.49 | 4.40% |
1988 | $2,980,215.73 | 4.34% |
1989 | $3,063,071.25 | 2.78% |
1990 | $3,205,137.67 | 4.64% |
1991 | $3,324,552.94 | 3.73% |
1992 | $3,406,414.99 | 2.46% |
1993 | $3,452,512.06 | 1.35% |
1994 | $3,445,756.46 | -0.20% |
1995 | $3,408,600.62 | -1.08% |
1996 | $3,401,845.02 | -0.20% |
1997 | $3,431,649.16 | 0.88% |
1998 | $3,436,020.44 | 0.13% |
1999 | $3,391,314.22 | -1.30% |
2000 | $3,347,005.39 | -1.31% |
2001 | $3,287,397.10 | -1.78% |
2002 | $3,203,548.11 | -2.55% |
2003 | $3,122,282.15 | -2.54% |
2004 | $3,110,757.88 | -0.37% |
2005 | $3,087,709.34 | -0.74% |
2006 | $3,085,523.70 | -0.07% |
2007 | $3,073,755.04 | -0.38% |
2008 | $3,071,396.54 | -0.08% |
2009 | $3,101,649.73 | 0.98% |
2010 | $3,086,795.34 | -0.48% |
2011 | $3,154,150.72 | 2.18% |
2012 | $3,261,447.63 | 3.40% |
2013 | $3,291,066.99 | 0.91% |
2014 | $3,293,725.52 | 0.08% |
2015 | $3,252,095.09 | -1.26% |
2016 | $3,255,782.86 | 0.11% |
2017 | $3,244,590.41 | -0.34% |
2018 | $3,245,685.21 | 0.03% |
2019 | $3,204,287.26 | -1.28% |
2020 | $3,050,003.12 | -4.81% |
2021 | $3,125,272.50 | 2.47% |
2022 | $3,282,529.09 | 5.03% |
2023 | $3,372,881.35 | 2.75% |
2024 | $3,388,680.20 | 0.47%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Apparel:
Year | 1913 | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 14.900 | 15.000 | 15.450 | 17.350 | 21.200 | 29.550 | 37.733 | 42.800 | 31.625 | 26.860 | 27.100 | 26.760 | 26.300 | 25.833 | 25.267 | 24.967 | 24.667 | 24.067 | 21.600 | 19.200 | 19.067 | 20.667 | 20.800 | 21.033 | 22.140 | 21.860 | 21.620 | 21.814 | 22.815 | 26.700 | 27.854 | 29.808 | 31.346 | 34.392 | 39.862 | 42.508 | 40.831 | 40.285 | 43.923 | 43.454 | 43.169 | 43.023 | 42.885 | 43.746 | 44.500 | 44.669 | 45.023 | 45.700 | 46.062 | 46.315 | 46.885 | 47.285 | 47.738 | 49.015 | 51.015 | 53.738 | 56.831 | 59.177 | 61.092 | 62.354 | 64.638 | 69.431 | 72.523 | 75.238 | 78.608 | 81.369 | 84.931 | 90.938 | 95.277 | 97.777 | 100.192 | 102.038 | 105.023 | 105.915 | 110.577 | 115.377 | 118.585 | 124.085 | 128.708 | 131.877 | 133.662 | 133.400 | 131.962 | 131.700 | 132.854 | 133.023 | 131.292 | 129.577 | 127.269 | 124.023 | 120.877 | 120.431 | 119.538 | 119.454 | 118.998 | 118.907 | 120.078 | 119.503 | 122.111 | 126.265 | 127.411 | 127.514 | 125.903 | 126.045 | 125.612 | 125.654 | 124.052 | 118.079 | 120.993 | 127.081 | 130.579 | 131.190 |