According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 2,686.70% higher in 2024 versus 1916 (a $53,734,087.24 difference in value).
Between 1916 and 2024: Chicago experienced an average inflation rate of 3.13% per year. This rate of change indicates significant inflation. In other words, $2,000,000 in Chicago in the year 1916 would cost $55,734,087.24 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.15% during this same period, inflation in Chicago was lower.
In the year 1916: Pricing changed by 3%, which is below the average yearly change in Chicago during the 1916-2024 time period. Compared to inflation for all items in 1916 (7.69%), inflation in Chicago was much lower.
Below are calculations of equivalent buying power in Chicago, over time, for $2,000,000 beginning in 1916. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1916 | $2,000,000.00 | 3.00% |
1917 | $2,279,483.04 | 13.97% |
1918 | $2,662,358.64 | 16.80% |
1919 | $3,231,017.77 | 21.36% |
1920 | $3,848,142.16 | 19.10% |
1921 | $3,523,424.88 | -8.44% |
1922 | $3,327,948.30 | -5.55% |
1923 | $3,368,336.03 | 1.21% |
1924 | $3,434,571.89 | 1.97% |
1925 | $3,510,500.81 | 2.21% |
1926 | $3,571,890.15 | 1.75% |
1927 | $3,539,579.97 | -0.90% |
1928 | $3,429,725.36 | -3.10% |
1929 | $3,421,647.82 | -0.24% |
1930 | $3,384,491.11 | -1.09% |
1931 | $3,093,699.52 | -8.59% |
1932 | $2,730,210.02 | -11.75% |
1933 | $2,449,111.47 | -10.30% |
1934 | $2,465,266.56 | 0.66% |
1935 | $2,571,890.15 | 4.33% |
1936 | $2,623,586.43 | 2.01% |
1937 | $2,731,825.53 | 4.13% |
1938 | $2,712,439.42 | -0.71% |
1939 | $2,659,127.63 | -1.97% |
1940 | $2,673,667.21 | 0.55% |
1941 | $2,814,216.48 | 5.26% |
1942 | $3,093,699.52 | 9.93% |
1943 | $3,266,558.97 | 5.59% |
1944 | $3,316,639.74 | 1.53% |
1945 | $3,387,722.13 | 2.14% |
1946 | $3,689,822.29 | 8.92% |
1947 | $4,285,945.07 | 16.16% |
1948 | $4,659,127.63 | 8.71% |
1949 | $4,654,281.10 | -0.10% |
1950 | $4,701,130.86 | 1.01% |
1951 | $5,071,082.39 | 7.87% |
1952 | $5,180,937.00 | 2.17% |
1953 | $5,226,171.24 | 0.87% |
1954 | $5,303,715.67 | 1.48% |
1955 | $5,339,256.87 | 0.67% |
1956 | $5,413,570.27 | 1.39% |
1957 | $5,589,660.74 | 3.25% |
1958 | $5,759,289.18 | 3.03% |
1959 | $5,806,138.93 | 0.81% |
1960 | $5,886,914.38 | 1.39% |
1961 | $5,915,993.54 | 0.49% |
1962 | $5,977,382.88 | 1.04% |
1963 | $6,037,156.70 | 1.00% |
1964 | $6,061,389.34 | 0.40% |
1965 | $6,142,164.78 | 1.33% |
1966 | $6,326,332.79 | 3.00% |
1967 | $6,491,114.70 | 2.60% |
1968 | $6,765,751.21 | 4.23% |
1969 | $7,135,702.75 | 5.47% |
1970 | $7,544,426.49 | 5.73% |
1971 | $7,841,680.13 | 3.94% |
1972 | $8,064,620.36 | 2.84% |
1973 | $8,570,274.64 | 6.27% |
1974 | $9,476,575.12 | 10.57% |
1975 | $10,224,555.74 | 7.89% |
1976 | $10,714,054.93 | 4.79% |
1977 | $11,387,722.13 | 6.29% |
1978 | $12,378,029.08 | 8.70% |
1979 | $13,922,455.57 | 12.48% |
1980 | $15,930,533.12 | 14.42% |
1981 | $17,455,573.51 | 9.57% |
1982 | $18,646,203.55 | 6.82% |
1983 | $19,389,337.64 | 3.99% |
1984 | $20,121,163.17 | 3.77% |
1985 | $20,880,452.34 | 3.77% |
1986 | $21,316,639.74 | 2.09% |
1987 | $22,195,476.58 | 4.12% |
1988 | $23,063,004.85 | 3.91% |
1989 | $24,229,402.26 | 5.06% |
1990 | $25,531,502.42 | 5.37% |
1991 | $26,567,043.62 | 4.06% |
1992 | $27,345,718.90 | 2.93% |
1993 | $28,189,014.54 | 3.08% |
1994 | $28,806,138.93 | 2.19% |
1995 | $29,722,132.47 | 3.18% |
1996 | $30,516,962.84 | 2.67% |
1997 | $31,352,180.94 | 2.74% |
1998 | $31,983,844.91 | 2.01% |
1999 | $32,646,203.55 | 2.07% |
2000 | $33,694,668.82 | 3.21% |
2001 | $34,571,890.15 | 2.60% |
2002 | $35,122,778.68 | 1.59% |
2003 | $35,768,982.23 | 1.84% |
2004 | $36,568,659.13 | 2.24% |
2005 | $37,675,282.71 | 3.03% |
2006 | $38,447,495.96 | 2.05% |
2007 | $39,706,155.09 | 3.27% |
2008 | $41,202,374.80 | 3.77% |
2009 | $40,709,870.76 | -1.20% |
2010 | $41,267,285.95 | 1.37% |
2011 | $42,394,345.72 | 2.73% |
2012 | $43,038,077.54 | 1.52% |
2013 | $43,530,565.43 | 1.14% |
2014 | $44,291,001.62 | 1.75% |
2015 | $44,160,064.62 | -0.30% |
2016 | $44,452,681.74 | 0.66% |
2017 | $45,288,142.16 | 1.88% |
2018 | $46,081,987.08 | 1.75% |
2019 | $46,755,541.20 | 1.46% |
2020 | $47,277,431.34 | 1.12% |
2021 | $49,271,550.89 | 4.22% |
2022 | $52,993,101.78 | 7.55% |
2023 | $54,755,961.23 | 3.33% |
2024 | $55,734,087.24 | 1.79%* |
* 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 Chicago, Illinois:
Year | 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 | 10.000 | 10.017 | 10.317 | 11.758 | 13.733 | 16.667 | 19.850 | 18.175 | 17.167 | 17.375 | 17.717 | 18.108 | 18.425 | 18.258 | 17.692 | 17.650 | 17.458 | 15.958 | 14.083 | 12.633 | 12.717 | 13.267 | 13.533 | 14.092 | 13.992 | 13.717 | 13.792 | 14.517 | 15.958 | 16.850 | 17.108 | 17.475 | 19.033 | 22.108 | 24.033 | 24.008 | 24.250 | 26.158 | 26.725 | 26.958 | 27.358 | 27.542 | 27.925 | 28.833 | 29.708 | 29.950 | 30.367 | 30.517 | 30.833 | 31.142 | 31.267 | 31.683 | 32.633 | 33.483 | 34.900 | 36.808 | 38.917 | 40.450 | 41.600 | 44.208 | 48.883 | 52.742 | 55.267 | 58.742 | 63.850 | 71.817 | 82.175 | 90.042 | 96.183 | 100.017 | 103.792 | 107.708 | 109.958 | 114.492 | 118.967 | 124.983 | 131.700 | 137.042 | 141.058 | 145.408 | 148.592 | 153.317 | 157.417 | 161.725 | 164.983 | 168.400 | 173.808 | 178.333 | 181.175 | 184.508 | 188.633 | 194.342 | 198.325 | 204.818 | 212.536 | 209.995 | 212.870 | 218.684 | 222.005 | 224.545 | 228.468 | 227.792 | 229.302 | 233.611 | 237.706 | 241.181 | 243.873 | 254.159 | 273.356 | 282.450 | 287.495 |