According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 2,686.70% higher in 2024 versus 1916 (a $913,479.48 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, $34,000 in Chicago in the year 1916 would cost $947,479.48 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 $34,000 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 | $34,000.00 | 3.00% |
1917 | $38,751.21 | 13.97% |
1918 | $45,260.10 | 16.80% |
1919 | $54,927.30 | 21.36% |
1920 | $65,418.42 | 19.10% |
1921 | $59,898.22 | -8.44% |
1922 | $56,575.12 | -5.55% |
1923 | $57,261.71 | 1.21% |
1924 | $58,387.72 | 1.97% |
1925 | $59,678.51 | 2.21% |
1926 | $60,722.13 | 1.75% |
1927 | $60,172.86 | -0.90% |
1928 | $58,305.33 | -3.10% |
1929 | $58,168.01 | -0.24% |
1930 | $57,536.35 | -1.09% |
1931 | $52,592.89 | -8.59% |
1932 | $46,413.57 | -11.75% |
1933 | $41,634.89 | -10.30% |
1934 | $41,909.53 | 0.66% |
1935 | $43,722.13 | 4.33% |
1936 | $44,600.97 | 2.01% |
1937 | $46,441.03 | 4.13% |
1938 | $46,111.47 | -0.71% |
1939 | $45,205.17 | -1.97% |
1940 | $45,452.34 | 0.55% |
1941 | $47,841.68 | 5.26% |
1942 | $52,592.89 | 9.93% |
1943 | $55,531.50 | 5.59% |
1944 | $56,382.88 | 1.53% |
1945 | $57,591.28 | 2.14% |
1946 | $62,726.98 | 8.92% |
1947 | $72,861.07 | 16.16% |
1948 | $79,205.17 | 8.71% |
1949 | $79,122.78 | -0.10% |
1950 | $79,919.22 | 1.01% |
1951 | $86,208.40 | 7.87% |
1952 | $88,075.93 | 2.17% |
1953 | $88,844.91 | 0.87% |
1954 | $90,163.17 | 1.48% |
1955 | $90,767.37 | 0.67% |
1956 | $92,030.69 | 1.39% |
1957 | $95,024.23 | 3.25% |
1958 | $97,907.92 | 3.03% |
1959 | $98,704.36 | 0.81% |
1960 | $100,077.54 | 1.39% |
1961 | $100,571.89 | 0.49% |
1962 | $101,615.51 | 1.04% |
1963 | $102,631.66 | 1.00% |
1964 | $103,043.62 | 0.40% |
1965 | $104,416.80 | 1.33% |
1966 | $107,547.66 | 3.00% |
1967 | $110,348.95 | 2.60% |
1968 | $115,017.77 | 4.23% |
1969 | $121,306.95 | 5.47% |
1970 | $128,255.25 | 5.73% |
1971 | $133,308.56 | 3.94% |
1972 | $137,098.55 | 2.84% |
1973 | $145,694.67 | 6.27% |
1974 | $161,101.78 | 10.57% |
1975 | $173,817.45 | 7.89% |
1976 | $182,138.93 | 4.79% |
1977 | $193,591.28 | 6.29% |
1978 | $210,426.49 | 8.70% |
1979 | $236,681.74 | 12.48% |
1980 | $270,819.06 | 14.42% |
1981 | $296,744.75 | 9.57% |
1982 | $316,985.46 | 6.82% |
1983 | $329,618.74 | 3.99% |
1984 | $342,059.77 | 3.77% |
1985 | $354,967.69 | 3.77% |
1986 | $362,382.88 | 2.09% |
1987 | $377,323.10 | 4.12% |
1988 | $392,071.08 | 3.91% |
1989 | $411,899.84 | 5.06% |
1990 | $434,035.54 | 5.37% |
1991 | $451,639.74 | 4.06% |
1992 | $464,877.22 | 2.93% |
1993 | $479,213.25 | 3.08% |
1994 | $489,704.36 | 2.19% |
1995 | $505,276.25 | 3.18% |
1996 | $518,788.37 | 2.67% |
1997 | $532,987.08 | 2.74% |
1998 | $543,725.36 | 2.01% |
1999 | $554,985.46 | 2.07% |
2000 | $572,809.37 | 3.21% |
2001 | $587,722.13 | 2.60% |
2002 | $597,087.24 | 1.59% |
2003 | $608,072.70 | 1.84% |
2004 | $621,667.21 | 2.24% |
2005 | $640,479.81 | 3.03% |
2006 | $653,607.43 | 2.05% |
2007 | $675,004.64 | 3.27% |
2008 | $700,440.37 | 3.77% |
2009 | $692,067.80 | -1.20% |
2010 | $701,543.86 | 1.37% |
2011 | $720,703.88 | 2.73% |
2012 | $731,647.32 | 1.52% |
2013 | $740,019.61 | 1.14% |
2014 | $752,947.03 | 1.75% |
2015 | $750,721.10 | -0.30% |
2016 | $755,695.59 | 0.66% |
2017 | $769,898.42 | 1.88% |
2018 | $783,393.78 | 1.75% |
2019 | $794,844.20 | 1.46% |
2020 | $803,716.33 | 1.12% |
2021 | $837,616.37 | 4.22% |
2022 | $900,882.73 | 7.55% |
2023 | $930,851.34 | 3.33% |
2024 | $947,479.48 | 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 |