Chicago, Illinois prices: $87,000 in 1916 $2,293,828.44 in 2022

Inflation in Illinois

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Prices in Chicago, 1916-2022 ($87,000)

According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 2,536.58% higher in 2022 versus 1916 (a $2,206,828.44 difference in value).

Between 1916 and 2022: Chicago experienced an average inflation rate of 3.13% per year. This rate of change indicates significant inflation. In other words, $87,000 in Chicago in the year 1916 would cost $2,293,828.44 in 2022 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 1916-2022 time period. Compared to inflation for all items in 1916 (7.69%), inflation in Chicago was much lower.

Price Inflation in Chicago, Illinois since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (21.36%), 1920 (19.10%), and 1918 (16.80%).

View price changes for other categories
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Buying power of $87,000.00 since 1916

Below are calculations of equivalent buying power in Chicago, over time, for $87,000 beginning in 1916. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1916$87,000.003.00%
1917$99,157.5113.97%
1918$115,812.6016.80%
1919$140,549.2721.36%
1920$167,394.1819.10%
1921$153,268.98-8.44%
1922$144,765.75-5.55%
1923$146,522.621.21%
1924$149,403.881.97%
1925$152,706.792.21%
1926$155,377.221.75%
1927$153,971.73-0.90%
1928$149,193.05-3.10%
1929$148,841.68-0.24%
1930$147,225.36-1.09%
1931$134,575.93-8.59%
1932$118,764.14-11.75%
1933$106,536.35-10.30%
1934$107,239.100.66%
1935$111,877.224.33%
1936$114,126.012.01%
1937$118,834.414.13%
1938$117,991.11-0.71%
1939$115,672.05-1.97%
1940$116,304.520.55%
1941$122,418.425.26%
1942$134,575.939.93%
1943$142,095.325.59%
1944$144,273.831.53%
1945$147,365.912.14%
1946$160,507.278.92%
1947$186,438.6116.16%
1948$202,672.058.71%
1949$202,461.23-0.10%
1950$204,499.191.01%
1951$220,592.087.87%
1952$225,370.762.17%
1953$227,338.450.87%
1954$230,711.631.48%
1955$232,257.670.67%
1956$235,490.311.39%
1957$243,150.243.25%
1958$250,529.083.03%
1959$252,567.040.81%
1960$256,080.781.39%
1961$257,345.720.49%
1962$260,016.161.04%
1963$262,616.321.00%
1964$263,670.440.40%
1965$267,184.171.33%
1966$275,195.483.00%
1967$282,363.492.60%
1968$294,310.184.23%
1969$310,403.075.47%
1970$328,182.555.73%
1971$341,113.093.94%
1972$350,810.992.84%
1973$372,806.956.27%
1974$412,231.0210.57%
1975$444,768.177.89%
1976$466,061.394.79%
1977$495,365.916.29%
1978$538,444.268.70%
1979$605,626.8212.48%
1980$692,978.1914.42%
1981$759,317.459.57%
1982$811,109.856.82%
1983$843,436.193.99%
1984$875,270.603.77%
1985$908,299.683.77%
1986$927,273.832.09%
1987$965,503.234.12%
1988$1,003,240.713.91%
1989$1,053,979.005.06%
1990$1,110,620.365.37%
1991$1,155,666.404.06%
1992$1,189,538.772.93%
1993$1,226,222.133.08%
1994$1,253,067.042.19%
1995$1,292,912.763.18%
1996$1,327,487.882.67%
1997$1,363,819.872.74%
1998$1,391,297.252.01%
1999$1,420,109.852.07%
2000$1,465,718.093.21%
2001$1,503,877.222.60%
2002$1,527,840.871.59%
2003$1,555,950.731.84%
2004$1,590,736.672.24%
2005$1,638,874.803.03%
2006$1,672,466.072.05%
2007$1,727,217.753.27%
2008$1,792,303.303.77%
2009$1,770,879.38-1.20%
2010$1,795,126.941.37%
2011$1,844,154.042.73%
2012$1,872,156.371.52%
2013$1,893,579.601.14%
2014$1,926,658.571.75%
2015$1,920,962.81-0.30%
2016$1,933,691.660.66%
2017$1,970,034.181.88%
2018$2,004,566.441.75%
2019$2,033,866.041.46%
2020$2,056,568.261.12%
2021$2,143,312.464.22%
2022$2,293,828.447.02%*

* 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:

Year1914191519161917191819191920192119221923192419251926192719281929193019311932193319341935193619371938193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI10.00010.01710.31711.75813.73316.66719.85018.17517.16717.37517.71718.10818.42518.25817.69217.65017.45815.95814.08312.63312.71713.26713.53314.09213.99213.71713.79214.51715.95816.85017.10817.47519.03322.10824.03324.00824.25026.15826.72526.95827.35827.54227.92528.83329.70829.95030.36730.51730.83331.14231.26731.68332.63333.48334.90036.80838.91740.45041.60044.20848.88352.74255.26758.74263.85071.81782.17590.04296.183100.017103.792107.708109.958114.492118.967124.983131.700137.042141.058145.408148.592153.317157.417161.725164.983168.400173.808178.333181.175184.508188.633194.342198.325204.818212.536209.995212.870218.684222.005224.545228.468227.792229.302233.611237.706241.181243.873254.159272.008

Adjust Chicago prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1916 * 1916 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Chicago, Illinois was 10.317 in the year 1916 and 272.008 in 2022:

272.008 / 10.317 * $87,000 = $2,293,828.44

Therefore, according to U.S. Bureau of Labor Statistics, $87,000 in 1916 has the same "purchasing power" as $2,293,828.44 in 2022 (in the CPI category of Chicago, Illinois).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Chicago, Illinois in 1914. In addition to Chicago, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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