According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 2,686.70% higher in 2024 versus 1916 (a $236,429.98 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, $8,800 in Chicago in the year 1916 would cost $245,229.98 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 $8,800 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 | $8,800.00 | 3.00% |
1917 | $10,029.73 | 13.97% |
1918 | $11,714.38 | 16.80% |
1919 | $14,216.48 | 21.36% |
1920 | $16,931.83 | 19.10% |
1921 | $15,503.07 | -8.44% |
1922 | $14,642.97 | -5.55% |
1923 | $14,820.68 | 1.21% |
1924 | $15,112.12 | 1.97% |
1925 | $15,446.20 | 2.21% |
1926 | $15,716.32 | 1.75% |
1927 | $15,574.15 | -0.90% |
1928 | $15,090.79 | -3.10% |
1929 | $15,055.25 | -0.24% |
1930 | $14,891.76 | -1.09% |
1931 | $13,612.28 | -8.59% |
1932 | $12,012.92 | -11.75% |
1933 | $10,776.09 | -10.30% |
1934 | $10,847.17 | 0.66% |
1935 | $11,316.32 | 4.33% |
1936 | $11,543.78 | 2.01% |
1937 | $12,020.03 | 4.13% |
1938 | $11,934.73 | -0.71% |
1939 | $11,700.16 | -1.97% |
1940 | $11,764.14 | 0.55% |
1941 | $12,382.55 | 5.26% |
1942 | $13,612.28 | 9.93% |
1943 | $14,372.86 | 5.59% |
1944 | $14,593.21 | 1.53% |
1945 | $14,905.98 | 2.14% |
1946 | $16,235.22 | 8.92% |
1947 | $18,858.16 | 16.16% |
1948 | $20,500.16 | 8.71% |
1949 | $20,478.84 | -0.10% |
1950 | $20,684.98 | 1.01% |
1951 | $22,312.76 | 7.87% |
1952 | $22,796.12 | 2.17% |
1953 | $22,995.15 | 0.87% |
1954 | $23,336.35 | 1.48% |
1955 | $23,492.73 | 0.67% |
1956 | $23,819.71 | 1.39% |
1957 | $24,594.51 | 3.25% |
1958 | $25,340.87 | 3.03% |
1959 | $25,547.01 | 0.81% |
1960 | $25,902.42 | 1.39% |
1961 | $26,030.37 | 0.49% |
1962 | $26,300.48 | 1.04% |
1963 | $26,563.49 | 1.00% |
1964 | $26,670.11 | 0.40% |
1965 | $27,025.53 | 1.33% |
1966 | $27,835.86 | 3.00% |
1967 | $28,560.90 | 2.60% |
1968 | $29,769.31 | 4.23% |
1969 | $31,397.09 | 5.47% |
1970 | $33,195.48 | 5.73% |
1971 | $34,503.39 | 3.94% |
1972 | $35,484.33 | 2.84% |
1973 | $37,709.21 | 6.27% |
1974 | $41,696.93 | 10.57% |
1975 | $44,988.05 | 7.89% |
1976 | $47,141.84 | 4.79% |
1977 | $50,105.98 | 6.29% |
1978 | $54,463.33 | 8.70% |
1979 | $61,258.80 | 12.48% |
1980 | $70,094.35 | 14.42% |
1981 | $76,804.52 | 9.57% |
1982 | $82,043.30 | 6.82% |
1983 | $85,313.09 | 3.99% |
1984 | $88,533.12 | 3.77% |
1985 | $91,873.99 | 3.77% |
1986 | $93,793.21 | 2.09% |
1987 | $97,660.10 | 4.12% |
1988 | $101,477.22 | 3.91% |
1989 | $106,609.37 | 5.06% |
1990 | $112,338.61 | 5.37% |
1991 | $116,894.99 | 4.06% |
1992 | $120,321.16 | 2.93% |
1993 | $124,031.66 | 3.08% |
1994 | $126,747.01 | 2.19% |
1995 | $130,777.38 | 3.18% |
1996 | $134,274.64 | 2.67% |
1997 | $137,949.60 | 2.74% |
1998 | $140,728.92 | 2.01% |
1999 | $143,643.30 | 2.07% |
2000 | $148,256.54 | 3.21% |
2001 | $152,116.32 | 2.60% |
2002 | $154,540.23 | 1.59% |
2003 | $157,383.52 | 1.84% |
2004 | $160,902.10 | 2.24% |
2005 | $165,771.24 | 3.03% |
2006 | $169,168.98 | 2.05% |
2007 | $174,707.08 | 3.27% |
2008 | $181,290.45 | 3.77% |
2009 | $179,123.43 | -1.20% |
2010 | $181,576.06 | 1.37% |
2011 | $186,535.12 | 2.73% |
2012 | $189,367.54 | 1.52% |
2013 | $191,534.49 | 1.14% |
2014 | $194,880.41 | 1.75% |
2015 | $194,304.28 | -0.30% |
2016 | $195,591.80 | 0.66% |
2017 | $199,267.83 | 1.88% |
2018 | $202,760.74 | 1.75% |
2019 | $205,724.38 | 1.46% |
2020 | $208,020.70 | 1.12% |
2021 | $216,794.82 | 4.22% |
2022 | $233,169.65 | 7.55% |
2023 | $240,926.23 | 3.33% |
2024 | $245,229.98 | 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 |