Chicago, Illinois prices: $1,200 in 1920 $16,386.19 in 2022

Inflation in Illinois

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Prices in Chicago, 1920-2022 ($1,200)

According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,265.52% higher in 2022 versus 1920 (a $15,186.19 difference in value).

Between 1920 and 2022: Chicago experienced an average inflation rate of 2.60% per year. This rate of change indicates significant inflation. In other words, $1,200 in Chicago in the year 1920 would cost $16,386.19 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.65% during this same period, inflation in Chicago was lower.

In the year 1920: Pricing changed by 19.10%, which is significantly above the average yearly change in Chicago during the 1920-2022 time period. Compared to inflation for all items in 1920 (15.62%), inflation in Chicago was much higher.

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
Bread · Financial services · Baby food · Admission to sporting events · More

Buying power of $1,200.00 since 1920

Below are calculations of equivalent buying power in Chicago, over time, for $1,200 beginning in 1920. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1920$1,200.0019.10%
1921$1,098.74-8.44%
1922$1,037.78-5.55%
1923$1,050.381.21%
1924$1,071.031.97%
1925$1,094.712.21%
1926$1,113.851.75%
1927$1,103.78-0.90%
1928$1,069.52-3.10%
1929$1,067.00-0.24%
1930$1,055.42-1.09%
1931$964.74-8.59%
1932$851.39-11.75%
1933$763.73-10.30%
1934$768.770.66%
1935$802.024.33%
1936$818.142.01%
1937$851.894.13%
1938$845.84-0.71%
1939$829.22-1.97%
1940$833.750.55%
1941$877.585.26%
1942$964.749.93%
1943$1,018.645.59%
1944$1,034.261.53%
1945$1,056.422.14%
1946$1,150.638.92%
1947$1,336.5216.16%
1948$1,452.908.71%
1949$1,451.39-0.10%
1950$1,465.991.01%
1951$1,581.367.87%
1952$1,615.622.17%
1953$1,629.720.87%
1954$1,653.901.48%
1955$1,664.990.67%
1956$1,688.161.39%
1957$1,743.073.25%
1958$1,795.973.03%
1959$1,810.580.81%
1960$1,835.771.39%
1961$1,844.840.49%
1962$1,863.981.04%
1963$1,882.621.00%
1964$1,890.180.40%
1965$1,915.371.33%
1966$1,972.803.00%
1967$2,024.182.60%
1968$2,109.824.23%
1969$2,225.195.47%
1970$2,352.645.73%
1971$2,445.343.94%
1972$2,514.862.84%
1973$2,672.546.27%
1974$2,955.1610.57%
1975$3,188.417.89%
1976$3,341.064.79%
1977$3,551.136.29%
1978$3,859.958.70%
1979$4,341.5612.48%
1980$4,967.7614.42%
1981$5,443.329.57%
1982$5,814.616.82%
1983$6,046.353.99%
1984$6,274.563.77%
1985$6,511.343.77%
1986$6,647.362.09%
1987$6,921.414.12%
1988$7,191.943.91%
1989$7,555.675.06%
1990$7,961.715.37%
1991$8,284.634.06%
1992$8,527.462.93%
1993$8,790.433.08%
1994$8,982.872.19%
1995$9,268.513.18%
1996$9,516.372.67%
1997$9,776.832.74%
1998$9,973.802.01%
1999$10,180.352.07%
2000$10,507.303.21%
2001$10,780.862.60%
2002$10,952.641.59%
2003$11,154.161.84%
2004$11,403.532.24%
2005$11,748.613.03%
2006$11,989.422.05%
2007$12,381.923.27%
2008$12,848.503.77%
2009$12,694.92-1.20%
2010$12,868.741.37%
2011$13,220.202.73%
2012$13,420.941.52%
2013$13,574.521.14%
2014$13,811.651.75%
2015$13,770.82-0.30%
2016$13,862.070.66%
2017$14,122.601.88%
2018$14,370.151.75%
2019$14,580.191.46%
2020$14,742.941.12%
2021$15,364.784.22%
2022$16,386.196.65%*
* Not final. See inflation summary for latest details.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Chicago, Illinois:

Year1914191519161917191819191920192119221923192419251926192719281929193019311932193319341935193619371938193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI10.00010.01710.31711.75813.73316.66719.85018.17517.16717.37517.71718.10818.42518.25817.69217.65017.45815.95814.08312.63312.71713.26713.53314.09213.99213.71713.79214.51715.95816.85017.10817.47519.03322.10824.03324.00824.25026.15826.72526.95827.35827.54227.92528.83329.70829.95030.36730.51730.83331.14231.26731.68332.63333.48334.90036.80838.91740.45041.60044.20848.88352.74255.26758.74263.85071.81782.17590.04296.183100.017103.792107.708109.958114.492118.967124.983131.700137.042141.058145.408148.592153.317157.417161.725164.983168.400173.808178.333181.175184.508188.633194.342198.325204.818212.536209.995212.870218.684222.005224.545228.468227.792229.302233.611237.706241.181243.873254.159271.055

Adjust Chicago prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1920 * 1920 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Chicago, Illinois was 19.850 in the year 1920 and 271.055 in 2022:

271.055 / 19.850 * $1,200 = $16,386.19

Therefore, according to U.S. Bureau of Labor Statistics, $1,200 in 1920 has the same "purchasing power" as $16,386.19 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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