According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,307.63% higher in 2023 versus 1920 (a $3,138.32 difference in value).
Between 1920 and 2023: Chicago experienced an average inflation rate of 2.60% per year. This rate of change indicates significant inflation. In other words, $240 in Chicago in the year 1920 would cost $3,378.32 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.67% 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 1920-2023 time period. Compared to inflation for all items in 1920 (15.62%), inflation in Chicago was much higher.
Below are calculations of equivalent buying power in Chicago, over time, for $240 beginning in 1920. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1920 | $240.00 | 19.10% |
| 1921 | $219.75 | -8.44% |
| 1922 | $207.56 | -5.55% |
| 1923 | $210.08 | 1.21% |
| 1924 | $214.21 | 1.97% |
| 1925 | $218.94 | 2.21% |
| 1926 | $222.77 | 1.75% |
| 1927 | $220.76 | -0.90% |
| 1928 | $213.90 | -3.10% |
| 1929 | $213.40 | -0.24% |
| 1930 | $211.08 | -1.09% |
| 1931 | $192.95 | -8.59% |
| 1932 | $170.28 | -11.75% |
| 1933 | $152.75 | -10.30% |
| 1934 | $153.75 | 0.66% |
| 1935 | $160.40 | 4.33% |
| 1936 | $163.63 | 2.01% |
| 1937 | $170.38 | 4.13% |
| 1938 | $169.17 | -0.71% |
| 1939 | $165.84 | -1.97% |
| 1940 | $166.75 | 0.55% |
| 1941 | $175.52 | 5.26% |
| 1942 | $192.95 | 9.93% |
| 1943 | $203.73 | 5.59% |
| 1944 | $206.85 | 1.53% |
| 1945 | $211.28 | 2.14% |
| 1946 | $230.13 | 8.92% |
| 1947 | $267.30 | 16.16% |
| 1948 | $290.58 | 8.71% |
| 1949 | $290.28 | -0.10% |
| 1950 | $293.20 | 1.01% |
| 1951 | $316.27 | 7.87% |
| 1952 | $323.12 | 2.17% |
| 1953 | $325.94 | 0.87% |
| 1954 | $330.78 | 1.48% |
| 1955 | $333.00 | 0.67% |
| 1956 | $337.63 | 1.39% |
| 1957 | $348.61 | 3.25% |
| 1958 | $359.19 | 3.03% |
| 1959 | $362.12 | 0.81% |
| 1960 | $367.15 | 1.39% |
| 1961 | $368.97 | 0.49% |
| 1962 | $372.80 | 1.04% |
| 1963 | $376.52 | 1.00% |
| 1964 | $378.04 | 0.40% |
| 1965 | $383.07 | 1.33% |
| 1966 | $394.56 | 3.00% |
| 1967 | $404.84 | 2.60% |
| 1968 | $421.96 | 4.23% |
| 1969 | $445.04 | 5.47% |
| 1970 | $470.53 | 5.73% |
| 1971 | $489.07 | 3.94% |
| 1972 | $502.97 | 2.84% |
| 1973 | $534.51 | 6.27% |
| 1974 | $591.03 | 10.57% |
| 1975 | $637.68 | 7.89% |
| 1976 | $668.21 | 4.79% |
| 1977 | $710.23 | 6.29% |
| 1978 | $771.99 | 8.70% |
| 1979 | $868.31 | 12.48% |
| 1980 | $993.55 | 14.42% |
| 1981 | $1,088.66 | 9.57% |
| 1982 | $1,162.92 | 6.82% |
| 1983 | $1,209.27 | 3.99% |
| 1984 | $1,254.91 | 3.77% |
| 1985 | $1,302.27 | 3.77% |
| 1986 | $1,329.47 | 2.09% |
| 1987 | $1,384.28 | 4.12% |
| 1988 | $1,438.39 | 3.91% |
| 1989 | $1,511.13 | 5.06% |
| 1990 | $1,592.34 | 5.37% |
| 1991 | $1,656.93 | 4.06% |
| 1992 | $1,705.49 | 2.93% |
| 1993 | $1,758.09 | 3.08% |
| 1994 | $1,796.57 | 2.19% |
| 1995 | $1,853.70 | 3.18% |
| 1996 | $1,903.27 | 2.67% |
| 1997 | $1,955.37 | 2.74% |
| 1998 | $1,994.76 | 2.01% |
| 1999 | $2,036.07 | 2.07% |
| 2000 | $2,101.46 | 3.21% |
| 2001 | $2,156.17 | 2.60% |
| 2002 | $2,190.53 | 1.59% |
| 2003 | $2,230.83 | 1.84% |
| 2004 | $2,280.71 | 2.24% |
| 2005 | $2,349.72 | 3.03% |
| 2006 | $2,397.88 | 2.05% |
| 2007 | $2,476.38 | 3.27% |
| 2008 | $2,569.70 | 3.77% |
| 2009 | $2,538.98 | -1.20% |
| 2010 | $2,573.75 | 1.37% |
| 2011 | $2,644.04 | 2.73% |
| 2012 | $2,684.19 | 1.52% |
| 2013 | $2,714.90 | 1.14% |
| 2014 | $2,762.33 | 1.75% |
| 2015 | $2,754.16 | -0.30% |
| 2016 | $2,772.41 | 0.66% |
| 2017 | $2,824.52 | 1.88% |
| 2018 | $2,874.03 | 1.75% |
| 2019 | $2,916.04 | 1.46% |
| 2020 | $2,948.59 | 1.12% |
| 2021 | $3,072.96 | 4.22% |
| 2022 | $3,305.06 | 7.55% |
| 2023 | $3,378.32 | 2.22%* |
* 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 |
| 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 | 279.416 |