According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,348.34% higher in 2024 versus 1920 (a $498,884.89 difference in value).
Between 1920 and 2024: Chicago experienced an average inflation rate of 2.60% per year. This rate of change indicates significant inflation. In other words, $37,000 in Chicago in the year 1920 would cost $535,884.89 in 2024 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 1920-2024 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 $37,000 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 | $37,000.00 | 19.10% |
1921 | $33,877.83 | -8.44% |
1922 | $31,998.32 | -5.55% |
1923 | $32,386.65 | 1.21% |
1924 | $33,023.51 | 1.97% |
1925 | $33,753.57 | 2.21% |
1926 | $34,343.83 | 1.75% |
1927 | $34,033.17 | -0.90% |
1928 | $32,976.91 | -3.10% |
1929 | $32,899.24 | -0.24% |
1930 | $32,541.98 | -1.09% |
1931 | $29,746.01 | -8.59% |
1932 | $26,251.05 | -11.75% |
1933 | $23,548.28 | -10.30% |
1934 | $23,703.61 | 0.66% |
1935 | $24,728.80 | 4.33% |
1936 | $25,225.86 | 2.01% |
1937 | $26,266.58 | 4.13% |
1938 | $26,080.18 | -0.71% |
1939 | $25,567.59 | -1.97% |
1940 | $25,707.39 | 0.55% |
1941 | $27,058.77 | 5.26% |
1942 | $29,746.01 | 9.93% |
1943 | $31,408.06 | 5.59% |
1944 | $31,889.59 | 1.53% |
1945 | $32,573.05 | 2.14% |
1946 | $35,477.75 | 8.92% |
1947 | $41,209.49 | 16.16% |
1948 | $44,797.65 | 8.71% |
1949 | $44,751.05 | -0.10% |
1950 | $45,201.51 | 1.01% |
1951 | $48,758.61 | 7.87% |
1952 | $49,814.86 | 2.17% |
1953 | $50,249.79 | 0.87% |
1954 | $50,995.38 | 1.48% |
1955 | $51,337.11 | 0.67% |
1956 | $52,051.64 | 1.39% |
1957 | $53,744.75 | 3.25% |
1958 | $55,375.73 | 3.03% |
1959 | $55,826.20 | 0.81% |
1960 | $56,602.85 | 1.39% |
1961 | $56,882.45 | 0.49% |
1962 | $57,472.71 | 1.04% |
1963 | $58,047.44 | 1.00% |
1964 | $58,280.44 | 0.40% |
1965 | $59,057.09 | 1.33% |
1966 | $60,827.88 | 3.00% |
1967 | $62,412.26 | 2.60% |
1968 | $65,052.90 | 4.23% |
1969 | $68,609.99 | 5.47% |
1970 | $72,539.88 | 5.73% |
1971 | $75,397.98 | 3.94% |
1972 | $77,541.56 | 2.84% |
1973 | $82,403.44 | 6.27% |
1974 | $91,117.55 | 10.57% |
1975 | $98,309.40 | 7.89% |
1976 | $103,015.95 | 4.79% |
1977 | $109,493.28 | 6.29% |
1978 | $119,015.11 | 8.70% |
1979 | $133,864.82 | 12.48% |
1980 | $153,172.54 | 14.42% |
1981 | $167,835.85 | 9.57% |
1982 | $179,283.80 | 6.82% |
1983 | $186,429.05 | 3.99% |
1984 | $193,465.58 | 3.77% |
1985 | $200,766.16 | 3.77% |
1986 | $204,960.12 | 2.09% |
1987 | $213,410.16 | 4.12% |
1988 | $221,751.47 | 3.91% |
1989 | $232,966.41 | 5.06% |
1990 | $245,486.15 | 5.37% |
1991 | $255,442.91 | 4.06% |
1992 | $262,929.89 | 2.93% |
1993 | $271,038.20 | 3.08% |
1994 | $276,971.87 | 2.19% |
1995 | $285,779.18 | 3.18% |
1996 | $293,421.49 | 2.67% |
1997 | $301,452.14 | 2.74% |
1998 | $307,525.61 | 2.01% |
1999 | $313,894.21 | 2.07% |
2000 | $323,975.23 | 3.21% |
2001 | $332,409.74 | 2.60% |
2002 | $337,706.55 | 1.59% |
2003 | $343,919.82 | 1.84% |
2004 | $351,608.73 | 2.24% |
2005 | $362,248.95 | 3.03% |
2006 | $369,673.80 | 2.05% |
2007 | $381,775.85 | 3.27% |
2008 | $396,162.04 | 3.77% |
2009 | $391,426.60 | -1.20% |
2010 | $396,786.17 | 1.37% |
2011 | $407,622.88 | 2.73% |
2012 | $413,812.38 | 1.52% |
2013 | $418,547.67 | 1.14% |
2014 | $425,859.28 | 1.75% |
2015 | $424,600.32 | -0.30% |
2016 | $427,413.84 | 0.66% |
2017 | $435,446.82 | 1.88% |
2018 | $443,079.66 | 1.75% |
2019 | $449,555.90 | 1.46% |
2020 | $454,573.89 | 1.12% |
2021 | $473,747.41 | 4.22% |
2022 | $509,530.23 | 7.55% |
2023 | $526,480.18 | 3.33% |
2024 | $535,884.89 | 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 |