According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,348.34% higher in 2024 versus 1920 (a $782,035.77 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, $58,000 in Chicago in the year 1920 would cost $840,035.77 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 $58,000 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 | $58,000.00 | 19.10% |
1921 | $53,105.79 | -8.44% |
1922 | $50,159.53 | -5.55% |
1923 | $50,768.26 | 1.21% |
1924 | $51,766.58 | 1.97% |
1925 | $52,911.00 | 2.21% |
1926 | $53,836.27 | 1.75% |
1927 | $53,349.29 | -0.90% |
1928 | $51,693.53 | -3.10% |
1929 | $51,571.79 | -0.24% |
1930 | $51,011.75 | -1.09% |
1931 | $46,628.88 | -8.59% |
1932 | $41,150.29 | -11.75% |
1933 | $36,913.52 | -10.30% |
1934 | $37,157.01 | 0.66% |
1935 | $38,764.06 | 4.33% |
1936 | $39,543.24 | 2.01% |
1937 | $41,174.64 | 4.13% |
1938 | $40,882.45 | -0.71% |
1939 | $40,078.93 | -1.97% |
1940 | $40,298.07 | 0.55% |
1941 | $42,416.46 | 5.26% |
1942 | $46,628.88 | 9.93% |
1943 | $49,234.26 | 5.59% |
1944 | $49,989.08 | 1.53% |
1945 | $51,060.45 | 2.14% |
1946 | $55,613.77 | 8.92% |
1947 | $64,598.66 | 16.16% |
1948 | $70,223.34 | 8.71% |
1949 | $70,150.29 | -0.10% |
1950 | $70,856.42 | 1.01% |
1951 | $76,432.41 | 7.87% |
1952 | $78,088.16 | 2.17% |
1953 | $78,769.94 | 0.87% |
1954 | $79,938.71 | 1.48% |
1955 | $80,474.39 | 0.67% |
1956 | $81,594.46 | 1.39% |
1957 | $84,248.53 | 3.25% |
1958 | $86,805.21 | 3.03% |
1959 | $87,511.34 | 0.81% |
1960 | $88,728.80 | 1.39% |
1961 | $89,167.09 | 0.49% |
1962 | $90,092.36 | 1.04% |
1963 | $90,993.28 | 1.00% |
1964 | $91,358.52 | 0.40% |
1965 | $92,575.99 | 1.33% |
1966 | $95,351.81 | 3.00% |
1967 | $97,835.43 | 2.60% |
1968 | $101,974.81 | 4.23% |
1969 | $107,550.80 | 5.47% |
1970 | $113,711.17 | 5.73% |
1971 | $118,191.44 | 3.94% |
1972 | $121,551.64 | 2.84% |
1973 | $129,172.96 | 6.27% |
1974 | $142,832.91 | 10.57% |
1975 | $154,106.63 | 7.89% |
1976 | $161,484.47 | 4.79% |
1977 | $171,638.12 | 6.29% |
1978 | $186,564.23 | 8.70% |
1979 | $209,842.15 | 12.48% |
1980 | $240,108.31 | 14.42% |
1981 | $263,094.04 | 9.57% |
1982 | $281,039.46 | 6.82% |
1983 | $292,240.13 | 3.99% |
1984 | $303,270.36 | 3.77% |
1985 | $314,714.53 | 3.77% |
1986 | $321,288.83 | 2.09% |
1987 | $334,534.84 | 4.12% |
1988 | $347,610.41 | 3.91% |
1989 | $365,190.60 | 5.06% |
1990 | $384,816.12 | 5.37% |
1991 | $400,424.01 | 4.06% |
1992 | $412,160.37 | 2.93% |
1993 | $424,870.70 | 3.08% |
1994 | $434,172.12 | 2.19% |
1995 | $447,978.17 | 3.18% |
1996 | $459,958.02 | 2.67% |
1997 | $472,546.60 | 2.74% |
1998 | $482,067.17 | 2.01% |
1999 | $492,050.38 | 2.07% |
2000 | $507,853.06 | 3.21% |
2001 | $521,074.73 | 2.60% |
2002 | $529,377.83 | 1.59% |
2003 | $539,117.55 | 1.84% |
2004 | $551,170.45 | 2.24% |
2005 | $567,849.71 | 3.03% |
2006 | $579,488.66 | 2.05% |
2007 | $598,459.44 | 3.27% |
2008 | $621,010.77 | 3.77% |
2009 | $613,587.65 | -1.20% |
2010 | $621,989.13 | 1.37% |
2011 | $638,976.41 | 2.73% |
2012 | $648,678.87 | 1.52% |
2013 | $656,101.75 | 1.14% |
2014 | $667,563.20 | 1.75% |
2015 | $665,589.69 | -0.30% |
2016 | $670,000.08 | 0.66% |
2017 | $682,592.31 | 1.88% |
2018 | $694,557.30 | 1.75% |
2019 | $704,709.25 | 1.46% |
2020 | $712,575.29 | 1.12% |
2021 | $742,631.07 | 4.22% |
2022 | $798,723.06 | 7.55% |
2023 | $825,293.25 | 3.33% |
2024 | $840,035.77 | 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 |