According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,348.34% higher in 2024 versus 1920 (a $11,460,869.02 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, $850,000 in Chicago in the year 1920 would cost $12,310,869.02 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 $850,000 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 | $850,000.00 | 19.10% |
1921 | $778,274.56 | -8.44% |
1922 | $735,096.56 | -5.55% |
1923 | $744,017.63 | 1.21% |
1924 | $758,648.19 | 1.97% |
1925 | $775,419.82 | 2.21% |
1926 | $788,979.85 | 1.75% |
1927 | $781,842.99 | -0.90% |
1928 | $757,577.67 | -3.10% |
1929 | $755,793.45 | -0.24% |
1930 | $747,586.06 | -1.09% |
1931 | $683,354.32 | -8.59% |
1932 | $603,064.65 | -11.75% |
1933 | $540,973.97 | -10.30% |
1934 | $544,542.40 | 0.66% |
1935 | $568,094.04 | 4.33% |
1936 | $579,513.01 | 2.01% |
1937 | $603,421.49 | 4.13% |
1938 | $599,139.38 | -0.71% |
1939 | $587,363.56 | -1.97% |
1940 | $590,575.15 | 0.55% |
1941 | $621,620.49 | 5.26% |
1942 | $683,354.32 | 9.93% |
1943 | $721,536.52 | 5.59% |
1944 | $732,598.66 | 1.53% |
1945 | $748,299.75 | 2.14% |
1946 | $815,029.39 | 8.92% |
1947 | $946,704.45 | 16.16% |
1948 | $1,029,135.18 | 8.71% |
1949 | $1,028,064.65 | -0.10% |
1950 | $1,038,413.10 | 1.01% |
1951 | $1,120,130.14 | 7.87% |
1952 | $1,144,395.47 | 2.17% |
1953 | $1,154,387.07 | 0.87% |
1954 | $1,171,515.53 | 1.48% |
1955 | $1,179,366.08 | 0.67% |
1956 | $1,195,780.86 | 1.39% |
1957 | $1,234,676.74 | 3.25% |
1958 | $1,272,145.26 | 3.03% |
1959 | $1,282,493.70 | 0.81% |
1960 | $1,300,335.85 | 1.39% |
1961 | $1,306,759.03 | 0.49% |
1962 | $1,320,319.06 | 1.04% |
1963 | $1,333,522.25 | 1.00% |
1964 | $1,338,874.90 | 0.40% |
1965 | $1,356,717.04 | 1.33% |
1966 | $1,397,397.15 | 3.00% |
1967 | $1,433,795.13 | 2.60% |
1968 | $1,494,458.44 | 4.23% |
1969 | $1,576,175.48 | 5.47% |
1970 | $1,666,456.76 | 5.73% |
1971 | $1,732,115.87 | 3.94% |
1972 | $1,781,360.20 | 2.84% |
1973 | $1,893,052.06 | 6.27% |
1974 | $2,093,240.97 | 10.57% |
1975 | $2,258,459.28 | 7.89% |
1976 | $2,366,582.70 | 4.79% |
1977 | $2,515,386.23 | 6.29% |
1978 | $2,734,130.98 | 8.70% |
1979 | $3,075,272.88 | 12.48% |
1980 | $3,518,828.72 | 14.42% |
1981 | $3,855,688.50 | 9.57% |
1982 | $4,118,681.78 | 6.82% |
1983 | $4,282,829.55 | 3.99% |
1984 | $4,444,479.43 | 3.77% |
1985 | $4,612,195.63 | 3.77% |
1986 | $4,708,543.24 | 2.09% |
1987 | $4,902,665.83 | 4.12% |
1988 | $5,094,290.51 | 3.91% |
1989 | $5,351,931.15 | 5.06% |
1990 | $5,639,546.60 | 5.37% |
1991 | $5,868,282.96 | 4.06% |
1992 | $6,040,281.28 | 2.93% |
1993 | $6,226,553.32 | 3.08% |
1994 | $6,362,867.34 | 2.19% |
1995 | $6,565,197.31 | 3.18% |
1996 | $6,740,764.06 | 2.67% |
1997 | $6,925,251.89 | 2.74% |
1998 | $7,064,777.50 | 2.01% |
1999 | $7,211,083.12 | 2.07% |
2000 | $7,442,674.22 | 3.21% |
2001 | $7,636,439.97 | 2.60% |
2002 | $7,758,123.43 | 1.59% |
2003 | $7,900,860.62 | 1.84% |
2004 | $8,077,497.90 | 2.24% |
2005 | $8,321,935.35 | 3.03% |
2006 | $8,492,506.30 | 2.05% |
2007 | $8,770,526.24 | 3.27% |
2008 | $9,101,019.94 | 3.77% |
2009 | $8,992,232.79 | -1.20% |
2010 | $9,115,357.89 | 1.37% |
2011 | $9,364,309.40 | 2.73% |
2012 | $9,506,500.63 | 1.52% |
2013 | $9,615,284.21 | 1.14% |
2014 | $9,783,253.78 | 1.75% |
2015 | $9,754,331.65 | -0.30% |
2016 | $9,818,966.62 | 0.66% |
2017 | $10,003,507.98 | 1.88% |
2018 | $10,178,857.05 | 1.75% |
2019 | $10,327,635.60 | 1.46% |
2020 | $10,442,913.73 | 1.12% |
2021 | $10,883,386.44 | 4.22% |
2022 | $11,705,424.22 | 7.55% |
2023 | $12,094,814.86 | 3.33% |
2024 | $12,310,869.02 | 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 |