According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,574.73% higher in 2024 versus 1922 (a $913,342.33 difference in value).
Between 1922 and 2024: Chicago experienced an average inflation rate of 2.80% per year. This rate of change indicates significant inflation. In other words, $58,000 in Chicago in the year 1922 would cost $971,342.33 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.90% during this same period, inflation in Chicago was lower.
In the year 1922: Pricing changed by -5.55%, which is significantly below the average yearly change in Chicago during the 1922-2024 time period. Compared to inflation for all items in 1922 (-6.16%), inflation in Chicago was higher.
Below are calculations of equivalent buying power in Chicago, over time, for $58,000 beginning in 1922. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1922 | $58,000.00 | -5.55% |
1923 | $58,703.88 | 1.21% |
1924 | $59,858.25 | 1.97% |
1925 | $61,181.55 | 2.21% |
1926 | $62,251.46 | 1.75% |
1927 | $61,688.35 | -0.90% |
1928 | $59,773.79 | -3.10% |
1929 | $59,633.01 | -0.24% |
1930 | $58,985.44 | -1.09% |
1931 | $53,917.48 | -8.59% |
1932 | $47,582.52 | -11.75% |
1933 | $42,683.50 | -10.30% |
1934 | $42,965.05 | 0.66% |
1935 | $44,823.30 | 4.33% |
1936 | $45,724.27 | 2.01% |
1937 | $47,610.68 | 4.13% |
1938 | $47,272.82 | -0.71% |
1939 | $46,343.69 | -1.97% |
1940 | $46,597.09 | 0.55% |
1941 | $49,046.60 | 5.26% |
1942 | $53,917.48 | 9.93% |
1943 | $56,930.10 | 5.59% |
1944 | $57,802.91 | 1.53% |
1945 | $59,041.75 | 2.14% |
1946 | $64,306.80 | 8.92% |
1947 | $74,696.12 | 16.16% |
1948 | $81,200.00 | 8.71% |
1949 | $81,115.53 | -0.10% |
1950 | $81,932.04 | 1.01% |
1951 | $88,379.61 | 7.87% |
1952 | $90,294.17 | 2.17% |
1953 | $91,082.52 | 0.87% |
1954 | $92,433.98 | 1.48% |
1955 | $93,053.40 | 0.67% |
1956 | $94,348.54 | 1.39% |
1957 | $97,417.48 | 3.25% |
1958 | $100,373.79 | 3.03% |
1959 | $101,190.29 | 0.81% |
1960 | $102,598.06 | 1.39% |
1961 | $103,104.85 | 0.49% |
1962 | $104,174.76 | 1.04% |
1963 | $105,216.50 | 1.00% |
1964 | $105,638.83 | 0.40% |
1965 | $107,046.60 | 1.33% |
1966 | $110,256.31 | 3.00% |
1967 | $113,128.16 | 2.60% |
1968 | $117,914.56 | 4.23% |
1969 | $124,362.14 | 5.47% |
1970 | $131,485.44 | 5.73% |
1971 | $136,666.02 | 3.94% |
1972 | $140,551.46 | 2.84% |
1973 | $149,364.08 | 6.27% |
1974 | $165,159.22 | 10.57% |
1975 | $178,195.15 | 7.89% |
1976 | $186,726.21 | 4.79% |
1977 | $198,466.99 | 6.29% |
1978 | $215,726.21 | 8.70% |
1979 | $242,642.72 | 12.48% |
1980 | $277,639.81 | 14.42% |
1981 | $304,218.45 | 9.57% |
1982 | $324,968.93 | 6.82% |
1983 | $337,920.39 | 3.99% |
1984 | $350,674.76 | 3.77% |
1985 | $363,907.77 | 3.77% |
1986 | $371,509.71 | 2.09% |
1987 | $386,826.21 | 4.12% |
1988 | $401,945.63 | 3.91% |
1989 | $422,273.79 | 5.06% |
1990 | $444,966.99 | 5.37% |
1991 | $463,014.56 | 4.06% |
1992 | $476,585.44 | 2.93% |
1993 | $491,282.52 | 3.08% |
1994 | $502,037.86 | 2.19% |
1995 | $518,001.94 | 3.18% |
1996 | $531,854.37 | 2.67% |
1997 | $546,410.68 | 2.74% |
1998 | $557,419.42 | 2.01% |
1999 | $568,963.11 | 2.07% |
2000 | $587,235.92 | 3.21% |
2001 | $602,524.27 | 2.60% |
2002 | $612,125.24 | 1.59% |
2003 | $623,387.38 | 1.84% |
2004 | $637,324.27 | 2.24% |
2005 | $656,610.68 | 3.03% |
2006 | $670,068.93 | 2.05% |
2007 | $692,005.04 | 3.27% |
2008 | $718,081.39 | 3.77% |
2009 | $709,497.95 | -1.20% |
2010 | $719,212.67 | 1.37% |
2011 | $738,855.24 | 2.73% |
2012 | $750,074.30 | 1.52% |
2013 | $758,657.46 | 1.14% |
2014 | $771,910.46 | 1.75% |
2015 | $769,628.47 | -0.30% |
2016 | $774,728.24 | 0.66% |
2017 | $789,288.78 | 1.88% |
2018 | $803,124.03 | 1.75% |
2019 | $814,862.83 | 1.46% |
2020 | $823,958.42 | 1.12% |
2021 | $858,712.24 | 4.22% |
2022 | $923,572.01 | 7.55% |
2023 | $954,295.40 | 3.33% |
2024 | $971,342.33 | 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 |