According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,550.12% higher in 2024 versus 1923 (a $10,385,790.50 difference in value).
Between 1923 and 2024: Chicago experienced an average inflation rate of 2.81% per year. This rate of change indicates significant inflation. In other words, $670,000 in Chicago in the year 1923 would cost $11,055,790.50 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.91% during this same period, inflation in Chicago was lower.
In the year 1923: Pricing changed by 1.21%, which is below the average yearly change in Chicago during the 1923-2024 time period. Compared to inflation for all items in 1923 (1.79%), inflation in Chicago was lower.
Below are calculations of equivalent buying power in Chicago, over time, for $670,000 beginning in 1923. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1923 | $670,000.00 | 1.21% |
1924 | $683,175.06 | 1.97% |
1925 | $698,278.18 | 2.21% |
1926 | $710,489.21 | 1.75% |
1927 | $704,062.35 | -0.90% |
1928 | $682,211.03 | -3.10% |
1929 | $680,604.32 | -0.24% |
1930 | $673,213.43 | -1.09% |
1931 | $615,371.70 | -8.59% |
1932 | $543,069.54 | -11.75% |
1933 | $487,155.88 | -10.30% |
1934 | $490,369.30 | 0.66% |
1935 | $511,577.94 | 4.33% |
1936 | $521,860.91 | 2.01% |
1937 | $543,390.89 | 4.13% |
1938 | $539,534.77 | -0.71% |
1939 | $528,930.46 | -1.97% |
1940 | $531,822.54 | 0.55% |
1941 | $559,779.38 | 5.26% |
1942 | $615,371.70 | 9.93% |
1943 | $649,755.40 | 5.59% |
1944 | $659,717.03 | 1.53% |
1945 | $673,856.12 | 2.14% |
1946 | $733,947.24 | 8.92% |
1947 | $852,522.78 | 16.16% |
1948 | $926,753.00 | 8.71% |
1949 | $925,788.97 | -0.10% |
1950 | $935,107.91 | 1.01% |
1951 | $1,008,695.44 | 7.87% |
1952 | $1,030,546.76 | 2.17% |
1953 | $1,039,544.36 | 0.87% |
1954 | $1,054,968.82 | 1.48% |
1955 | $1,062,038.37 | 0.67% |
1956 | $1,076,820.14 | 1.39% |
1957 | $1,111,846.52 | 3.25% |
1958 | $1,145,587.53 | 3.03% |
1959 | $1,154,906.47 | 0.81% |
1960 | $1,170,973.62 | 1.39% |
1961 | $1,176,757.79 | 0.49% |
1962 | $1,188,968.82 | 1.04% |
1963 | $1,200,858.51 | 1.00% |
1964 | $1,205,678.66 | 0.40% |
1965 | $1,221,745.80 | 1.33% |
1966 | $1,258,378.90 | 3.00% |
1967 | $1,291,155.88 | 2.60% |
1968 | $1,345,784.17 | 4.23% |
1969 | $1,419,371.70 | 5.47% |
1970 | $1,500,671.46 | 5.73% |
1971 | $1,559,798.56 | 3.94% |
1972 | $1,604,143.88 | 2.84% |
1973 | $1,704,724.22 | 6.27% |
1974 | $1,884,997.60 | 10.57% |
1975 | $2,033,779.38 | 7.89% |
1976 | $2,131,146.28 | 4.79% |
1977 | $2,265,146.28 | 6.29% |
1978 | $2,462,129.50 | 8.70% |
1979 | $2,769,333.33 | 12.48% |
1980 | $3,168,762.59 | 14.42% |
1981 | $3,472,110.31 | 9.57% |
1982 | $3,708,940.05 | 6.82% |
1983 | $3,856,757.79 | 3.99% |
1984 | $4,002,326.14 | 3.77% |
1985 | $4,153,357.31 | 3.77% |
1986 | $4,240,119.90 | 2.09% |
1987 | $4,414,930.46 | 4.12% |
1988 | $4,587,491.61 | 3.91% |
1989 | $4,819,501.20 | 5.06% |
1990 | $5,078,503.60 | 5.37% |
1991 | $5,284,484.41 | 4.06% |
1992 | $5,439,371.70 | 2.93% |
1993 | $5,607,112.71 | 3.08% |
1994 | $5,729,865.71 | 2.19% |
1995 | $5,912,067.15 | 3.18% |
1996 | $6,070,167.87 | 2.67% |
1997 | $6,236,302.16 | 2.74% |
1998 | $6,361,947.24 | 2.01% |
1999 | $6,493,697.84 | 2.07% |
2000 | $6,702,249.40 | 3.21% |
2001 | $6,876,738.61 | 2.60% |
2002 | $6,986,316.55 | 1.59% |
2003 | $7,114,853.72 | 1.84% |
2004 | $7,273,918.47 | 2.24% |
2005 | $7,494,038.37 | 3.03% |
2006 | $7,647,640.29 | 2.05% |
2007 | $7,898,001.77 | 3.27% |
2008 | $8,195,616.74 | 3.77% |
2009 | $8,097,652.13 | -1.20% |
2010 | $8,208,528.30 | 1.37% |
2011 | $8,432,713.19 | 2.73% |
2012 | $8,560,758.71 | 1.52% |
2013 | $8,658,720.10 | 1.14% |
2014 | $8,809,979.42 | 1.75% |
2015 | $8,783,934.58 | -0.30% |
2016 | $8,842,139.42 | 0.66% |
2017 | $9,008,321.92 | 1.88% |
2018 | $9,166,226.62 | 1.75% |
2019 | $9,300,204.12 | 1.46% |
2020 | $9,404,013.96 | 1.12% |
2021 | $9,800,666.81 | 4.22% |
2022 | $10,540,925.23 | 7.55% |
2023 | $10,891,577.84 | 3.33% |
2024 | $11,055,790.50 | 1.51%* |
* 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 | 286.708 |