According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,522.74% higher in 2024 versus 1924 (a $350,229.63 difference in value).
Between 1924 and 2024: Chicago experienced an average inflation rate of 2.83% per year. This rate of change indicates significant inflation. In other words, $23,000 in Chicago in the year 1924 would cost $373,229.63 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.94% during this same period, inflation in Chicago was lower.
In the year 1924: Pricing changed by 1.97%, which is below the average yearly change in Chicago during the 1924-2024 time period. Compared to inflation for all items in 1924 (0.41%), inflation in Chicago was higher.
Below are calculations of equivalent buying power in Chicago, over time, for $23,000 beginning in 1924. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1924 | $23,000.00 | 1.97% |
1925 | $23,508.47 | 2.21% |
1926 | $23,919.57 | 1.75% |
1927 | $23,703.20 | -0.90% |
1928 | $22,967.54 | -3.10% |
1929 | $22,913.45 | -0.24% |
1930 | $22,664.63 | -1.09% |
1931 | $20,717.31 | -8.59% |
1932 | $18,283.16 | -11.75% |
1933 | $16,400.75 | -10.30% |
1934 | $16,508.94 | 0.66% |
1935 | $17,222.95 | 4.33% |
1936 | $17,569.14 | 2.01% |
1937 | $18,293.98 | 4.13% |
1938 | $18,164.16 | -0.71% |
1939 | $17,807.15 | -1.97% |
1940 | $17,904.52 | 0.55% |
1941 | $18,845.72 | 5.26% |
1942 | $20,717.31 | 9.93% |
1943 | $21,874.88 | 5.59% |
1944 | $22,210.25 | 1.53% |
1945 | $22,686.27 | 2.14% |
1946 | $24,709.31 | 8.92% |
1947 | $28,701.32 | 16.16% |
1948 | $31,200.38 | 8.71% |
1949 | $31,167.92 | -0.10% |
1950 | $31,481.66 | 1.01% |
1951 | $33,959.08 | 7.87% |
1952 | $34,694.73 | 2.17% |
1953 | $34,997.65 | 0.87% |
1954 | $35,516.93 | 1.48% |
1955 | $35,754.94 | 0.67% |
1956 | $36,252.59 | 1.39% |
1957 | $37,431.80 | 3.25% |
1958 | $38,567.73 | 3.03% |
1959 | $38,881.47 | 0.81% |
1960 | $39,422.39 | 1.39% |
1961 | $39,617.12 | 0.49% |
1962 | $40,028.22 | 1.04% |
1963 | $40,428.50 | 1.00% |
1964 | $40,590.78 | 0.40% |
1965 | $41,131.70 | 1.33% |
1966 | $42,365.00 | 3.00% |
1967 | $43,468.49 | 2.60% |
1968 | $45,307.62 | 4.23% |
1969 | $47,785.04 | 5.47% |
1970 | $50,522.11 | 5.73% |
1971 | $52,512.70 | 3.94% |
1972 | $54,005.64 | 2.84% |
1973 | $57,391.82 | 6.27% |
1974 | $63,460.96 | 10.57% |
1975 | $68,469.90 | 7.89% |
1976 | $71,747.88 | 4.79% |
1977 | $76,259.17 | 6.29% |
1978 | $82,890.87 | 8.70% |
1979 | $93,233.30 | 12.48% |
1980 | $106,680.62 | 14.42% |
1981 | $116,893.23 | 9.57% |
1982 | $124,866.42 | 6.82% |
1983 | $129,842.90 | 3.99% |
1984 | $134,743.65 | 3.77% |
1985 | $139,828.32 | 3.77% |
1986 | $142,749.29 | 2.09% |
1987 | $148,634.52 | 4.12% |
1988 | $154,444.03 | 3.91% |
1989 | $162,254.94 | 5.06% |
1990 | $170,974.60 | 5.37% |
1991 | $177,909.22 | 4.06% |
1992 | $183,123.71 | 2.93% |
1993 | $188,770.93 | 3.08% |
1994 | $192,903.57 | 2.19% |
1995 | $199,037.63 | 3.18% |
1996 | $204,360.30 | 2.67% |
1997 | $209,953.43 | 2.74% |
1998 | $214,183.44 | 2.01% |
1999 | $218,619.00 | 2.07% |
2000 | $225,640.17 | 3.21% |
2001 | $231,514.58 | 2.60% |
2002 | $235,203.67 | 1.59% |
2003 | $239,531.04 | 1.84% |
2004 | $244,886.17 | 2.24% |
2005 | $252,296.80 | 3.03% |
2006 | $257,468.02 | 2.05% |
2007 | $265,896.77 | 3.27% |
2008 | $275,916.37 | 3.77% |
2009 | $272,618.26 | -1.20% |
2010 | $276,351.06 | 1.37% |
2011 | $283,898.54 | 2.73% |
2012 | $288,209.37 | 1.52% |
2013 | $291,507.37 | 1.14% |
2014 | $296,599.71 | 1.75% |
2015 | $295,722.88 | -0.30% |
2016 | $297,682.42 | 0.66% |
2017 | $303,277.18 | 1.88% |
2018 | $308,593.25 | 1.75% |
2019 | $313,103.78 | 1.46% |
2020 | $316,598.68 | 1.12% |
2021 | $329,952.53 | 4.22% |
2022 | $354,874.31 | 7.55% |
2023 | $366,679.50 | 3.33% |
2024 | $373,229.63 | 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 |