According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,522.74% higher in 2024 versus 1924 (a $7,309,140.17 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, $480,000 in Chicago in the year 1924 would cost $7,789,140.17 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 $480,000 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 | $480,000.00 | 1.97% |
1925 | $490,611.48 | 2.21% |
1926 | $499,190.97 | 1.75% |
1927 | $494,675.45 | -0.90% |
1928 | $479,322.67 | -3.10% |
1929 | $478,193.79 | -0.24% |
1930 | $473,000.94 | -1.09% |
1931 | $432,361.24 | -8.59% |
1932 | $381,561.62 | -11.75% |
1933 | $342,276.58 | -10.30% |
1934 | $344,534.34 | 0.66% |
1935 | $359,435.56 | 4.33% |
1936 | $366,660.40 | 2.01% |
1937 | $381,787.39 | 4.13% |
1938 | $379,078.08 | -0.71% |
1939 | $371,627.47 | -1.97% |
1940 | $373,659.45 | 0.55% |
1941 | $393,301.98 | 5.26% |
1942 | $432,361.24 | 9.93% |
1943 | $456,519.29 | 5.59% |
1944 | $463,518.34 | 1.53% |
1945 | $473,452.49 | 2.14% |
1946 | $515,672.62 | 8.92% |
1947 | $598,984.01 | 16.16% |
1948 | $651,138.29 | 8.71% |
1949 | $650,460.96 | -0.10% |
1950 | $657,008.47 | 1.01% |
1951 | $708,711.19 | 7.87% |
1952 | $724,063.97 | 2.17% |
1953 | $730,385.70 | 0.87% |
1954 | $741,222.95 | 1.48% |
1955 | $746,190.03 | 0.67% |
1956 | $756,575.73 | 1.39% |
1957 | $781,185.32 | 3.25% |
1958 | $804,891.82 | 3.03% |
1959 | $811,439.32 | 0.81% |
1960 | $822,728.13 | 1.39% |
1961 | $826,792.10 | 0.49% |
1962 | $835,371.59 | 1.04% |
1963 | $843,725.31 | 1.00% |
1964 | $847,111.95 | 0.40% |
1965 | $858,400.75 | 1.33% |
1966 | $884,139.23 | 3.00% |
1967 | $907,168.39 | 2.60% |
1968 | $945,550.33 | 4.23% |
1969 | $997,253.06 | 5.47% |
1970 | $1,054,374.41 | 5.73% |
1971 | $1,095,917.22 | 3.94% |
1972 | $1,127,074.32 | 2.84% |
1973 | $1,197,742.24 | 6.27% |
1974 | $1,324,402.63 | 10.57% |
1975 | $1,428,936.97 | 7.89% |
1976 | $1,497,347.13 | 4.79% |
1977 | $1,591,495.77 | 6.29% |
1978 | $1,729,896.52 | 8.70% |
1979 | $1,945,738.48 | 12.48% |
1980 | $2,226,378.17 | 14.42% |
1981 | $2,439,510.82 | 9.57% |
1982 | $2,605,907.81 | 6.82% |
1983 | $2,709,764.82 | 3.99% |
1984 | $2,812,041.39 | 3.77% |
1985 | $2,918,156.16 | 3.77% |
1986 | $2,979,115.71 | 2.09% |
1987 | $3,101,937.91 | 4.12% |
1988 | $3,223,179.68 | 3.91% |
1989 | $3,386,190.03 | 5.06% |
1990 | $3,568,165.57 | 5.37% |
1991 | $3,712,888.05 | 4.06% |
1992 | $3,821,712.14 | 2.93% |
1993 | $3,939,567.26 | 3.08% |
1994 | $4,025,813.73 | 2.19% |
1995 | $4,153,828.79 | 3.18% |
1996 | $4,264,910.63 | 2.67% |
1997 | $4,381,636.88 | 2.74% |
1998 | $4,469,915.33 | 2.01% |
1999 | $4,562,483.54 | 2.07% |
2000 | $4,709,012.23 | 3.21% |
2001 | $4,831,608.65 | 2.60% |
2002 | $4,908,598.31 | 1.59% |
2003 | $4,998,908.75 | 1.84% |
2004 | $5,110,667.92 | 2.24% |
2005 | $5,265,324.55 | 3.03% |
2006 | $5,373,245.53 | 2.05% |
2007 | $5,549,149.95 | 3.27% |
2008 | $5,758,254.75 | 3.77% |
2009 | $5,689,424.65 | -1.20% |
2010 | $5,767,326.43 | 1.37% |
2011 | $5,924,839.13 | 2.73% |
2012 | $6,014,804.14 | 1.52% |
2013 | $6,083,631.98 | 1.14% |
2014 | $6,189,907.06 | 1.75% |
2015 | $6,171,607.90 | -0.30% |
2016 | $6,212,502.73 | 0.66% |
2017 | $6,329,262.84 | 1.88% |
2018 | $6,440,206.96 | 1.75% |
2019 | $6,534,339.79 | 1.46% |
2020 | $6,607,276.76 | 1.12% |
2021 | $6,885,965.76 | 4.22% |
2022 | $7,406,072.62 | 7.55% |
2023 | $7,652,441.77 | 3.33% |
2024 | $7,789,140.17 | 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 |