Chicago, Illinois prices: $77,481 in 1938 $1,587,689.52 in 2024

Inflation in Illinois

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Prices in Chicago, 1938-2024 ($77,481)

According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,949.13% higher in 2024 versus 1938 (a $1,510,208.52 difference in value).

Between 1938 and 2024: Chicago experienced an average inflation rate of 3.57% per year. This rate of change indicates significant inflation. In other words, $77,481 in Chicago in the year 1938 would cost $1,587,689.52 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.66% during this same period, inflation in Chicago was lower.

In the year 1938: Pricing changed by -0.71%, which is significantly below the average yearly change in Chicago during the 1938-2024 time period. Compared to inflation for all items in 1938 (-2.03%), inflation in Chicago was higher.

Price Inflation in Chicago, Illinois since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (21.36%), 1920 (19.10%), and 1918 (16.80%).

View price changes for other categories
Airline fares · Televisions · Housing · Women's apparel · More

Buying power of $77,481.00 since 1938

Below are calculations of equivalent buying power in Chicago, over time, for $77,481 beginning in 1938. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1938$77,481.00-0.71%
1939$75,958.15-1.97%
1940$76,373.470.55%
1941$80,388.275.26%
1942$88,371.729.93%
1943$93,309.465.59%
1944$94,740.021.53%
1945$96,770.492.14%
1946$105,400.008.92%
1947$122,428.2916.16%
1948$133,088.278.71%
1949$132,949.83-0.10%
1950$134,288.091.01%
1951$144,855.787.87%
1952$147,993.792.17%
1953$149,285.910.87%
1954$151,500.971.48%
1955$152,516.200.67%
1956$154,638.971.39%
1957$159,669.013.25%
1958$164,514.453.03%
1959$165,852.720.81%
1960$168,160.071.39%
1961$168,990.720.49%
1962$170,744.311.04%
1963$172,451.761.00%
1964$173,143.960.40%
1965$175,451.321.33%
1966$180,712.093.00%
1967$185,419.092.60%
1968$193,264.104.23%
1969$203,831.795.47%
1970$215,507.015.73%
1971$223,998.083.94%
1972$230,366.382.84%
1973$244,810.436.27%
1974$270,698.9610.57%
1975$292,065.077.89%
1976$306,047.644.79%
1977$325,290.996.29%
1978$353,579.178.70%
1979$397,695.8112.48%
1980$455,056.6714.42%
1981$498,619.549.57%
1982$532,629.966.82%
1983$553,857.633.99%
1984$574,762.273.77%
1985$596,451.413.77%
1986$608,911.132.09%
1987$634,015.164.12%
1988$658,796.163.91%
1989$692,114.385.06%
1990$729,308.955.37%
1991$758,889.254.06%
1992$781,132.152.93%
1993$805,220.953.08%
1994$822,849.142.19%
1995$849,014.563.18%
1996$871,718.932.67%
1997$895,576.992.74%
1998$913,620.512.01%
1999$932,540.832.07%
2000$962,490.303.21%
2001$987,548.182.60%
2002$1,003,284.351.59%
2003$1,021,743.191.84%
2004$1,044,586.012.24%
2005$1,076,196.783.03%
2006$1,098,255.102.05%
2007$1,134,208.783.27%
2008$1,176,948.393.77%
2009$1,162,879.98-1.20%
2010$1,178,802.581.37%
2011$1,210,997.112.73%
2012$1,229,385.351.52%
2013$1,243,453.301.14%
2014$1,265,175.201.75%
2015$1,261,434.98-0.30%
2016$1,269,793.610.66%
2017$1,293,658.591.88%
2018$1,316,334.821.75%
2019$1,335,574.931.46%
2020$1,350,482.751.12%
2021$1,407,444.904.22%
2022$1,513,751.237.55%
2023$1,564,107.423.33%
2024$1,587,689.521.51%*

* 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:

Year191419151916191719181919192019211922192319241925192619271928192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI10.00010.01710.31711.75813.73316.66719.85018.17517.16717.37517.71718.10818.42518.25817.69217.65017.45815.95814.08312.63312.71713.26713.53314.09213.99213.71713.79214.51715.95816.85017.10817.47519.03322.10824.03324.00824.25026.15826.72526.95827.35827.54227.92528.83329.70829.95030.36730.51730.83331.14231.26731.68332.63333.48334.90036.80838.91740.45041.60044.20848.88352.74255.26758.74263.85071.81782.17590.04296.183100.017103.792107.708109.958114.492118.967124.983131.700137.042141.058145.408148.592153.317157.417161.725164.983168.400173.808178.333181.175184.508188.633194.342198.325204.818212.536209.995212.870218.684222.005224.545228.468227.792229.302233.611237.706241.181243.873254.159273.356282.450286.708

Adjust Chicago prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1938 * 1938 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Chicago, Illinois was 13.992 in the year 1938 and 286.708 in 2024:

286.708 / 13.992 * $77,481 = $1,587,689.52

Therefore, according to U.S. Bureau of Labor Statistics, $77,481 in 1938 has the same "purchasing power" as $1,587,689.52 in 2024 (in the CPI category of Chicago, Illinois).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Chicago, Illinois in 1914. In addition to Chicago, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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