According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 2,049.57% higher in 2025 versus 1938 (a $20,085,765.40 difference in value).
Between 1938 and 2025: Chicago experienced an average inflation rate of 3.59% per year. This rate of change indicates significant inflation. In other words, $980,000 in Chicago in the year 1938 would cost $21,065,765.40 in 2025 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 1938-2025 time period. Compared to inflation for all items in 1938 (-2.03%), inflation in Chicago was higher.
Below are calculations of equivalent buying power in Chicago, over time, for $980,000 beginning in 1938. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1938 | $980,000.00 | -0.71% |
| 1939 | $960,738.53 | -1.97% |
| 1940 | $965,991.66 | 0.55% |
| 1941 | $1,016,771.89 | 5.26% |
| 1942 | $1,117,748.66 | 9.93% |
| 1943 | $1,180,202.50 | 5.59% |
| 1944 | $1,198,296.61 | 1.53% |
| 1945 | $1,223,978.56 | 2.14% |
| 1946 | $1,333,126.86 | 8.92% |
| 1947 | $1,548,505.06 | 16.16% |
| 1948 | $1,683,335.32 | 8.71% |
| 1949 | $1,681,584.28 | -0.10% |
| 1950 | $1,698,511.02 | 1.01% |
| 1951 | $1,832,173.91 | 7.87% |
| 1952 | $1,871,864.20 | 2.17% |
| 1953 | $1,888,207.27 | 0.87% |
| 1954 | $1,916,223.94 | 1.48% |
| 1955 | $1,929,064.92 | 0.67% |
| 1956 | $1,955,914.23 | 1.39% |
| 1957 | $2,019,535.44 | 3.25% |
| 1958 | $2,080,821.92 | 3.03% |
| 1959 | $2,097,748.66 | 0.81% |
| 1960 | $2,126,932.70 | 1.39% |
| 1961 | $2,137,438.95 | 0.49% |
| 1962 | $2,159,618.82 | 1.04% |
| 1963 | $2,181,215.01 | 1.00% |
| 1964 | $2,189,970.22 | 0.40% |
| 1965 | $2,219,154.26 | 1.33% |
| 1966 | $2,285,693.87 | 3.00% |
| 1967 | $2,345,229.30 | 2.60% |
| 1968 | $2,444,455.03 | 4.23% |
| 1969 | $2,578,117.93 | 5.47% |
| 1970 | $2,725,789.16 | 5.73% |
| 1971 | $2,833,186.42 | 3.94% |
| 1972 | $2,913,734.37 | 2.84% |
| 1973 | $3,096,426.44 | 6.27% |
| 1974 | $3,423,871.35 | 10.57% |
| 1975 | $3,694,115.54 | 7.89% |
| 1976 | $3,870,970.82 | 4.79% |
| 1977 | $4,114,365.69 | 6.29% |
| 1978 | $4,472,162.00 | 8.70% |
| 1979 | $5,030,160.81 | 12.48% |
| 1980 | $5,755,676.00 | 14.42% |
| 1981 | $6,306,670.64 | 9.57% |
| 1982 | $6,736,843.36 | 6.82% |
| 1983 | $7,005,336.51 | 3.99% |
| 1984 | $7,269,743.90 | 3.77% |
| 1985 | $7,544,073.85 | 3.77% |
| 1986 | $7,701,667.66 | 2.09% |
| 1987 | $8,019,189.99 | 4.12% |
| 1988 | $8,332,626.56 | 3.91% |
| 1989 | $8,754,044.07 | 5.06% |
| 1990 | $9,224,490.77 | 5.37% |
| 1991 | $9,598,630.14 | 4.06% |
| 1992 | $9,879,964.26 | 2.93% |
| 1993 | $10,184,645.62 | 3.08% |
| 1994 | $10,407,611.67 | 2.19% |
| 1995 | $10,738,558.67 | 3.18% |
| 1996 | $11,025,729.60 | 2.67% |
| 1997 | $11,327,492.56 | 2.74% |
| 1998 | $11,555,711.73 | 2.01% |
| 1999 | $11,795,020.85 | 2.07% |
| 2000 | $12,173,829.66 | 3.21% |
| 2001 | $12,490,768.31 | 2.60% |
| 2002 | $12,689,803.45 | 1.59% |
| 2003 | $12,923,275.76 | 1.84% |
| 2004 | $13,212,197.74 | 2.24% |
| 2005 | $13,612,019.06 | 3.03% |
| 2006 | $13,891,018.46 | 2.05% |
| 2007 | $14,345,769.98 | 3.27% |
| 2008 | $14,886,351.76 | 3.77% |
| 2009 | $14,708,410.84 | -1.20% |
| 2010 | $14,909,804.05 | 1.37% |
| 2011 | $15,317,008.93 | 2.73% |
| 2012 | $15,549,588.21 | 1.52% |
| 2013 | $15,727,523.29 | 1.14% |
| 2014 | $16,002,267.66 | 1.75% |
| 2015 | $15,954,960.33 | -0.30% |
| 2016 | $16,060,682.43 | 0.66% |
| 2017 | $16,362,532.94 | 1.88% |
| 2018 | $16,649,347.83 | 1.75% |
| 2019 | $16,892,701.85 | 1.46% |
| 2020 | $17,081,259.92 | 1.12% |
| 2021 | $17,801,732.10 | 4.22% |
| 2022 | $19,146,322.45 | 7.55% |
| 2023 | $19,783,240.74 | 3.33% |
| 2024 | $20,467,933.29 | 3.46% |
| 2025 | $21,065,765.40 | 2.92%* |
* 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 | 2025 |
| 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 | 292.225 | 300.760 |