According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,113.90% higher in 2024 versus 1948 (a $222.78 difference in value).
Between 1948 and 2024: Chicago experienced an average inflation rate of 3.34% per year. This rate of change indicates significant inflation. In other words, $20 in Chicago in the year 1948 would cost $242.78 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.44% during this same period, inflation in Chicago was lower.
In the year 1948: Pricing changed by 8.71%, which is significantly above the average yearly change in Chicago during the 1948-2024 time period. Compared to inflation for all items in 1948 (7.72%), inflation in Chicago was higher.
Below are calculations of equivalent buying power in Chicago, over time, for $20 beginning in 1948. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1948 | $20.00 | 8.71% |
| 1949 | $19.98 | -0.10% |
| 1950 | $20.18 | 1.01% |
| 1951 | $21.77 | 7.87% |
| 1952 | $22.24 | 2.17% |
| 1953 | $22.43 | 0.87% |
| 1954 | $22.77 | 1.48% |
| 1955 | $22.92 | 0.67% |
| 1956 | $23.24 | 1.39% |
| 1957 | $23.99 | 3.25% |
| 1958 | $24.72 | 3.03% |
| 1959 | $24.92 | 0.81% |
| 1960 | $25.27 | 1.39% |
| 1961 | $25.40 | 0.49% |
| 1962 | $25.66 | 1.04% |
| 1963 | $25.92 | 1.00% |
| 1964 | $26.02 | 0.40% |
| 1965 | $26.37 | 1.33% |
| 1966 | $27.16 | 3.00% |
| 1967 | $27.86 | 2.60% |
| 1968 | $29.04 | 4.23% |
| 1969 | $30.63 | 5.47% |
| 1970 | $32.39 | 5.73% |
| 1971 | $33.66 | 3.94% |
| 1972 | $34.62 | 2.84% |
| 1973 | $36.79 | 6.27% |
| 1974 | $40.68 | 10.57% |
| 1975 | $43.89 | 7.89% |
| 1976 | $45.99 | 4.79% |
| 1977 | $48.88 | 6.29% |
| 1978 | $53.13 | 8.70% |
| 1979 | $59.76 | 12.48% |
| 1980 | $68.38 | 14.42% |
| 1981 | $74.93 | 9.57% |
| 1982 | $80.04 | 6.82% |
| 1983 | $83.23 | 3.99% |
| 1984 | $86.37 | 3.77% |
| 1985 | $89.63 | 3.77% |
| 1986 | $91.50 | 2.09% |
| 1987 | $95.28 | 4.12% |
| 1988 | $99.00 | 3.91% |
| 1989 | $104.01 | 5.06% |
| 1990 | $109.60 | 5.37% |
| 1991 | $114.04 | 4.06% |
| 1992 | $117.39 | 2.93% |
| 1993 | $121.01 | 3.08% |
| 1994 | $123.65 | 2.19% |
| 1995 | $127.59 | 3.18% |
| 1996 | $131.00 | 2.67% |
| 1997 | $134.58 | 2.74% |
| 1998 | $137.30 | 2.01% |
| 1999 | $140.14 | 2.07% |
| 2000 | $144.64 | 3.21% |
| 2001 | $148.40 | 2.60% |
| 2002 | $150.77 | 1.59% |
| 2003 | $153.54 | 1.84% |
| 2004 | $156.98 | 2.24% |
| 2005 | $161.73 | 3.03% |
| 2006 | $165.04 | 2.05% |
| 2007 | $170.44 | 3.27% |
| 2008 | $176.87 | 3.77% |
| 2009 | $174.75 | -1.20% |
| 2010 | $177.15 | 1.37% |
| 2011 | $181.98 | 2.73% |
| 2012 | $184.75 | 1.52% |
| 2013 | $186.86 | 1.14% |
| 2014 | $190.13 | 1.75% |
| 2015 | $189.56 | -0.30% |
| 2016 | $190.82 | 0.66% |
| 2017 | $194.41 | 1.88% |
| 2018 | $197.81 | 1.75% |
| 2019 | $200.71 | 1.46% |
| 2020 | $202.95 | 1.12% |
| 2021 | $211.51 | 4.22% |
| 2022 | $227.48 | 7.55% |
| 2023 | $235.05 | 3.33% |
| 2024 | $242.78 | 3.29%* |
* 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 | 291.740 |