According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 1,085.55% higher in 2024 versus 1950 (a $3,701,713,195,876.29 difference in value).
Between 1950 and 2024: Chicago experienced an average inflation rate of 3.40% per year. This rate of change indicates significant inflation. In other words, $341,000,000,000 in Chicago in the year 1950 would cost $4,042,713,195,876.29 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.52% during this same period, inflation in Chicago was lower.
In the year 1950: Pricing changed by 1.01%, which is below the average yearly change in Chicago during the 1950-2024 time period. Compared to inflation for all items in 1950 (1.10%), inflation in Chicago was lower.
Below are calculations of equivalent buying power in Chicago, over time, for $341,000,000,000 beginning in 1950. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1950 | $341,000,000,000.00 | 1.01% |
1951 | $367,834,707,903.78 | 7.87% |
1952 | $375,803,092,783.51 | 2.17% |
1953 | $379,084,192,439.86 | 0.87% |
1954 | $384,708,934,707.90 | 1.48% |
1955 | $387,286,941,580.76 | 0.67% |
1956 | $392,677,319,587.63 | 1.39% |
1957 | $405,450,171,821.31 | 3.25% |
1958 | $417,754,295,532.65 | 3.03% |
1959 | $421,152,577,319.59 | 0.81% |
1960 | $427,011,683,848.80 | 1.39% |
1961 | $429,120,962,199.31 | 0.49% |
1962 | $433,573,883,161.51 | 1.04% |
1963 | $437,909,621,993.13 | 1.00% |
1964 | $439,667,353,951.89 | 0.40% |
1965 | $445,526,460,481.10 | 1.33% |
1966 | $458,885,223,367.70 | 3.00% |
1967 | $470,837,800,687.29 | 2.60% |
1968 | $490,758,762,886.60 | 4.23% |
1969 | $517,593,470,790.38 | 5.47% |
1970 | $547,240,549,828.18 | 5.73% |
1971 | $568,802,061,855.67 | 3.94% |
1972 | $584,973,195,876.29 | 2.84% |
1973 | $621,651,202,749.14 | 6.27% |
1974 | $687,390,378,006.87 | 10.57% |
1975 | $741,645,704,467.35 | 7.89% |
1976 | $777,151,890,034.36 | 4.79% |
1977 | $826,016,838,487.97 | 6.29% |
1978 | $897,849,484,536.08 | 8.70% |
1979 | $1,009,875,601,374.57 | 12.48% |
1980 | $1,155,532,989,690.72 | 14.42% |
1981 | $1,266,152,920,962.20 | 9.57% |
1982 | $1,352,516,151,202.75 | 6.82% |
1983 | $1,406,419,931,271.48 | 3.99% |
1984 | $1,459,503,436,426.12 | 3.77% |
1985 | $1,514,579,037,800.69 | 3.77% |
1986 | $1,546,218,213,058.42 | 2.09% |
1987 | $1,609,965,292,096.22 | 4.12% |
1988 | $1,672,892,096,219.93 | 3.91% |
1989 | $1,757,497,594,501.72 | 5.06% |
1990 | $1,851,946,391,752.58 | 5.37% |
1991 | $1,927,060,137,457.04 | 4.06% |
1992 | $1,983,541,924,398.63 | 2.93% |
1993 | $2,044,710,996,563.57 | 3.08% |
1994 | $2,089,474,570,446.74 | 2.19% |
1995 | $2,155,916,838,487.97 | 3.18% |
1996 | $2,213,570,446,735.40 | 2.67% |
1997 | $2,274,153,608,247.42 | 2.74% |
1998 | $2,319,971,821,305.84 | 2.01% |
1999 | $2,368,016,494,845.36 | 2.07% |
2000 | $2,444,067,697,594.50 | 3.21% |
2001 | $2,507,697,594,501.72 | 2.60% |
2002 | $2,547,656,701,030.93 | 1.59% |
2003 | $2,594,529,553,264.60 | 1.84% |
2004 | $2,652,534,707,903.78 | 2.24% |
2005 | $2,732,804,467,353.95 | 3.03% |
2006 | $2,788,817,525,773.20 | 2.05% |
2007 | $2,880,115,295,532.65 | 3.27% |
2008 | $2,988,644,697,594.50 | 3.77% |
2009 | $2,952,920,553,264.61 | -1.20% |
2010 | $2,993,353,075,601.37 | 1.37% |
2011 | $3,075,105,189,003.44 | 2.73% |
2012 | $3,121,798,752,577.32 | 1.52% |
2013 | $3,157,521,725,085.91 | 1.14% |
2014 | $3,212,680,525,773.20 | 1.75% |
2015 | $3,203,182,914,089.35 | -0.30% |
2016 | $3,224,408,113,402.06 | 0.66% |
2017 | $3,285,008,852,233.68 | 1.88% |
2018 | $3,342,590,979,381.44 | 1.75% |
2019 | $3,391,447,725,085.91 | 1.46% |
2020 | $3,429,303,412,371.13 | 1.12% |
2021 | $3,573,948,347,079.04 | 4.22% |
2022 | $3,843,893,790,378.01 | 7.55% |
2023 | $3,971,764,103,092.78 | 3.33% |
2024 | $4,042,713,195,876.29 | 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 |