Commodities less food priced at $20 in 1940 $189.78 in 2024

Commodities Less Food Inflation Calculator

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Prices for Commodities Less Food, 1940-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for commodities less food are 848.89% higher in 2024 versus 1940 (a $169.78 difference in value).

Between 1940 and 2024: Commodities less food experienced an average inflation rate of 2.71% per year. This rate of change indicates significant inflation. In other words, commodities less food costing $20 in the year 1940 would cost $189.78 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.75% during this same period, inflation for commodities less food was lower.

In the year 1940: Pricing changed by 0.65%, which is below the average yearly change for commodities less food during the 1940-2024 time period. Compared to inflation for all items in 1940 (0.72%), inflation for commodities less food was lower.

Price Inflation for Commodities less food since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (13.81%), 1947 (12.59%), and 1979 (11.64%).

View price changes for other categories
Food · Indoor plants and flowers · New cars · Admission to sporting events · More

Buying power of $20.00 since 1940

Below are calculations of equivalent buying power for Commodities less food, over time, for $20 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1940$20.000.65%
1941$21.125.60%
1942$23.4310.92%
1943$24.444.32%
1944$25.715.20%
1945$26.754.02%
1946$28.586.85%
1947$32.1812.59%
1948$34.507.23%
1949$33.81-2.00%
1950$33.990.51%
1951$36.577.61%
1952$36.700.35%
1953$36.810.29%
1954$36.40-1.11%
1955$36.16-0.65%
1956$36.561.08%
1957$37.652.99%
1958$38.061.10%
1959$38.561.31%
1960$38.780.56%
1961$38.880.26%
1962$39.170.75%
1963$39.430.68%
1964$39.790.90%
1965$40.040.63%
1966$40.581.37%
1967$41.592.49%
1968$43.123.67%
1969$44.964.27%
1970$46.824.13%
1971$48.583.77%
1972$49.692.27%
1973$51.403.45%
1974$56.8210.55%
1975$62.049.18%
1976$65.165.04%
1977$68.695.42%
1978$72.705.83%
1979$81.1611.64%
1980$92.3713.81%
1981$100.358.64%
1982$104.394.03%
1983$107.783.24%
1984$111.123.10%
1985$113.402.06%
1986$109.62-3.34%
1987$112.432.56%
1988$116.033.21%
1989$120.663.99%
1990$126.544.88%
1991$130.693.28%
1992$133.792.37%
1993$136.061.69%
1994$137.791.27%
1995$139.891.52%
1996$142.862.13%
1997$143.790.65%
1998$142.19-1.11%
1999$144.401.55%
2000$149.983.86%
2001$149.64-0.23%
2002$146.58-2.04%
2003$147.050.32%
2004$149.571.71%
2005$155.694.09%
2006$159.432.41%
2007$161.341.19%
2008$167.363.73%
2009$158.48-5.30%
2010$164.864.02%
2011$175.016.16%
2012$178.091.76%
2013$176.86-0.69%
2014$174.92-1.10%
2015$164.03-6.23%
2016$160.14-2.37%
2017$162.181.28%
2018$165.572.09%
2019$164.76-0.49%
2020$160.88-2.35%
2021$177.2010.14%
2022$197.5011.46%
2023$195.02-1.26%
2024$189.78-2.69%*

* 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 Commodities less food:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI17.77517.96718.78018.68018.44018.56019.60021.74022.68023.86024.82026.52029.86032.02031.38031.54033.94034.06034.16033.78033.56033.92334.93835.32335.78535.98536.07736.34636.59236.92337.15437.66238.60040.01541.72343.44645.08546.10847.70052.73157.56960.46963.74667.46275.31585.71593.12396.877100.015103.115105.238101.723104.331107.677111.969117.431121.285124.162126.262127.869129.815132.577133.438131.954134.000139.177138.862136.031136.462138.800144.477147.954149.720155.310147.071152.990162.409165.264164.129162.323152.217148.608150.505153.646152.898149.298164.441183.284180.980176.114

Adjust commodities less food prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1940 * 1940 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Commodities less food was 18.560 in the year 1940 and 176.114 in 2024:

176.114 / 18.560 * $20 = $189.78

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1940 has the same "purchasing power" as $189.78 in 2024 (in the CPI category of Commodities less food).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Commodities less food in 1935. In addition to commodities less food, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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