According to the U.S. Bureau of Labor Statistics, prices in New York are 2,163.94% higher in 2024 versus 1940 (a $20,557,418.37 difference in value).
Between 1940 and 2024: New York experienced an average inflation rate of 3.78% per year. This rate of change indicates significant inflation. In other words, $950,000 in New York in the year 1940 would cost $21,507,418.37 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation in New York was higher.
In the year 1940: Pricing changed by 1.03%, which is below the average yearly change in New York during the 1940-2024 time period. Compared to inflation for all items in 1940 (0.72%), inflation in New York was higher.
Below are calculations of equivalent buying power in New York, over time, for $950,000 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1940 | $950,000.00 | 1.03% |
1941 | $985,544.22 | 3.74% |
1942 | $1,080,328.80 | 9.62% |
1943 | $1,161,111.11 | 7.48% |
1944 | $1,189,115.65 | 2.41% |
1945 | $1,216,581.63 | 2.31% |
1946 | $1,336,678.00 | 9.87% |
1947 | $1,497,165.53 | 12.01% |
1948 | $1,598,951.25 | 6.80% |
1949 | $1,581,179.14 | -1.11% |
1950 | $1,590,334.47 | 0.58% |
1951 | $1,708,815.19 | 7.45% |
1952 | $1,738,435.37 | 1.73% |
1953 | $1,747,590.70 | 0.53% |
1954 | $1,758,361.68 | 0.62% |
1955 | $1,750,283.45 | -0.46% |
1956 | $1,776,133.79 | 1.48% |
1957 | $1,832,681.41 | 3.18% |
1958 | $1,887,613.38 | 3.00% |
1959 | $1,916,156.46 | 1.51% |
1960 | $1,951,162.13 | 1.83% |
1961 | $1,968,395.69 | 0.88% |
1962 | $1,998,554.42 | 1.53% |
1963 | $2,042,176.87 | 2.18% |
1964 | $2,073,951.25 | 1.56% |
1965 | $2,107,341.27 | 1.61% |
1966 | $2,178,429.71 | 3.37% |
1967 | $2,234,977.32 | 2.60% |
1968 | $2,331,377.55 | 4.31% |
1969 | $2,475,708.62 | 6.19% |
1970 | $2,659,353.74 | 7.42% |
1971 | $2,813,378.68 | 5.79% |
1972 | $2,937,244.90 | 4.40% |
1973 | $3,124,121.32 | 6.36% |
1974 | $3,460,175.74 | 10.76% |
1975 | $3,722,987.53 | 7.60% |
1976 | $3,941,638.32 | 5.87% |
1977 | $4,146,825.40 | 5.21% |
1978 | $4,384,863.95 | 5.74% |
1979 | $4,764,540.82 | 8.66% |
1980 | $5,302,551.02 | 11.29% |
1981 | $5,824,404.76 | 9.84% |
1982 | $6,160,997.73 | 5.78% |
1983 | $6,451,814.06 | 4.72% |
1984 | $6,774,943.31 | 5.01% |
1985 | $7,025,368.48 | 3.70% |
1986 | $7,255,867.35 | 3.28% |
1987 | $7,622,619.05 | 5.05% |
1988 | $7,993,140.59 | 4.86% |
1989 | $8,437,443.31 | 5.56% |
1990 | $8,953,373.02 | 6.11% |
1991 | $9,357,823.13 | 4.52% |
1992 | $9,695,493.20 | 3.61% |
1993 | $9,985,232.43 | 2.99% |
1994 | $10,222,732.43 | 2.38% |
1995 | $10,479,620.18 | 2.51% |
1996 | $10,787,670.07 | 2.94% |
1997 | $11,039,172.34 | 2.33% |
1998 | $11,219,586.17 | 1.63% |
1999 | $11,437,698.41 | 1.94% |
2000 | $11,793,140.59 | 3.11% |
2001 | $12,093,650.79 | 2.55% |
2002 | $12,401,700.68 | 2.55% |
2003 | $12,782,454.65 | 3.07% |
2004 | $13,233,219.95 | 3.53% |
2005 | $13,746,456.92 | 3.88% |
2006 | $14,265,617.91 | 3.78% |
2007 | $14,666,195.86 | 2.81% |
2008 | $15,237,639.17 | 3.90% |
2009 | $15,304,990.08 | 0.44% |
2010 | $15,566,051.59 | 1.71% |
2011 | $16,008,959.47 | 2.85% |
2012 | $16,323,735.83 | 1.97% |
2013 | $16,598,056.41 | 1.68% |
2014 | $16,817,558.11 | 1.32% |
2015 | $16,838,793.08 | 0.13% |
2016 | $17,020,181.69 | 1.08% |
2017 | $17,353,360.26 | 1.96% |
2018 | $17,684,250.00 | 1.91% |
2019 | $17,976,595.80 | 1.65% |
2020 | $18,283,918.65 | 1.71% |
2021 | $18,890,303.00 | 3.32% |
2022 | $20,043,147.39 | 6.10% |
2023 | $20,809,389.17 | 3.82% |
2024 | $21,507,418.37 | 3.35%* |
* 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 New York:
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 | 9.900 | 9.917 | 10.200 | 11.508 | 14.050 | 17.158 | 20.117 | 18.408 | 17.283 | 17.458 | 17.492 | 17.767 | 18.267 | 18.050 | 17.875 | 17.808 | 17.575 | 16.367 | 14.950 | 13.933 | 14.192 | 14.375 | 14.550 | 14.867 | 14.617 | 14.550 | 14.700 | 15.250 | 16.717 | 17.967 | 18.400 | 18.825 | 20.683 | 23.167 | 24.742 | 24.467 | 24.608 | 26.442 | 26.900 | 27.042 | 27.208 | 27.083 | 27.483 | 28.358 | 29.208 | 29.650 | 30.192 | 30.458 | 30.925 | 31.600 | 32.092 | 32.608 | 33.708 | 34.583 | 36.075 | 38.308 | 41.150 | 43.533 | 45.450 | 48.342 | 53.542 | 57.608 | 60.992 | 64.167 | 67.850 | 73.725 | 82.050 | 90.125 | 95.333 | 99.833 | 104.833 | 108.708 | 112.275 | 117.950 | 123.683 | 130.558 | 138.542 | 144.800 | 150.025 | 154.508 | 158.183 | 162.158 | 166.925 | 170.817 | 173.608 | 176.983 | 182.483 | 187.133 | 191.900 | 197.792 | 204.767 | 212.708 | 220.742 | 226.940 | 235.782 | 236.825 | 240.864 | 247.718 | 252.588 | 256.833 | 260.230 | 260.558 | 263.365 | 268.520 | 273.641 | 278.164 | 282.920 | 292.303 | 310.141 | 321.998 | 332.799 |