Philadelphia, Pennsylvania prices: $970 in 1924 $16,931.27 in 2024

Inflation in Pennsylvania

$

Prices in Philadelphia, 1924-2024 ($970)

According to the U.S. Bureau of Labor Statistics, prices in Philadelphia, Pennsylvania are 1,645.49% higher in 2024 versus 1924 (a $15,961.27 difference in value).

Between 1924 and 2024: Philadelphia experienced an average inflation rate of 2.90% per year. This rate of change indicates significant inflation. In other words, $970 in Philadelphia in the year 1924 would cost $16,931.27 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.94% during this same period, inflation in Philadelphia was lower.

In the year 1924: Pricing changed by 0.86%, which is below the average yearly change in Philadelphia during the 1924-2024 time period. Compared to inflation for all items in 1924 (0.41%), inflation in Philadelphia was higher.

Price Inflation in Philadelphia, Pennsylvania since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (21.56%), 1918 (21.45%), and 1920 (16.49%).

View price changes for other categories
Women's apparel · Admission to sporting events · Chicago, Illinois · Bananas · More

Buying power of $970.00 since 1924

Below are calculations of equivalent buying power in Philadelphia, over time, for $970 beginning in 1924. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1924$970.000.86%
1925$1,001.983.30%
1926$1,032.603.06%
1927$1,017.97-1.42%
1928$995.59-2.20%
1929$976.40-1.93%
1930$965.43-1.12%
1931$889.59-7.86%
1932$800.49-10.02%
1933$733.33-8.39%
1934$768.514.80%
1935$780.391.55%
1936$795.461.93%
1937$814.652.41%
1938$797.75-2.08%
1939$784.96-1.60%
1940$785.870.12%
1941$824.714.94%
1942$917.4611.25%
1943$975.946.37%
1944$989.191.36%
1945$1,015.692.68%
1946$1,102.508.55%
1947$1,261.5014.42%
1948$1,361.567.93%
1949$1,345.57-1.17%
1950$1,353.800.61%
1951$1,478.999.25%
1952$1,507.321.92%
1953$1,514.630.48%
1954$1,530.161.03%
1955$1,526.96-0.21%
1956$1,547.981.38%
1957$1,597.783.22%
1958$1,629.311.97%
1959$1,647.581.12%
1960$1,676.831.77%
1961$1,695.561.12%
1962$1,710.640.89%
1963$1,741.251.79%
1964$1,768.661.57%
1965$1,796.081.55%
1966$1,847.712.87%
1967$1,897.972.72%
1968$1,988.894.79%
1969$2,094.435.31%
1970$2,235.166.72%
1971$2,344.364.89%
1972$2,409.242.77%
1973$2,571.446.73%
1974$2,876.6511.87%
1975$3,116.068.32%
1976$3,270.044.94%
1977$3,483.416.53%
1978$3,686.735.84%
1979$4,053.179.94%
1980$4,582.2613.05%
1981$5,048.7510.18%
1982$5,294.114.86%
1983$5,448.542.92%
1984$5,704.404.70%
1985$5,963.474.54%
1986$6,111.502.48%
1987$6,404.384.79%
1988$6,710.964.79%
1989$7,034.444.82%
1990$7,447.945.88%
1991$7,795.644.67%
1992$8,036.883.09%
1993$8,237.002.49%
1994$8,478.702.93%
1995$8,700.762.62%
1996$8,928.292.62%
1997$9,126.132.22%
1998$9,217.511.00%
1999$9,414.442.14%
2000$9,666.192.67%
2001$9,933.932.77%
2002$10,125.831.93%
2003$10,344.692.16%
2004$10,754.533.96%
2005$11,181.733.97%
2006$11,612.133.85%
2007$11,866.722.19%
2008$12,290.813.57%
2009$12,227.36-0.52%
2010$12,477.832.05%
2011$12,804.952.62%
2012$13,044.881.87%
2013$13,201.491.20%
2014$13,377.351.33%
2015$13,365.86-0.09%
2016$13,444.060.59%
2017$13,615.161.27%
2018$13,796.671.33%
2019$14,058.551.90%
2020$14,187.370.92%
2021$14,742.253.91%
2022$15,894.137.81%
2023$16,614.784.53%
2024$16,931.271.90%*

* 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 Philadelphia, Pennsylvania:

Year191419151916191719181919192019211922192319241925192619271928192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI10.20010.20810.40811.80814.34217.43320.30818.61717.26717.54217.69218.27518.83318.56718.15817.80817.60816.22514.60013.37514.01714.23314.50814.85814.55014.31714.33315.04216.73317.80018.04218.52520.10823.00824.83324.54224.69226.97527.49227.62527.90827.85028.23329.14229.71730.05030.58330.92531.20031.75832.25832.75833.70034.61736.27538.20040.76742.75843.94246.90052.46756.83359.64263.53367.24273.92583.57592.08396.55899.375104.042108.767111.467116.808122.400128.300135.842142.183146.583150.233154.642158.692162.842166.450168.117171.708176.300181.183184.683188.675196.150203.942211.792216.435224.170223.013227.581233.547237.923240.780243.987243.778245.204248.325251.635256.411258.761268.882289.890303.034308.807

Adjust Philadelphia prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1924 * 1924 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Philadelphia, Pennsylvania was 17.692 in the year 1924 and 308.807 in 2024:

308.807 / 17.692 * $970 = $16,931.27

Therefore, according to U.S. Bureau of Labor Statistics, $970 in 1924 has the same "purchasing power" as $16,931.27 in 2024 (in the CPI category of Philadelphia, Pennsylvania).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Philadelphia, Pennsylvania in 1914. In addition to Philadelphia, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.