According to the Bureau of Labor Statistics consumer price index, today's prices in 2020 are 2,504.01% higher than average prices since 1913. The U.S. dollar experienced an average inflation rate of 3.09% per year during this period, causing the real value of a dollar to decrease.

In other words, $4,600 in 1913 is equivalent in purchasing power to about $119,784.46 in 2020, a difference of $115,184.46 over 107 years.

The 1913 inflation rate was 2.06%. The current year-over-year inflation rate (2019 to 2020) is now 0.65%^{1}.
If this number holds, $4,600 today will be equivalent in buying power to $4,629.70 next year.
The current inflation rate page gives more detail on the latest official inflation rates.

Contents

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Cumulative price change | 2,504.01% |

Average inflation rate | 3.09% |

Converted amount ($4,600 base) | $119,784.46 |

Price difference ($4,600 base) | $115,184.46 |

CPI in 1913 | 9.900 |

CPI in 2020 | 257.797 |

Inflation in 1913 | 2.06% |

Inflation in 2020 | 0.65% |

This chart shows a calculation of buying power equivalence for $4,600 in 1913 (price index tracking began in 1635).

For example, if you started with $4,600, you would need to end with $119,784.46 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $4,600 is equivalent to $119,784.46 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1913 dollars, the chart below shows how $4,600 is worth less over 107 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

This conversion table shows various other 1913 amounts in today's dollars, based on the 2,504.01% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1913 | $26.04 dollars today |

$5 dollars in 1913 | $130.20 dollars today |

$10 dollars in 1913 | $260.40 dollars today |

$50 dollars in 1913 | $1,302.01 dollars today |

$100 dollars in 1913 | $2,604.01 dollars today |

$500 dollars in 1913 | $13,020.05 dollars today |

$1,000 dollars in 1913 | $26,040.10 dollars today |

$5,000 dollars in 1913 | $130,200.51 dollars today |

$10,000 dollars in 1913 | $260,401.01 dollars today |

$50,000 dollars in 1913 | $1,302,005.05 dollars today |

$100,000 dollars in 1913 | $2,604,010.10 dollars today |

$500,000 dollars in 1913 | $13,020,050.51 dollars today |

$1,000,000 dollars in 1913 | $26,040,101.01 dollars today |

Inflation can also vary widely by country. For comparison, in the UK £4,600.00 in 1913 would be equivalent to £534,277.50 in 2020, an absolute change of £529,677.50 and a cumulative change of 11,514.73%.

Compare these numbers to the US's overall absolute change of $115,184.46 and total percent change of 2,504.01%.

CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes. This chart shows the average rate of inflation for select CPI categories between 1913 and 2020.

Compare these values to the overall average of 3.09% per year:

Category | Avg Inflation (%) | Total Inflation (%) | $4,600 in 1913 → 2020 |
---|---|---|---|

Food and beverages | 3.89 | 5,834.18 | 272,972.06 |

Housing | 4.18 | 7,937.35 | 369,718.12 |

Apparel | 1.96 | 701.81 | 36,883.15 |

Transportation | 3.16 | 2,694.91 | 128,565.96 |

Medical care | 5.11 | 20,648.32 | 954,422.70 |

Recreation | 1.10 | 221.93 | 14,808.57 |

Education and communication | 1.82 | 592.15 | 31,838.92 |

Other goods and services | 4.98 | 18,022.73 | 833,645.69 |

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1913. This table and charts use the earliest available data for each category.

Our calculations use the following inflation rate formula to calculate the change in value between 1913 and today:

CPI today
CPI in 1913

×

1913 USD value

=

Today's value

Then plug in historical CPI values. The U.S. CPI was 9.9 in the year 1913 and 257.797 in 2020:

257.7979.9

×

$4,600

=

$4,600 in 1913 has the same "purchasing power" or "buying power" as $119,784.46 in 2020.

To get the total inflation rate for the 107 years between 1913 and 2020, we use the following formula:

CPI in 2020 - CPI in 1913CPI in 1913

×

100

=

Plugging in the values to this equation, we get:

257.797 - 9.99.9

×

100

=

The average inflation rate of 3.09% has a compounding effect between 1913 and 2020. As noted above, this yearly inflation rate compounds to produce an overall price difference of 2,504.01% over 107 years.

To help put this inflation into perspective, if we had invested $4,600 in the S&P 500 index in 1913, our investment would be * nominally* worth approximately $120,454,133.46 in 2020. This is a return on investment of 2,618,468.12%, with an absolute return of $120,449,533.46 on top of the original $4,600.

These numbers are not inflation adjusted, so they are considered *nominal*. In order to evaluate the *real* return on our investment, we must calculate the return with inflation taken into account.

The compounding effect of inflation would account for 96.16% of returns ($115,828,416.63) during this period. This means the inflation-adjusted * real* return of our $4,600 investment is $4,621,116.83. You may also want to account for capital gains tax, which would take your real return down to around $3,927,949 for most people.

Original Amount | Final Amount | Change | |
---|---|---|---|

Nominal |
$4,600 | $120,454,133.46 | 2,618,468.12% |

RealInflation Adjusted |
$4,600 | $4,625,716.83 | 100,459.06% |

Information displayed above may differ slightly from other S&P 500 calculators. Minor discrepancies can occur because we use the latest CPI data for inflation, annualized inflation numbers for previous years, and we compute S&P price and dividends from January of 1913 to latest available data for 2020 using average monthly close price.

For more details on the S&P 500 between 1913 and 2020, see the stock market returns calculator.

Politics and news often influence economic performance. Here's what was happening at the time:

- The House of Commons accepts Home Rule for Ireland.
- China's first parliament is opened in Beijing.
- The nation of Albania is formed.
- The Ford Motor Company introduces the first moving assembly line.

Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.

You may use the following MLA citation for this page: “$4,600 in 1913 → 2020 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 6 Aug. 2020, https://www.officialdata.org/us/inflation/1913?amount=4600.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

Cumulative price change | 2,504.01% |

Average inflation rate | 3.09% |

Converted amount ($4,600 base) | $119,784.46 |

Price difference ($4,600 base) | $115,184.46 |

CPI in 1913 | 9.900 |

CPI in 2020 | 257.797 |

Inflation in 1913 | 2.06% |

Inflation in 2020 | 0.65% |