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# \$950 in 1913 → \$24,659.12 in 2020

### U.S. Inflation Rate, \$950 in 1913 to 2020

According to the Bureau of Labor Statistics consumer price index, today's prices in 2020 are 2,495.70% higher than average prices since 1913. The U.S. dollar experienced an average inflation rate of 3.09% per year during this period, meaning the real value of a dollar decreased.

In other words, \$950 in 1913 is equivalent in purchasing power to about \$24,659.12 in 2020, a difference of \$23,709.12 over 107 years.

The 1913 inflation rate was 2.06%. The current inflation rate (2019 to 2020) is now 2.29%1. If this number holds, \$950 today will be equivalent in buying power to \$971.71 next year. The current inflation rate page gives more detail on the latest official inflation rates.

 Cumulative price change 2,495.70% Average inflation rate 3.09% Converted amount (\$950 base) \$24,659.12 Price difference (\$950 base) \$23,709.12 CPI in 1913 9.900 CPI in 2020 256.974 Inflation in 1913 2.06% Inflation in 2020 2.29%

USD Inflation since 1913
Annual Rate, the Bureau of Labor Statistics CPI

### Buying power of \$950 in 1913

This chart shows a calculation of buying power equivalence for \$950 in 1913 (price index tracking began in 1635).

For example, if you started with \$950, you would need to end with \$24,659.12 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$950 is equivalent to \$24,659.12 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 \$950 buys less over the past 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:

Year Dollar Value Inflation Rate
1913 \$950.00 2.06%
1914 \$959.60 1.01%
1915 \$969.19 1.00%
1916 \$1,045.96 7.92%
1917 \$1,228.28 17.43%
1918 \$1,448.99 17.97%
1919 \$1,660.10 14.57%
1920 \$1,919.19 15.61%
1921 \$1,717.68 -10.50%
1922 \$1,612.12 -6.15%
1923 \$1,640.91 1.79%
1924 \$1,640.91 0.00%
1925 \$1,679.29 2.34%
1926 \$1,698.48 1.14%
1927 \$1,669.70 -1.69%
1928 \$1,640.91 -1.72%
1929 \$1,640.91 0.00%
1930 \$1,602.53 -2.34%
1931 \$1,458.59 -8.98%
1932 \$1,314.65 -9.87%
1933 \$1,247.47 -5.11%
1934 \$1,285.86 3.08%
1935 \$1,314.65 2.24%
1936 \$1,333.84 1.46%
1937 \$1,381.82 3.60%
1938 \$1,353.03 -2.08%
1939 \$1,333.84 -1.42%
1940 \$1,343.43 0.72%
1941 \$1,410.61 5.00%
1942 \$1,564.14 10.88%
1943 \$1,660.10 6.13%
1944 \$1,688.89 1.73%
1945 \$1,727.27 2.27%
1946 \$1,871.21 8.33%
1947 \$2,139.90 14.36%
1948 \$2,312.63 8.07%
1949 \$2,283.84 -1.24%
1950 \$2,312.63 1.26%
1951 \$2,494.95 7.88%
1952 \$2,542.93 1.92%
1953 \$2,562.12 0.75%
1954 \$2,581.31 0.75%
1955 \$2,571.72 -0.37%
1956 \$2,610.10 1.49%
1957 \$2,696.46 3.31%
1958 \$2,773.23 2.85%
1959 \$2,792.42 0.69%
1960 \$2,840.40 1.72%
1961 \$2,869.19 1.01%
1962 \$2,897.98 1.00%
1963 \$2,936.36 1.32%
1964 \$2,974.75 1.31%
1965 \$3,022.73 1.61%
1966 \$3,109.09 2.86%
1967 \$3,205.05 3.09%
1968 \$3,339.39 4.19%
1969 \$3,521.72 5.46%
1970 \$3,723.23 5.72%
1971 \$3,886.36 4.38%
1972 \$4,011.11 3.21%
1973 \$4,260.61 6.22%
1974 \$4,730.81 11.04%
1975 \$5,162.63 9.13%
1976 \$5,460.10 5.76%
1977 \$5,815.15 6.50%
1978 \$6,256.57 7.59%
1979 \$6,966.67 11.35%
1980 \$7,907.07 13.50%
1981 \$8,722.73 10.32%
1982 \$9,260.10 6.16%
1983 \$9,557.58 3.21%
1984 \$9,970.20 4.32%
1985 \$10,325.25 3.56%
1986 \$10,517.17 1.86%
1987 \$10,901.01 3.65%
1988 \$11,352.02 4.14%
1989 \$11,898.99 4.82%
1990 \$12,541.92 5.40%
1991 \$13,069.70 4.21%
1992 \$13,463.13 3.01%
1993 \$13,866.16 2.99%
1994 \$14,221.21 2.56%
1995 \$14,624.24 2.83%
1996 \$15,056.06 2.95%
1997 \$15,401.52 2.29%
1998 \$15,641.41 1.56%
1999 \$15,986.87 2.21%
2000 \$16,524.24 3.36%
2001 \$16,994.44 2.85%
2002 \$17,263.13 1.58%
2003 \$17,656.57 2.28%
2004 \$18,126.77 2.66%
2005 \$18,740.91 3.39%
2006 \$19,345.45 3.23%
2007 \$19,896.45 2.85%
2008 \$20,660.39 3.84%
2009 \$20,586.88 -0.36%
2010 \$20,924.57 1.64%
2011 \$21,585.06 3.16%
2012 \$22,031.75 2.07%
2013 \$22,354.46 1.46%
2014 \$22,717.09 1.62%
2015 \$22,744.06 0.12%
2016 \$23,030.97 1.26%
2017 \$23,521.62 2.13%
2018 \$24,107.93 2.49%
2019 \$24,532.79 1.76%
2020 \$24,659.12 0.51%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 101 more rows

### Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £950.00 in 1913 would be equivalent to £110,339.92 in 2020, an absolute change of £109,389.92 and a cumulative change of 11,514.73%.

Compare these numbers to the US's overall absolute change of \$23,709.12 and total percent change of 2,495.70%.

### Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. 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 (%) \$950 in 1913 → 2020
Food and beverages 3.92 6,001.31 57,962.46
Housing 4.23 8,348.03 80,256.26
Apparel 2.02 749.38 8,069.06
Transportation 3.26 2,993.49 29,388.17
Medical care 5.14 21,139.92 201,779.26
Recreation 1.10 221.14 3,050.85
Education and communication 1.85 610.36 6,748.40
Other goods and services 5.04 19,091.82 182,322.27

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.

### How to Calculate Inflation Rate for \$950 since 1913

This inflation calculator uses the following inflation rate formula:

CPI in 2020CPI in 1913
×
1913 USD value
=
2020 USD value

Then plug in historical CPI values. The U.S. CPI was 9.9 in the year 1913 and 256.974 in 2020:

256.9749.9
×
\$950
=
\$24,659.12

\$950 in 1913 has the same "purchasing power" or "buying power" as \$24,659.12 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
=
Cumulative inflation rate (107 years)

Plugging in the values to this equation, we get:

256.974 - 9.99.9
×
100
=
2,496%

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.

### Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (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: “\$950 in 1913 → 2020 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Jan. 2020, https://www.officialdata.org/us/inflation/1913?amount=950.