# \$1 in 1930 is worth \$1.02 in 1928

\$

## Value of \$1 from 1930 to 1928

\$1 in 1930 is equivalent in purchasing power to about \$1.02 in 1928, a difference of \$0.02 over 2 years. The dollar had an average deflation rate of -1.18% per year since 1928, producing a cumulative price change of 2.40%.

This means that prices in 1928 are 1.02 times higher than average prices since 1930, according to the Bureau of Labor Statistics consumer price index.

The 1928 inflation rate was -1.72%. The inflation rate in 1930 was -2.34%. The 1930 inflation rate is lower compared to the average inflation rate of 3.13% per year between 1930 and 2021.

 Cumulative price change 2.40% Average inflation rate -1.18% Converted amount (\$1 base) \$1.02 Price difference (\$1 base) \$0.02 CPI in 1930 16.700 CPI in 1928 17.100 Inflation in 1928 -1.72% Inflation in 1930 -2.34% \$1 in 1930 \$1.02 in 1928

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

## Buying power of \$1 in 1928

This chart shows a calculation of buying power equivalence for \$1 in 1928 (price index tracking began in 1635).

For example, if you started with \$1, you would need to end with \$1.02 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

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:

Dollar inflation: 1928-1930
Year Dollar Value Inflation Rate
1928 \$1.00 -1.72%
1929 \$1.00 0.00%
1930 \$0.98 -2.34%
1931 \$0.89 -8.98%
1932 \$0.80 -9.87%
1933 \$0.76 -5.11%
1934 \$0.78 3.08%
1935 \$0.80 2.24%
1936 \$0.81 1.46%
1937 \$0.84 3.60%
1938 \$0.82 -2.08%
1939 \$0.81 -1.42%
1940 \$0.82 0.72%
1941 \$0.86 5.00%
1942 \$0.95 10.88%
1943 \$1.01 6.13%
1944 \$1.03 1.73%
1945 \$1.05 2.27%
1946 \$1.14 8.33%
1947 \$1.30 14.36%
1948 \$1.41 8.07%
1949 \$1.39 -1.24%
1950 \$1.41 1.26%
1951 \$1.52 7.88%
1952 \$1.55 1.92%
1953 \$1.56 0.75%
1954 \$1.57 0.75%
1955 \$1.57 -0.37%
1956 \$1.59 1.49%
1957 \$1.64 3.31%
1958 \$1.69 2.85%
1959 \$1.70 0.69%
1960 \$1.73 1.72%
1961 \$1.75 1.01%
1962 \$1.77 1.00%
1963 \$1.79 1.32%
1964 \$1.81 1.31%
1965 \$1.84 1.61%
1966 \$1.89 2.86%
1967 \$1.95 3.09%
1968 \$2.04 4.19%
1969 \$2.15 5.46%
1970 \$2.27 5.72%
1971 \$2.37 4.38%
1972 \$2.44 3.21%
1973 \$2.60 6.22%
1974 \$2.88 11.04%
1975 \$3.15 9.13%
1976 \$3.33 5.76%
1977 \$3.54 6.50%
1978 \$3.81 7.59%
1979 \$4.25 11.35%
1980 \$4.82 13.50%
1981 \$5.32 10.32%
1982 \$5.64 6.16%
1983 \$5.82 3.21%
1984 \$6.08 4.32%
1985 \$6.29 3.56%
1986 \$6.41 1.86%
1987 \$6.64 3.65%
1988 \$6.92 4.14%
1989 \$7.25 4.82%
1990 \$7.64 5.40%
1991 \$7.96 4.21%
1992 \$8.20 3.01%
1993 \$8.45 2.99%
1994 \$8.67 2.56%
1995 \$8.91 2.83%
1996 \$9.18 2.95%
1997 \$9.39 2.29%
1998 \$9.53 1.56%
1999 \$9.74 2.21%
2000 \$10.07 3.36%
2001 \$10.36 2.85%
2002 \$10.52 1.58%
2003 \$10.76 2.28%
2004 \$11.05 2.66%
2005 \$11.42 3.39%
2006 \$11.79 3.23%
2007 \$12.13 2.85%
2008 \$12.59 3.84%
2009 \$12.55 -0.36%
2010 \$12.75 1.64%
2011 \$13.15 3.16%
2012 \$13.43 2.07%
2013 \$13.62 1.46%
2014 \$13.84 1.62%
2015 \$13.86 0.12%
2016 \$14.04 1.26%
2017 \$14.33 2.13%
2018 \$14.69 2.49%
2019 \$14.95 1.76%
2020 \$15.14 1.23%
2021 \$16.17 6.87%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1928 amounts in 1930 dollars, based on the 2.40% change in prices:

Conversion: 1928 dollars in 1930
Initial value Equivalent value
\$1 dollar in 1928 \$0.98 dollars in 1930
\$5 dollars in 1928 \$4.88 dollars in 1930
\$10 dollars in 1928 \$9.77 dollars in 1930
\$50 dollars in 1928 \$48.83 dollars in 1930
\$100 dollars in 1928 \$97.66 dollars in 1930
\$500 dollars in 1928 \$488.30 dollars in 1930
\$1,000 dollars in 1928 \$976.61 dollars in 1930
\$5,000 dollars in 1928 \$4,883.04 dollars in 1930
\$10,000 dollars in 1928 \$9,766.08 dollars in 1930
\$50,000 dollars in 1928 \$48,830.41 dollars in 1930
\$100,000 dollars in 1928 \$97,660.82 dollars in 1930
\$500,000 dollars in 1928 \$488,304.09 dollars in 1930
\$1,000,000 dollars in 1928 \$976,608.19 dollars in 1930

## Inflation by City

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1930 to 1928 (figures shown are purchasing power equivalents of \$1):

Seattle, Washington experienced the highest rate of inflation during the 2 years between 1928 and 1930 (0.19%).

Atlanta, Georgia experienced the lowest rate of inflation during the 2 years between 1928 and 1930 (-1.80%).

Note that some locations showing 0% inflation may have not yet reported latest data.

## Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £1.00 in 1930 would be equivalent to £1.04 in 1928, an absolute change of £0.04 and a cumulative change of 4.05%.

In Canada, CA\$1.00 in 1930 would be equivalent to CA\$1.05 in 1928, an absolute change of CA\$0.05 and a cumulative change of 4.55%.

Compare these numbers to the US's overall absolute change of \$0.02 and total percent change of 2.40%.

## Inflation by Spending Category

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 1930 and 1928.

Compare these values to the overall average of -1.18% per year:

Category Avg Inflation (%) Total Inflation (%) \$1 in 1928 → 1930
Food and beverages 0.00 0.00 1.00
Housing 0.00 0.00 1.00
Apparel -1.82 -3.60 0.96
Transportation 0.00 0.00 1.00
Medical care 0.00 0.00 1.00
Recreation 0.00 0.00 1.00
Education and communication 0.00 0.00 1.00
Other goods and services 0.00 0.00 1.00

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 1930. This table and charts use the earliest available data for each category.

## How to Calculate Inflation Rate for \$1, 1928 to 1930

Our calculations use the following inflation rate formula to calculate the change in value between 1928 and 1930:

CPI in 1928 CPI in 1930
×
1930 USD value
=
1928 USD value

Then plug in historical CPI values. The U.S. CPI was 16.7 in the year 1930 and 17.1 in 1928:

17.116.7
×
\$1
=
\$1.02

\$1 in 1930 has the same "purchasing power" or "buying power" as \$1.02 in 1928.

To get the total inflation rate for the 2 years between 1928 and 1930, we use the following formula:

CPI in 1928 - CPI in 1930CPI in 1930
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

17.1 - 16.716.7
×
100
=
2%

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

• Mohandas Gandhi protests British salt tax by a 200-mile-long walk.
• Clyde Tombaugh discovers Pluto.
• Lawrence Hyland discovers the first radar by accident.
• Roald Amundsen's leads the first expedition to reach the South Pole.
• American explorer Hiram Bingham discovers Machu Picchu.

## 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: “\$1 in 1930 → 1928 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 3 Dec. 2021, https://www.officialdata.org/us/inflation/1930?amount=1&endYear=1928.

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.