$1 in 1935 is worth $1.11 in 1931

Value of $1 from 1935 to 1931

According to the Bureau of Labor Statistics consumer price index, prices in 1931 are 10.95% higher than average prices since 1935. The U.S. dollar experienced an average deflation rate of -2.56% per year during this period, causing the real value of a dollar to increase.

In other words, $1 in 1935 is equivalent in purchasing power to about $1.11 in 1931, a difference of $0.11 over 4 years.

The 1931 inflation rate was -8.98%. The inflation rate in 1935 was 2.24%. The 1935 inflation rate is lower compared to the average inflation rate of 3.52% per year between 1935 and 2020.


Inflation from 1935 to 1931
Cumulative price change 10.95%
Average inflation rate -2.56%
Converted amount ($1 base) $1.11
Price difference ($1 base) $0.11
CPI in 1935 13.700
CPI in 1931 15.200
Inflation in 1931 -8.98%
Inflation in 1935 2.24%

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

Buying power of $1 in 1931

This chart shows a calculation of buying power equivalence for $1 in 1931 (price index tracking began in 1635).

For example, if you started with $1, you would need to end with $1.11 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: 1931-1935
Year Dollar Value Inflation Rate
1931 $1.00 -8.98%
1932 $0.90 -9.87%
1933 $0.86 -5.11%
1934 $0.88 3.08%
1935 $0.90 2.24%
1936 $0.91 1.46%
1937 $0.95 3.60%
1938 $0.93 -2.08%
1939 $0.91 -1.42%
1940 $0.92 0.72%
1941 $0.97 5.00%
1942 $1.07 10.88%
1943 $1.14 6.13%
1944 $1.16 1.73%
1945 $1.18 2.27%
1946 $1.28 8.33%
1947 $1.47 14.36%
1948 $1.59 8.07%
1949 $1.57 -1.24%
1950 $1.59 1.26%
1951 $1.71 7.88%
1952 $1.74 1.92%
1953 $1.76 0.75%
1954 $1.77 0.75%
1955 $1.76 -0.37%
1956 $1.79 1.49%
1957 $1.85 3.31%
1958 $1.90 2.85%
1959 $1.91 0.69%
1960 $1.95 1.72%
1961 $1.97 1.01%
1962 $1.99 1.00%
1963 $2.01 1.32%
1964 $2.04 1.31%
1965 $2.07 1.61%
1966 $2.13 2.86%
1967 $2.20 3.09%
1968 $2.29 4.19%
1969 $2.41 5.46%
1970 $2.55 5.72%
1971 $2.66 4.38%
1972 $2.75 3.21%
1973 $2.92 6.22%
1974 $3.24 11.04%
1975 $3.54 9.13%
1976 $3.74 5.76%
1977 $3.99 6.50%
1978 $4.29 7.59%
1979 $4.78 11.35%
1980 $5.42 13.50%
1981 $5.98 10.32%
1982 $6.35 6.16%
1983 $6.55 3.21%
1984 $6.84 4.32%
1985 $7.08 3.56%
1986 $7.21 1.86%
1987 $7.47 3.65%
1988 $7.78 4.14%
1989 $8.16 4.82%
1990 $8.60 5.40%
1991 $8.96 4.21%
1992 $9.23 3.01%
1993 $9.51 2.99%
1994 $9.75 2.56%
1995 $10.03 2.83%
1996 $10.32 2.95%
1997 $10.56 2.29%
1998 $10.72 1.56%
1999 $10.96 2.21%
2000 $11.33 3.36%
2001 $11.65 2.85%
2002 $11.84 1.58%
2003 $12.11 2.28%
2004 $12.43 2.66%
2005 $12.85 3.39%
2006 $13.26 3.23%
2007 $13.64 2.85%
2008 $14.16 3.84%
2009 $14.11 -0.36%
2010 $14.35 1.64%
2011 $14.80 3.16%
2012 $15.10 2.07%
2013 $15.33 1.46%
2014 $15.57 1.62%
2015 $15.59 0.12%
2016 $15.79 1.26%
2017 $16.13 2.13%
2018 $16.53 2.49%
2019 $16.82 1.76%
2020 $17.12 1.81%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1931 amounts in 1935 dollars, based on the 10.95% change in prices:

Conversion Table: Value of a dollar in 1935
Initial value Equivalent value
$1 dollar in 1931 $0.90 dollars in 1935
$5 dollars in 1931 $4.51 dollars in 1935
$10 dollars in 1931 $9.01 dollars in 1935
$50 dollars in 1931 $45.07 dollars in 1935
$100 dollars in 1931 $90.13 dollars in 1935
$500 dollars in 1931 $450.66 dollars in 1935
$1,000 dollars in 1931 $901.32 dollars in 1935
$5,000 dollars in 1931 $4,506.58 dollars in 1935
$10,000 dollars in 1931 $9,013.16 dollars in 1935
$50,000 dollars in 1931 $45,065.79 dollars in 1935
$100,000 dollars in 1931 $90,131.58 dollars in 1935
$500,000 dollars in 1931 $450,657.89 dollars in 1935
$1,000,000 dollars in 1931 $901,315.79 dollars in 1935

Inflation by City

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1935 to 1931 (figures shown are purchasing power equivalents of $1):

San Francisco, California experienced the highest rate of inflation during the 4 years between 1931 and 1935 (-2.22%).

Chicago, Illinois experienced the lowest rate of inflation during the 4 years between 1931 and 1935 (-4.51%).

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 1935 would be equivalent to £1.04 in 1931, an absolute change of £0.04 and a cumulative change of 4.40%.

In Canada, CA$1.00 in 1935 would be equivalent to CA$1.07 in 1931, an absolute change of CA$0.07 and a cumulative change of 6.76%.

Compare these numbers to the US's overall absolute change of $0.11 and total percent change of 10.95%.


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 1935 and 1931.

Compare these values to the overall average of -2.56% per year:

Category Avg Inflation (%) Total Inflation (%) $1 in 1931 → 1935
Food and beverages 0.00 0.00 1.00
Housing 0.00 0.00 1.00
Apparel -0.94 -3.70 0.96
Transportation 0.00 0.00 0.00
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 1935. This table and charts use the earliest available data for each category.



How to Calculate Inflation Rate for $1, 1931 to 1935

Our calculations use the following inflation rate formula to calculate the change in value between 1931 and 1935:

CPI in 1931 CPI in 1935
×
1935 USD value
=
1931 USD value

Then plug in historical CPI values. The U.S. CPI was 13.7 in the year 1935 and 15.2 in 1931:

15.213.7
×
$1
=
$1.11

$1 in 1935 has the same "purchasing power" or "buying power" as $1.11 in 1931.

To get the total inflation rate for the 4 years between 1931 and 1935, we use the following formula:

CPI in 1931 - CPI in 1935CPI in 1935
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

15.2 - 13.713.7
×
100
=
11%

News headlines from 1931

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

  • Hitler violates the Treaty of Versailles by ordering German rearmament.
  • In an event known as "Black Sunday", a severe sandstorm strikes the US Midwest, coining the term "Dust Bowl".
  • Communist forces end their Long March bringing Mao Zedong to prominence.
  • First trans-pacific airmail flight by a flying boat the "China Clipper" that took off from Alameda, California

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 1935 → 1931 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Oct. 2020, https://www.officialdata.org/us/inflation/1935?amount=1&endYear=1931.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1935 to 1931
Cumulative price change 10.95%
Average inflation rate -2.56%
Converted amount ($1 base) $1.11
Price difference ($1 base) $0.11
CPI in 1935 13.700
CPI in 1931 15.200
Inflation in 1931 -8.98%
Inflation in 1935 2.24%