\$1 in 1945 → \$1.24 in 1947

Inflation Calculator

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U.S. Inflation Rate, \$1 from 1945 to 1947

According to the Bureau of Labor Statistics consumer price index, prices in 1947 are 23.89% higher than average prices since 1945. The U.S. dollar experienced an average inflation rate of 11.31% per year during this period, meaning the real value of a dollar decreased.

In other words, \$1 in 1945 is equivalent in purchasing power to about \$1.24 in 1947, a difference of \$0.24 over 2 years.

The 1945 inflation rate was 2.27%. The inflation rate in 1947 was 14.36%. The 1947 inflation rate is higher compared to the average inflation rate of 3.41% per year between 1947 and 2020.

 Cumulative price change 23.89% Average inflation rate 11.31% Converted amount (\$1 base) \$1.24 Price difference (\$1 base) \$0.24 CPI in 1945 18.000 CPI in 1947 22.300 Inflation in 1945 2.27% Inflation in 1947 14.36%

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

Buying power of \$1 in 1945

This chart shows a calculation of buying power equivalence for \$1 in 1945 (price index tracking began in 1635).

For example, if you started with \$1, you would need to end with \$1.24 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$1 is equivalent to \$1.24 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 1945 dollars, the chart below shows how \$1 buys less over the past 2 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
1945 \$1.00 2.27%
1946 \$1.08 8.33%
1947 \$1.24 14.36%
1948 \$1.34 8.07%
1949 \$1.32 -1.24%
1950 \$1.34 1.26%
1951 \$1.44 7.88%
1952 \$1.47 1.92%
1953 \$1.48 0.75%
1954 \$1.49 0.75%
1955 \$1.49 -0.37%
1956 \$1.51 1.49%
1957 \$1.56 3.31%
1958 \$1.61 2.85%
1959 \$1.62 0.69%
1960 \$1.64 1.72%
1961 \$1.66 1.01%
1962 \$1.68 1.00%
1963 \$1.70 1.32%
1964 \$1.72 1.31%
1965 \$1.75 1.61%
1966 \$1.80 2.86%
1967 \$1.86 3.09%
1968 \$1.93 4.19%
1969 \$2.04 5.46%
1970 \$2.16 5.72%
1971 \$2.25 4.38%
1972 \$2.32 3.21%
1973 \$2.47 6.22%
1974 \$2.74 11.04%
1975 \$2.99 9.13%
1976 \$3.16 5.76%
1977 \$3.37 6.50%
1978 \$3.62 7.59%
1979 \$4.03 11.35%
1980 \$4.58 13.50%
1981 \$5.05 10.32%
1982 \$5.36 6.16%
1983 \$5.53 3.21%
1984 \$5.77 4.32%
1985 \$5.98 3.56%
1986 \$6.09 1.86%
1987 \$6.31 3.65%
1988 \$6.57 4.14%
1989 \$6.89 4.82%
1990 \$7.26 5.40%
1991 \$7.57 4.21%
1992 \$7.79 3.01%
1993 \$8.03 2.99%
1994 \$8.23 2.56%
1995 \$8.47 2.83%
1996 \$8.72 2.95%
1997 \$8.92 2.29%
1998 \$9.06 1.56%
1999 \$9.26 2.21%
2000 \$9.57 3.36%
2001 \$9.84 2.85%
2002 \$9.99 1.58%
2003 \$10.22 2.28%
2004 \$10.49 2.66%
2005 \$10.85 3.39%
2006 \$11.20 3.23%
2007 \$11.52 2.85%
2008 \$11.96 3.84%
2009 \$11.92 -0.36%
2010 \$12.11 1.64%
2011 \$12.50 3.16%
2012 \$12.76 2.07%
2013 \$12.94 1.46%
2014 \$13.15 1.62%
2015 \$13.17 0.12%
2016 \$13.33 1.26%
2017 \$13.62 2.13%
2018 \$13.96 2.49%
2019 \$14.20 1.76%
2020 \$14.33 0.90%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

Inflation by City

Inflation can vary widely by city, even within the United States. Here's how some cities fared in 1945 to 1947 (figures shown are purchasing power equivalents of \$1):

Houston, Texas experienced the highest rate of inflation during the 2 years between 1945 and 1947 (12.63%).

Seattle, Washington experienced the lowest rate of inflation during the 2 years between 1945 and 1947 (10.04%).

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 1945 would be equivalent to £1.10 in 1947, an absolute change of £0.10 and a cumulative change of 10.31%.

In Canada, CA\$1.00 in 1945 would be equivalent to CA\$1.21 in 1947, an absolute change of CA\$0.21 and a cumulative change of 20.65%.

Compare these numbers to the US's overall absolute change of \$0.24 and total percent change of 23.89%.

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 1945 and 1947.

Compare these values to the overall average of 11.31% per year:

Category Avg Inflation (%) Total Inflation (%) \$1 in 1945 → 1947
Food and beverages 0.00 0.00 1.00
Housing 0.00 0.00 1.00
Apparel 12.77 27.17 1.27
Transportation 7.73 16.06 1.16
Medical care 0.00 0.00 0.00
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 1945. This table and charts use the earliest available data for each category.

How to Calculate Inflation Rate for \$1, 1945 to 1947

This inflation calculator uses the following inflation rate formula:

CPI in 1947CPI in 1945
×
1945 USD value
=
1947 USD value

Then plug in historical CPI values. The U.S. CPI was 18 in the year 1945 and 22.3 in 1947:

22.318
×
\$1
=
\$1.24

\$1 in 1945 has the same "purchasing power" or "buying power" as \$1.24 in 1947.

To get the total inflation rate for the 2 years between 1945 and 1947, we use the following formula:

CPI in 1947 - CPI in 1945CPI in 1945
×
100
=
Cumulative inflation rate (2 years)

Plugging in the values to this equation, we get:

22.3 - 1818
×
100
=
24%

Comparison to S&P 500 Index

The average inflation rate of 11.31% has a compounding effect between 1945 and 1947. As noted above, this yearly inflation rate compounds to produce an overall price difference of 23.89% over 2 years.

To help put this inflation into perspective, if we had invested \$1 in the S&P 500 index in 1945, our investment would be nominally worth approximately \$1.26 in 1947. This is a return on investment of 25.69%, with an absolute return of \$0.26 on top of the original \$1.

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 19.28% of returns (\$0.24) during this period. This means the inflation-adjusted real return of our \$1 investment is \$0.01. You may also want to account for capital gains tax, which would take your real return down to around \$0 for most people.

Investment in S&P 500 Index, 1945-1947
Original Amount Final Amount Change
Nominal \$1 \$1.26 25.69%
Real
\$1 \$1.01 1.45%

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 1945 to latest available data for 1947 using average monthly close price.

For more details on the S&P 500 between 1945 and 1947, see the stock market returns calculator.

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

• The USSR captures Budapest from Germany in a battle that kills 159,000 people.
• The US Fleet captures Iwo Jima.
• 1,500 US Navy ships bomb Okinawa: the operation is believed to be the largest of World War II
• Iwo Jima is occupied by America, costing 6,000 American lives and a further 18,000 Japanese lives.
• Buchenwald, the first Nazi concentration camp, is liberated.

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 1945 → 1947 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Feb. 2020, https://www.officialdata.org/us/inflation/1945?amount=1&endYear=1947.

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

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.

 Cumulative price change 23.89% Average inflation rate 11.31% Converted amount (\$1 base) \$1.24 Price difference (\$1 base) \$0.24 CPI in 1945 18.000 CPI in 1947 22.300 Inflation in 1945 2.27% Inflation in 1947 14.36%