$3,300 in 1903 → $94,514.25 in 2018

Inflation Calculator

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U.S. Inflation Rate, $3,300 in 1903 to 2018

According to the Bureau of Labor Statistics consumer price index, prices in 2018 are 2,764.07% higher than prices in 1903. The dollar experienced an average inflation rate of 2.96% per year during this period.

In other words, $3,300 in 1903 is equivalent in purchasing power to $94,514.25 in 2018, a difference of $91,214.25 over 115 years.

The 1903 inflation rate was 2.33%. The current inflation rate (2017 to 2018) is now 2.18%1. If this number holds, $3,300 today will be equivalent to $3,371.83 next year. The current inflation rate page gives more detail on the latest official inflation rates.


Inflation from 1903 to 2018
Cumulative price change 2,764.07%
Average inflation rate 2.96%
Converted amount ($3,300 base) $94,514.25
Price difference ($3,300 base) $91,214.25
CPI in 1903 8.800
CPI in 2018 252.038
Inflation in 1903 2.33%
Inflation in 2018 2.18%


U.S. inflation chart since 1665


Buying power of $3,300 since 1903

This chart shows calculations of buying power equivalence over time for $3,300 in 1903 (price index tracking began in 1635).

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 USD Value Inflation Rate
1903 $3,300.00 2.33%
1904 $3,337.50 1.14%
1905 $3,300.00 -1.12%
1906 $3,375.00 2.27%
1907 $3,525.00 4.44%
1908 $3,450.00 -2.13%
1909 $3,412.50 -1.09%
1910 $3,562.50 4.40%
1911 $3,562.50 0.00%
1912 $3,637.50 2.11%
1913 $3,712.50 2.06%
1914 $3,750.00 1.01%
1915 $3,787.50 1.00%
1916 $4,087.50 7.92%
1917 $4,800.00 17.43%
1918 $5,662.50 17.97%
1919 $6,487.50 14.57%
1920 $7,500.00 15.61%
1921 $6,712.50 -10.50%
1922 $6,300.00 -6.15%
1923 $6,412.50 1.79%
1924 $6,412.50 0.00%
1925 $6,562.50 2.34%
1926 $6,637.50 1.14%
1927 $6,525.00 -1.69%
1928 $6,412.50 -1.72%
1929 $6,412.50 0.00%
1930 $6,262.50 -2.34%
1931 $5,700.00 -8.98%
1932 $5,137.50 -9.87%
1933 $4,875.00 -5.11%
1934 $5,025.00 3.08%
1935 $5,137.50 2.24%
1936 $5,212.50 1.46%
1937 $5,400.00 3.60%
1938 $5,287.50 -2.08%
1939 $5,212.50 -1.42%
1940 $5,250.00 0.72%
1941 $5,512.50 5.00%
1942 $6,112.50 10.88%
1943 $6,487.50 6.13%
1944 $6,600.00 1.73%
1945 $6,750.00 2.27%
1946 $7,312.50 8.33%
1947 $8,362.50 14.36%
1948 $9,037.50 8.07%
1949 $8,925.00 -1.24%
1950 $9,037.50 1.26%
1951 $9,750.00 7.88%
1952 $9,937.50 1.92%
1953 $10,012.50 0.75%
1954 $10,087.50 0.75%
1955 $10,050.00 -0.37%
1956 $10,200.00 1.49%
1957 $10,537.50 3.31%
1958 $10,837.50 2.85%
1959 $10,912.50 0.69%
1960 $11,100.00 1.72%
1961 $11,212.50 1.01%
1962 $11,325.00 1.00%
1963 $11,475.00 1.32%
1964 $11,625.00 1.31%
1965 $11,812.50 1.61%
1966 $12,150.00 2.86%
1967 $12,525.00 3.09%
1968 $13,050.00 4.19%
1969 $13,762.50 5.46%
1970 $14,550.00 5.72%
1971 $15,187.50 4.38%
1972 $15,675.00 3.21%
1973 $16,650.00 6.22%
1974 $18,487.50 11.04%
1975 $20,175.00 9.13%
1976 $21,337.50 5.76%
1977 $22,725.00 6.50%
1978 $24,450.00 7.59%
1979 $27,225.00 11.35%
1980 $30,900.00 13.50%
1981 $34,087.50 10.32%
1982 $36,187.50 6.16%
1983 $37,350.00 3.21%
1984 $38,962.50 4.32%
1985 $40,350.00 3.56%
1986 $41,100.00 1.86%
1987 $42,600.00 3.65%
1988 $44,362.50 4.14%
1989 $46,500.00 4.82%
1990 $49,012.50 5.40%
1991 $51,075.00 4.21%
1992 $52,612.50 3.01%
1993 $54,187.50 2.99%
1994 $55,575.00 2.56%
1995 $57,150.00 2.83%
1996 $58,837.50 2.95%
1997 $60,187.50 2.29%
1998 $61,125.00 1.56%
1999 $62,475.00 2.21%
2000 $64,575.00 3.36%
2001 $66,412.50 2.85%
2002 $67,462.50 1.58%
2003 $69,000.00 2.28%
2004 $70,837.50 2.66%
2005 $73,237.50 3.39%
2006 $75,600.00 3.23%
2007 $77,753.25 2.85%
2008 $80,738.63 3.84%
2009 $80,451.38 -0.36%
2010 $81,771.00 1.64%
2011 $84,352.12 3.16%
2012 $86,097.75 2.07%
2013 $87,358.87 1.46%
2014 $88,776.00 1.62%
2015 $88,881.37 0.12%
2016 $90,002.63 1.26%
2017 $91,920.00 2.13%
2018 $94,514.25 2.82%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £3,300.00 in 1903 would be equivalent to £389,709.37 in 2018, an absolute change of £386,409.37 and a cumulative change of 11,709.37%.

Compare these numbers to the US's overall absolute change of $91,214.25 and total percent change of 2,764.07%.


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 1903 and 2018.

Compare these values to the overall average of 2.96% per year:

Category Avg Inflation (%) Total Inflation (%) $3,300 in 1903 → 2018
Food 3.13 3,376.89 114,737.26
Shelter 4.10 10,114.21 337,069.07
Energy 3.89 7,965.64 266,166.12
Apparel 2.05 937.39 34,233.92
New vehicles 1.05 233.88 11,018.08
Used cars and trucks 0.61 102.18 6,671.90
Transportation services 3.35 4,298.43 145,148.32
Medical care services 5.11 30,695.64 1,016,256.04
Medical care commodities 4.28 12,357.18 411,087.02

It's important to note that not all categories may be tracked since 1903. This table and visualization use the earliest available data for each category.



How to Calculate Inflation Rate for $3,300 since 1903

This inflation calculator uses the following inflation rate formula:

CPI in 2018CPI in 1903
×
1903 USD value
=
2018 USD value

Then plug in historical CPI values. The U.S. CPI was 8.8 in the year 1903 and 252.038 in 2018:

252.0388.8
×
$3,300
=
$94,514.25

$3,300 in 1903 has the same "purchasing power" or "buying power" as $94,514.25 in 2018.

To get the total inflation rate for the 115 years between 1903 and 2018, we use the following formula:

CPI in 2018 - CPI in 1903CPI in 1903
×
100
=
Cumulative inflation rate (115 years)

Plugging in the values to this equation, we get:

252.038 - 8.88.8
×
100
=
2,764%

Comparison to S&P 500 Index

The average inflation rate of 2.96% has a compounding effect between 1903 and 2018. As noted above, this yearly inflation rate compounds to produce an overall price difference of 2,764.07% over 115 years.

To help put this inflation into perspective, if we had invested $3,300 in the S&P 500 index in 1903, our investment would be nominally worth approximately $121,235,335.49 in 2018. This is a return on investment of 3,673,698.05%, with an absolute return of $121,232,035.49.

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 96.51% of returns ($116,999,174.13) during this period. This means the inflation-adjusted real return of our $3,300 investment is $4,232,861.36.

Investment in S&P 500 Index, 1903-2018
Original Amount Final Amount Change
Nominal $3,300 $121,235,335.49 3,673,698.05%
Real
Inflation Adjusted
$3,300 $4,232,861.36 128,268.53%


News headlines from 1903

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

  • The British gain control over 500,000 square miles of Nigerian land after the fall of the Sokoto Caliphate.
  • The typhoid vaccine is discovered by Doctor Harry Plotz.
  • The Pulitzer Prizes are established after Joe Pulitzer's $1 million donation to Columbia University.

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: “$3,300 in 1903 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 Dec. 2018, https://www.officialdata.org/1903-dollars-in-2018?amount=3300.


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