# \$1,000,000 in 1920 → \$12,477,700.00 in 2018

## Inflation Calculator

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### U.S. Inflation Rate, 1920-2018 (\$1,000,000)

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.61% per year. Prices in 2018 are 1147.8% higher than prices in 1920.

In other words, \$1,000,000 in the year 1920 is equivalent in purchasing power to \$12,477,700.00 in 2018, a difference of \$11,477,700.00 over 98 years.

Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, \$1,000,000 today would be equivalent to \$1,019,478.24 next year. The current inflation rate page gives more detail on the latest official inflation rates.

 Cumulative price change 1147.77% Average inflation rate 2.61% Price difference (\$1,000,000 base) \$11,477,700.00 CPI in 1920 20 CPI in 2018 249.554

#### Inflation rates for specific categories

Housing · Parking fees and tolls · Medical care · More

S&P 500 price · S&P 500 earnings · Shiller P/E

### How to calculate the inflation rate for \$1,000,000 since 1920

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1920 * 1920 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 20 in the year 1920 and 249.554 in 2018:

249.554 / 20 * \$1,000,000 = \$12,477,700.00

\$1,000,000 in 1920 has the same "purchasing power" as \$12,477,700.00 in 2018.