# \$3,000 in 1920 → \$37,433.10 in 2018

## Inflation Calculator

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### U.S. Inflation Rate, 1920-2018 (\$3,000)

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, \$3,000 in the year 1920 is equivalent in purchasing power to \$37,433.10 in 2018, a difference of \$34,433.10 over 98 years.

Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, \$3,000 today would be equivalent to \$3,058.43 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 (\$3,000 base) \$34,433.10 CPI in 1920 20 CPI in 2018 249.554

#### Inflation rates for specific categories

Dental services · Wireless telephone services · Rent of primary residence · More

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

### How to calculate the inflation rate for \$3,000 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 * \$3,000 = \$37,433.10

\$3,000 in 1920 has the same "purchasing power" as \$37,433.10 in 2018.

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

• The League of Nations' first assembly takes place in Paris.
• The British Parliament passes the Fourth Home Rule Act, dividing Ireland into two parts and leading to a yearlong Anglo-Irish war in the southern counties.
• The Catholic Church canonizes Joan of Arc, formally making her a saint.
• The 19th Amendment to the constitution is ratified, granting U.S. woman suffrage for the first time.

### Inflation Data Source

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: “\$3,000 in 1920 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 26 May. 2018, https://www.officialdata.org/1920-dollars?amount=3000.