$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.

Inflation from 1920 to 2018
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


U.S. inflation from 1913 to 2017


Inflation rates for specific categories

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

Inflation-adjusted measures

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.


News headlines from 1920

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.


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