According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.12% per year. Prices in 2018 are 1394.3% higher than prices in 1930.
In other words, $500 in the year 1930 is equivalent in purchasing power to $7,471.68 in 2018, a difference of $6,971.68 over 88 years.
Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, $500 today would be equivalent to $509.74 next year. The current inflation rate page gives more detail on the latest official inflation rates.
|Cumulative price change||1394.34%|
|Average inflation rate||3.12%|
|Price difference ($500 base)||$6,971.68|
|CPI in 1930||16.7|
|CPI in 2018||249.554|
Politics and news often influence economic performance. Here's what was happening at the time:
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (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: “$500 in 1930 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 19 May. 2018, https://www.officialdata.org/1930-dollars?amount=500.