$1 in 1940 → $17.97 in 2018

Inflation Calculator

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U.S. Inflation Rate, $1 in 1940 to 2018

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.77% per year. Prices in 2018 are 1697.0% higher than prices in 1940.

In other words, $1 in 1940 is equivalent in purchasing power to $17.97 in 2018, a difference of $16.97 over 78 years.

The current inflation rate is now 2.80%1. If this number holds, $1 today will be equivalent to $1.03 next year. The current inflation rate page gives more detail on the latest official inflation rates.

Inflation from 1940 to 2018
Cumulative price change 1697.00%
Average inflation rate 3.77%
Converted amount ($1 base) $17.97
Price difference ($1 base) $16.97
CPI in 1940 14
CPI in 2018 251.59


U.S. inflation from 1913 to 2018


Inflation rates for specific categories

Bread · Wine at home · Gasoline (all types) · More

Inflation-adjusted measures

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

How to calculate the inflation rate for $1 since 1940

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1940 * 1940 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 14 in the year 1940 and 251.59 in 2018:

251.59 / 14 * $1 = $17.97

$1 in 1940 has the same "purchasing power" or "buying power" as $17.97 in 2018.


Here are calculations of buying power over time for $1 in 1940 (price index tracking began in 1913). Each of these USD amounts below is equivalent in terms of what it could buy at the time:
Year USD Value Inflation Rate
1940 $1.00 0.72%
1941 $1.05 5.00%
1942 $1.16 10.88%
1943 $1.24 6.13%
1944 $1.26 1.73%
1945 $1.29 2.27%
1946 $1.39 8.33%
1947 $1.59 14.36%
1948 $1.72 8.07%
1949 $1.70 -1.24%
1950 $1.72 1.26%
1951 $1.86 7.88%
1952 $1.89 1.92%
1953 $1.91 0.75%
1954 $1.92 0.75%
1955 $1.91 -0.37%
1956 $1.94 1.49%
1957 $2.01 3.31%
1958 $2.06 2.85%
1959 $2.08 0.69%
1960 $2.11 1.72%
1961 $2.14 1.01%
1962 $2.16 1.00%
1963 $2.19 1.32%
1964 $2.21 1.31%
1965 $2.25 1.61%
1966 $2.31 2.86%
1967 $2.39 3.09%
1968 $2.49 4.19%
1969 $2.62 5.46%
1970 $2.77 5.72%
1971 $2.89 4.38%
1972 $2.99 3.21%
1973 $3.17 6.22%
1974 $3.52 11.04%
1975 $3.84 9.13%
1976 $4.06 5.76%
1977 $4.33 6.50%
1978 $4.66 7.59%
1979 $5.19 11.35%
1980 $5.89 13.50%
1981 $6.49 10.32%
1982 $6.89 6.16%
1983 $7.11 3.21%
1984 $7.42 4.32%
1985 $7.69 3.56%
1986 $7.83 1.86%
1987 $8.11 3.65%
1988 $8.45 4.14%
1989 $8.86 4.82%
1990 $9.34 5.40%
1991 $9.73 4.21%
1992 $10.02 3.01%
1993 $10.32 2.99%
1994 $10.59 2.56%
1995 $10.89 2.83%
1996 $11.21 2.95%
1997 $11.46 2.29%
1998 $11.64 1.56%
1999 $11.90 2.21%
2000 $12.30 3.36%
2001 $12.65 2.85%
2002 $12.85 1.58%
2003 $13.14 2.28%
2004 $13.49 2.66%
2005 $13.95 3.39%
2006 $14.40 3.23%
2007 $14.81 2.85%
2008 $15.38 3.84%
2009 $15.32 -0.36%
2010 $15.58 1.64%
2011 $16.07 3.16%
2012 $16.40 2.07%
2013 $16.64 1.46%
2014 $16.91 1.62%
2015 $16.93 0.12%
2016 $17.14 1.26%
2017 $17.48 1.99%
2018 $17.97 2.78%*
* Not final. See inflation summary for latest details.

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: “$1 in 1940 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Jun. 2018, https://www.officialdata.org/1940-in-2016-dollars?amount=1.


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