# \$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.

 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

#### Inflation rates for specific categories

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

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.