$1,000,000 in 1945 → $13,864,111.11 in 2018

Inflation Calculator

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U.S. Inflation Rate, 1945-2018 ($1,000,000)

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.67% per year. Prices in 2018 are 1286.4% higher than prices in 1945.

In other words, $1,000,000 in the year 1945 is equivalent in purchasing power to $13,864,111.11 in 2018, a difference of $12,864,111.11 over 73 years.

Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, $1,000,000 today would be equivalent to $1,019,478.24 next year. The current inflation rate page gives more detail on the latest official inflation rates.

Inflation from 1945 to 2018
Cumulative price change 1286.41%
Average inflation rate 3.67%
Price difference ($1,000,000 base) $12,864,111.11
CPI in 1945 18
CPI in 2018 249.554


U.S. inflation from 1913 to 2017


Inflation rates for specific categories

Televisions · Medical care · Fresh fruits · More

Inflation-adjusted measures

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

How to calculate the inflation rate for $1,000,000 since 1945

This inflation calculator uses the following inflation rate formula:

CPI in 2018 / CPI in 1945 * 1945 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 18 in the year 1945 and 249.554 in 2018:

249.554 / 18 * $1,000,000 = $13,864,111.11

$1,000,000 in 1945 has the same "purchasing power" as $13,864,111.11 in 2018.


News headlines from 1945

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

  • The USSR captures Budapest from Germany in a battle that kills 159,000 people.
  • The US Fleet captures Iwo Jima.
  • 1,500 US Navy ships bomb Okinawa: the operation is believed to be the largest of World War II
  • Iwo Jima is occupied by America, costing 6,000 American lives and a further 18,000 Japanese lives.
  • Buchenwald, the first Nazi concentration camp, is liberated.

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: “$1,000,000 in 1945 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 25 May. 2018, https://www.officialdata.org/1945-dollars?amount=1000000.


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