According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.50% per year. Prices in 2018 are 935.0% higher than prices in 1950.
In other words, $1 in the year 1950 is equivalent in purchasing power to $10.35 in 2018, a difference of $9.35 over 68 years.
Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, $1 today would be equivalent to $1.02 next year. The current inflation rate page gives more detail on the latest official inflation rates.
|Cumulative price change||935.00%|
|Average inflation rate||3.50%|
|Price difference ($1 base)||$9.35|
|CPI in 1950||24.1|
|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: “$1 in 1950 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 28 May. 2018, https://www.officialdata.org/1950-dollars?amount=1.