Chicago, Illinois prices: $20 in 1914 $572.04 in 2024

Inflation in Illinois

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Prices in Chicago, 1914-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 2,760.22% higher in 2024 versus 1914 (a $552.04 difference in value).

Between 1914 and 2024: Chicago experienced an average inflation rate of 3.10% per year. This rate of change indicates significant inflation. In other words, $20 in Chicago in the year 1914 would cost $572.04 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.16% during this same period, inflation in Chicago was lower.

Price Inflation in Chicago, Illinois since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (21.36%), 1920 (19.10%), and 1918 (16.80%).

View price changes for other categories
Public transportation · Film and photographic supplies · Admission to sporting events · Fish and seafood · More

Buying power of $20.00 since 1914

Below are calculations of equivalent buying power in Chicago, over time, for $20 beginning in 1914. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1914$20.00-
1915$20.030.17%
1916$20.633.00%
1917$23.5213.97%
1918$27.4716.80%
1919$33.3321.36%
1920$39.7019.10%
1921$36.35-8.44%
1922$34.33-5.55%
1923$34.751.21%
1924$35.431.97%
1925$36.222.21%
1926$36.851.75%
1927$36.52-0.90%
1928$35.38-3.10%
1929$35.30-0.24%
1930$34.92-1.09%
1931$31.92-8.59%
1932$28.17-11.75%
1933$25.27-10.30%
1934$25.430.66%
1935$26.534.33%
1936$27.072.01%
1937$28.184.13%
1938$27.98-0.71%
1939$27.43-1.97%
1940$27.580.55%
1941$29.035.26%
1942$31.929.93%
1943$33.705.59%
1944$34.221.53%
1945$34.952.14%
1946$38.078.92%
1947$44.2216.16%
1948$48.078.71%
1949$48.02-0.10%
1950$48.501.01%
1951$52.327.87%
1952$53.452.17%
1953$53.920.87%
1954$54.721.48%
1955$55.080.67%
1956$55.851.39%
1957$57.673.25%
1958$59.423.03%
1959$59.900.81%
1960$60.731.39%
1961$61.030.49%
1962$61.671.04%
1963$62.281.00%
1964$62.530.40%
1965$63.371.33%
1966$65.273.00%
1967$66.972.60%
1968$69.804.23%
1969$73.625.47%
1970$77.835.73%
1971$80.903.94%
1972$83.202.84%
1973$88.426.27%
1974$97.7710.57%
1975$105.487.89%
1976$110.534.79%
1977$117.486.29%
1978$127.708.70%
1979$143.6312.48%
1980$164.3514.42%
1981$180.089.57%
1982$192.376.82%
1983$200.033.99%
1984$207.583.77%
1985$215.423.77%
1986$219.922.09%
1987$228.984.12%
1988$237.933.91%
1989$249.975.06%
1990$263.405.37%
1991$274.084.06%
1992$282.122.93%
1993$290.823.08%
1994$297.182.19%
1995$306.633.18%
1996$314.832.67%
1997$323.452.74%
1998$329.972.01%
1999$336.802.07%
2000$347.623.21%
2001$356.672.60%
2002$362.351.59%
2003$369.021.84%
2004$377.272.24%
2005$388.683.03%
2006$396.652.05%
2007$409.643.27%
2008$425.073.77%
2009$419.99-1.20%
2010$425.741.37%
2011$437.372.73%
2012$444.011.52%
2013$449.091.14%
2014$456.941.75%
2015$455.58-0.30%
2016$458.600.66%
2017$467.221.88%
2018$475.411.75%
2019$482.361.46%
2020$487.751.12%
2021$508.324.22%
2022$546.717.55%
2023$564.903.33%
2024$572.041.26%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Chicago, Illinois:

Year191419151916191719181919192019211922192319241925192619271928192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI10.00010.01710.31711.75813.73316.66719.85018.17517.16717.37517.71718.10818.42518.25817.69217.65017.45815.95814.08312.63312.71713.26713.53314.09213.99213.71713.79214.51715.95816.85017.10817.47519.03322.10824.03324.00824.25026.15826.72526.95827.35827.54227.92528.83329.70829.95030.36730.51730.83331.14231.26731.68332.63333.48334.90036.80838.91740.45041.60044.20848.88352.74255.26758.74263.85071.81782.17590.04296.183100.017103.792107.708109.958114.492118.967124.983131.700137.042141.058145.408148.592153.317157.417161.725164.983168.400173.808178.333181.175184.508188.633194.342198.325204.818212.536209.995212.870218.684222.005224.545228.468227.792229.302233.611237.706241.181243.873254.159273.356282.450286.022

Adjust Chicago prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1914 * 1914 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Chicago, Illinois was 10.000 in the year 1914 and 286.022 in 2024:

286.022 / 10.000 * $20 = $572.04

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1914 has the same "purchasing power" as $572.04 in 2024 (in the CPI category of Chicago, Illinois).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Chicago, Illinois in 1914. In addition to Chicago, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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