According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 723.77% higher in 2024 versus 1968 (a $14,475,358.17 difference in value).
Between 1968 and 2024: Chicago experienced an average inflation rate of 3.84% per year. This rate of change indicates significant inflation. In other words, $2,000,000 in Chicago in the year 1968 would cost $16,475,358.17 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.99% during this same period, inflation in Chicago was lower.
In the year 1968: Pricing changed by 4.23%, which is above the average yearly change in Chicago during the 1968-2024 time period. Compared to inflation for all items in 1968 (4.27%), inflation in Chicago was lower.
Below are calculations of equivalent buying power in Chicago, over time, for $2,000,000 beginning in 1968. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1968 | $2,000,000.00 | 4.23% |
1969 | $2,109,360.08 | 5.47% |
1970 | $2,230,181.47 | 5.73% |
1971 | $2,318,051.58 | 3.94% |
1972 | $2,383,954.15 | 2.84% |
1973 | $2,533,428.84 | 6.27% |
1974 | $2,801,337.15 | 10.57% |
1975 | $3,022,445.08 | 7.89% |
1976 | $3,167,144.22 | 4.79% |
1977 | $3,366,284.62 | 6.29% |
1978 | $3,659,025.79 | 8.70% |
1979 | $4,115,568.29 | 12.48% |
1980 | $4,709,169.05 | 14.42% |
1981 | $5,159,980.90 | 9.57% |
1982 | $5,511,938.87 | 6.82% |
1983 | $5,731,614.14 | 3.99% |
1984 | $5,947,946.51 | 3.77% |
1985 | $6,172,397.33 | 3.77% |
1986 | $6,301,337.15 | 2.09% |
1987 | $6,561,127.03 | 4.12% |
1988 | $6,817,574.02 | 3.91% |
1989 | $7,162,368.67 | 5.06% |
1990 | $7,547,277.94 | 5.37% |
1991 | $7,853,390.64 | 4.06% |
1992 | $8,083,572.11 | 2.93% |
1993 | $8,332,855.78 | 3.08% |
1994 | $8,515,281.76 | 2.19% |
1995 | $8,786,055.40 | 3.18% |
1996 | $9,021,012.42 | 2.67% |
1997 | $9,267,908.31 | 2.74% |
1998 | $9,454,632.28 | 2.01% |
1999 | $9,650,429.80 | 2.07% |
2000 | $9,960,362.94 | 3.21% |
2001 | $10,219,675.26 | 2.60% |
2002 | $10,382,521.49 | 1.59% |
2003 | $10,573,543.46 | 1.84% |
2004 | $10,809,933.14 | 2.24% |
2005 | $11,137,058.26 | 3.03% |
2006 | $11,365,329.51 | 2.05% |
2007 | $11,737,397.33 | 3.27% |
2008 | $12,179,689.59 | 3.77% |
2009 | $12,034,102.20 | -1.20% |
2010 | $12,198,877.75 | 1.37% |
2011 | $12,532,043.94 | 2.73% |
2012 | $12,722,335.24 | 1.52% |
2013 | $12,867,917.86 | 1.14% |
2014 | $13,092,707.74 | 1.75% |
2015 | $13,054,001.91 | -0.30% |
2016 | $13,140,501.43 | 0.66% |
2017 | $13,387,468.96 | 1.88% |
2018 | $13,622,134.67 | 1.75% |
2019 | $13,821,241.64 | 1.46% |
2020 | $13,975,515.76 | 1.12% |
2021 | $14,564,990.45 | 4.22% |
2022 | $15,665,105.06 | 7.55% |
2023 | $16,186,217.77 | 3.33% |
2024 | $16,475,358.17 | 1.79%* |
* 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:
Year | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 10.000 | 10.017 | 10.317 | 11.758 | 13.733 | 16.667 | 19.850 | 18.175 | 17.167 | 17.375 | 17.717 | 18.108 | 18.425 | 18.258 | 17.692 | 17.650 | 17.458 | 15.958 | 14.083 | 12.633 | 12.717 | 13.267 | 13.533 | 14.092 | 13.992 | 13.717 | 13.792 | 14.517 | 15.958 | 16.850 | 17.108 | 17.475 | 19.033 | 22.108 | 24.033 | 24.008 | 24.250 | 26.158 | 26.725 | 26.958 | 27.358 | 27.542 | 27.925 | 28.833 | 29.708 | 29.950 | 30.367 | 30.517 | 30.833 | 31.142 | 31.267 | 31.683 | 32.633 | 33.483 | 34.900 | 36.808 | 38.917 | 40.450 | 41.600 | 44.208 | 48.883 | 52.742 | 55.267 | 58.742 | 63.850 | 71.817 | 82.175 | 90.042 | 96.183 | 100.017 | 103.792 | 107.708 | 109.958 | 114.492 | 118.967 | 124.983 | 131.700 | 137.042 | 141.058 | 145.408 | 148.592 | 153.317 | 157.417 | 161.725 | 164.983 | 168.400 | 173.808 | 178.333 | 181.175 | 184.508 | 188.633 | 194.342 | 198.325 | 204.818 | 212.536 | 209.995 | 212.870 | 218.684 | 222.005 | 224.545 | 228.468 | 227.792 | 229.302 | 233.611 | 237.706 | 241.181 | 243.873 | 254.159 | 273.356 | 282.450 | 287.495 |