Chicago, Illinois prices: $1,200,000 in 2015 $1,421,337.56 in 2022

Inflation in Illinois

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Prices in Chicago, 2015-2022 ($1,200,000)

According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois are 18.44% higher in 2022 versus 2015 (a $221,337.56 difference in value).

Between 2015 and 2022: Chicago experienced an average inflation rate of 2.45% per year. This rate of change indicates significant inflation. In other words, $1,200,000 in Chicago in the year 2015 would cost $1,421,337.56 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.84% during this same period, inflation in Chicago was lower.

In the year 2015: Pricing changed by -0.30%, which is below the average yearly change in Chicago during the 2015-2022 time period. Compared to inflation for all items in 2015 (0.12%), 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%).

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Buying power of $1,200,000.00 since 2015

Below are calculations of equivalent buying power in Chicago, over time, for $1,200,000 beginning in 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2015$1,200,000.00-0.30%
2016$1,207,951.540.66%
2017$1,230,654.241.88%
2018$1,252,226.081.75%
2019$1,270,529.151.46%
2020$1,284,710.931.12%
2021$1,338,898.884.22%
2022$1,421,337.566.16%*
* Not final. See inflation summary for latest details.

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

Year1914191519161917191819191920192119221923192419251926192719281929193019311932193319341935193619371938193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI10.00010.01710.31711.75813.73316.66719.85018.17517.16717.37517.71718.10818.42518.25817.69217.65017.45815.95814.08312.63312.71713.26713.53314.09213.99213.71713.79214.51715.95816.85017.10817.47519.03322.10824.03324.00824.25026.15826.72526.95827.35827.54227.92528.83329.70829.95030.36730.51730.83331.14231.26731.68332.63333.48334.90036.80838.91740.45041.60044.20848.88352.74255.26758.74263.85071.81782.17590.04296.183100.017103.792107.708109.958114.492118.967124.983131.700137.042141.058145.408148.592153.317157.417161.725164.983168.400173.808178.333181.175184.508188.633194.342198.325204.818212.536209.995212.870218.684222.005224.545228.468227.792229.302233.611237.706241.181243.873254.159269.808

Adjust Chicago prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 2015 * 2015 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Chicago, Illinois was 227.792 in the year 2015 and 269.808 in 2022:

269.808 / 227.792 * $1,200,000 = $1,421,337.56

Therefore, according to U.S. Bureau of Labor Statistics, $1,200,000 in 2015 has the same "purchasing power" as $1,421,337.56 in 2022 (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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