The consumer price index (CPI) in 1956 was 27.2. the Bureau of Labor Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.64% per year. Prices in 2018 are 817.5% higher than prices in 1956.

In other words, $100 in the year 1956 is equivalent in purchasing power to $917.48 in 2018, a difference of $817.48 over 62 years.

Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%^{1}. If this number holds, $100 today would be equivalent to $101.95 next year.
The current inflation rate page gives more detail on the latest official inflation rates.

Cumulative price change | 817.48% |

Average inflation rate | 3.64% |

Price difference ($100 base) | $817.48 |

CPI in 1956 | 27.2 |

CPI in 2018 | 249.554 |

CPI in 2018 / CPI in 1956 * 1956 USD value = 2018 USD value

Then plug in historical CPI values. The U.S. CPI was 27.2 in the year 1956 and 249.554 in 2018:

249.554 / 27.2 * $100 =

$100 in 1956 has the same "purchasing power" as $917.48 in 2018.

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

- Nikita Khrushchev criticises Stalin at 20th Soviet Party Conference.
- Morocco declares independence from France, tearing up the Treaty of Fez.
- IBM introduces the first computer with a hard drive, RAMAC 305, which weighs over one ton.
- President Eisenhower orders the desegregation of Little Rock schools.
- Shippingport Atomic Power Station in Pennsylvania becomes the world's first nuclear power station to generate electricity.

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: “Inflation Rate in 1956 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 May. 2018, https://www.officialdata.org/inflation-rate-in-1956.