Prices are now 23.9x higher than in 1940
According to the Bureau of Labor Statistics, something that cost $100 in 1940 costs about $2,392.71 today. The inflation rate in 1940 was 0.7%, and total inflation from 1940 to August 2026 was 2,293%.
The federal minimum wage was $0.30 an hour at the end of 1940, or about $7.18 an hour in today's dollars.
The S&P 500 index started 1940 at 12.30. With dividends reinvested, $100 invested in the S&P 500 in 1940 would have grown to about $1,113,083.22 by 2026, before adjusting for inflation.
Some costs rose much faster than others. Compared with overall inflation, heating oil rose the most since 1940 (225% more than inflation), and clothing rose the least (74% less).
| All prices, on average | $2,392.71 |
| Food | $2,906.50 |
| Eggs | $829.92 |
| Milk | $1,361.61 |
| Bread | $3,307.94 |
| Meat | $3,206.79 |
| Sugar and sweets | $2,982.18 |
| Rent | $1,876.08 |
| Electricity | $1,063.83 |
Cost of living in 1940 by category
The Bureau of Labor Statistics began publishing average prices for individual items in 1980. For 1940, these comparisons use the consumer price index for each spending category: each row shows what something that cost $100 in 1940 costs in August 2026, and how that compares with overall inflation of 2,293%.
Food & drink
| Category | $100 in 1940 today | Compared with inflation |
|---|---|---|
| Food | $100 in 1940 today$2,906.50 | Compared with inflation21% more than inflation |
| Eggs | $100 in 1940 today$829.92 | Compared with inflation65% less than inflation |
| Milk | $100 in 1940 today$1,361.61 | Compared with inflation43% less than inflation |
| Bread | $100 in 1940 today$3,307.94 | Compared with inflation38% more than inflation |
| Meat | $100 in 1940 today$3,206.79 | Compared with inflation34% more than inflation |
| Sugar and sweets | $100 in 1940 today$2,982.18 | Compared with inflation25% more than inflation |
Housing & energy
| Category | $100 in 1940 today | Compared with inflation |
|---|---|---|
| Rent | $100 in 1940 today$1,876.08 | Compared with inflation22% less than inflation |
| Electricity | $100 in 1940 today$1,063.83 | Compared with inflation56% less than inflation |
| Natural gas | $100 in 1940 today$2,095.77 | Compared with inflation12% less than inflation |
| Heating oil | $100 in 1940 today$7,780.94 | Compared with inflation225% more than inflation |
Transportation
| Category | $100 in 1940 today | Compared with inflation |
|---|---|---|
| Gasoline | $100 in 1940 today$2,626.07 | Compared with inflation10% more than inflation |
| Public transportation | $100 in 1940 today$3,182.59 | Compared with inflation33% more than inflation |
Other costs
| Category | $100 in 1940 today | Compared with inflation |
|---|---|---|
| Clothing | $100 in 1940 today$623.52 | Compared with inflation74% less than inflation |
| Medical care | $100 in 1940 today$5,724.01 | Compared with inflation139% more than inflation |
Frequently asked questions
How much is $1 from 1940 worth today?
$1 in 1940 has about the same buying power as $23.93 today, according to the Bureau of Labor Statistics consumer price index.
What was the inflation rate in 1940?
The U.S. inflation rate in 1940 was 0.7%, measured as the change in the consumer price index from 1939 to 1940.
What was the minimum wage in 1940?
The federal minimum wage at the end of 1940 was $0.30 an hour, or about $7.18 an hour in today's dollars.
Which costs rose the most since 1940?
Of the spending categories tracked since 1940, heating oil rose the most relative to overall inflation: something that cost $100 in 1940 costs about $7780.94 today. Clothing rose the least, to about $623.52.
Where these numbers come from
Category comparisons use the Bureau of Labor Statistics consumer price index for each category, from the 1940 annual average to August 2026. Overall inflation uses the same consumer price index as our 1940 inflation calculator. The federal minimum wage is from the U.S. Department of Labor, via the Federal Reserve Bank of St. Louis. S&P 500 values are from Robert Shiller's historical stock market data.
Prices in other years
- 1914
- 1915
- 1916
- 1917
- 1918
- 1919
- 1920
- 1921
- 1922
- 1923
- 1924
- 1925
- 1926
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- 1939
- 1940
- 1941
- 1942
- 1943
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- 1980
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- 2001
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- 2003
- 2004
- 2005
- 2006
- 2007
- 2008
- 2009
- 2010
- 2011
- 2012
- 2013
- 2014
- 2015
- 2016
- 2017
- 2018
- 2019
- 2020
- 2021
- 2022
- 2023
- 2024
- 2025
| All prices, on average | $2,392.71 |
| Food | $2,906.50 |
| Eggs | $829.92 |
| Milk | $1,361.61 |
| Bread | $3,307.94 |
| Meat | $3,206.79 |
| Sugar and sweets | $2,982.18 |
| Rent | $1,876.08 |
| Electricity | $1,063.83 |