Prices are now 13.9x higher than in 1948
According to the Bureau of Labor Statistics, something that cost $100 in 1948 costs about $1,389.96 today. The inflation rate in 1948 was 8.1%, and total inflation from 1948 to August 2026 was 1,290%.
The federal minimum wage was $0.40 an hour at the end of 1948, or about $5.56 an hour in today's dollars.
The S&P 500 index started 1948 at 14.83. With dividends reinvested, $100 invested in the S&P 500 in 1948 would have grown to about $593,959.83 by 2026, before adjusting for inflation.
Some costs rose much faster than others. Compared with overall inflation, tobacco rose the most since 1948 (509% more than inflation), and clothing rose the least (77% less).
| All prices, on average | $1,389.96 |
| Food | $1,335.32 |
| Groceries | $1,143.64 |
| Eggs | $372.96 |
| Milk | $750.85 |
| Bread | $1,957.66 |
| Meat | $1,240.19 |
| Fresh fruit | $1,933.67 |
| Sugar and sweets | $1,659.18 |
Cost of living in 1948 by category
The Bureau of Labor Statistics began publishing average prices for individual items in 1980. For 1948, these comparisons use the consumer price index for each spending category: each row shows what something that cost $100 in 1948 costs in August 2026, and how that compares with overall inflation of 1,290%.
Food & drink
| Category | $100 in 1948 today | Compared with inflation |
|---|---|---|
| Food | $100 in 1948 today$1,335.32 | Compared with inflation4% less than inflation |
| Groceries | $100 in 1948 today$1,143.64 | Compared with inflation18% less than inflation |
| Eggs | $100 in 1948 today$372.96 | Compared with inflation73% less than inflation |
| Milk | $100 in 1948 today$750.85 | Compared with inflation46% less than inflation |
| Bread | $100 in 1948 today$1,957.66 | Compared with inflation41% more than inflation |
| Meat | $100 in 1948 today$1,240.19 | Compared with inflation11% less than inflation |
| Fresh fruit | $100 in 1948 today$1,933.67 | Compared with inflation39% more than inflation |
| Sugar and sweets | $100 in 1948 today$1,659.18 | Compared with inflation19% more than inflation |
| Tobacco | $100 in 1948 today$8,458.25 | Compared with inflation509% more than inflation |
Housing & energy
| Category | $100 in 1948 today | Compared with inflation |
|---|---|---|
| Rent | $100 in 1948 today$1,619.12 | Compared with inflation16% more than inflation |
| Electricity | $100 in 1948 today$1,135.79 | Compared with inflation18% less than inflation |
| Natural gas | $100 in 1948 today$2,140.33 | Compared with inflation54% more than inflation |
| Heating oil | $100 in 1948 today$4,230.13 | Compared with inflation204% more than inflation |
Transportation
| Category | $100 in 1948 today | Compared with inflation |
|---|---|---|
| Gasoline | $100 in 1948 today$1,813.13 | Compared with inflation30% more than inflation |
| New cars | $100 in 1948 today$474.46 | Compared with inflation66% less than inflation |
| Public transportation | $100 in 1948 today$2,591.64 | Compared with inflation86% more than inflation |
Other costs
| Category | $100 in 1948 today | Compared with inflation |
|---|---|---|
| Clothing | $100 in 1948 today$319.89 | Compared with inflation77% less than inflation |
| Shoes | $100 in 1948 today$496.05 | Compared with inflation64% less than inflation |
| Medical care | $100 in 1948 today$4,121.29 | Compared with inflation197% more than inflation |
| Doctor visits | $100 in 1948 today$2,894.22 | Compared with inflation108% more than inflation |
| Prescription drugs | $100 in 1948 today$1,360.32 | Compared with inflation2% less than inflation |
| Personal care | $100 in 1948 today$1,146.16 | Compared with inflation18% less than inflation |
| Postage | $100 in 1948 today$2,942.68 | Compared with inflation112% more than inflation |
Frequently asked questions
How much is $1 from 1948 worth today?
$1 in 1948 has about the same buying power as $13.90 today, according to the Bureau of Labor Statistics consumer price index.
What was the inflation rate in 1948?
The U.S. inflation rate in 1948 was 8.1%, measured as the change in the consumer price index from 1947 to 1948.
What was the minimum wage in 1948?
The federal minimum wage at the end of 1948 was $0.40 an hour, or about $5.56 an hour in today's dollars.
Which costs rose the most since 1948?
Of the spending categories tracked since 1948, tobacco rose the most relative to overall inflation: something that cost $100 in 1948 costs about $8458.25 today. Clothing rose the least, to about $319.89.
Where these numbers come from
Category comparisons use the Bureau of Labor Statistics consumer price index for each category, from the 1948 annual average to August 2026. Overall inflation uses the same consumer price index as our 1948 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
- 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
- 2025
| All prices, on average | $1,389.96 |
| Food | $1,335.32 |
| Groceries | $1,143.64 |
| Eggs | $372.96 |
| Milk | $750.85 |
| Bread | $1,957.66 |
| Meat | $1,240.19 |
| Fresh fruit | $1,933.67 |
| Sugar and sweets | $1,659.18 |