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Value of 1934 US Dollars today

$100 in 1934
$2,350.92 in 2024

The inflation rate in the United States between 1934 and today has been 2,250.92%, which translates into a total increase of $2,250.92. This means that 100 dollars in 1934 are equivalent to 2,350.92 dollars in 2024. In other words, the purchasing power of $100 in 1934 equals $2,350.92 today. The average annual inflation rate between these periods has been 3.57%.

Inflation timeline in the United States (1934 - 2024)

The following chart depicts the equivalence of $100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (USD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1934-2023 2,176.72%
Cumulative inflation 1934-today 2,250.92%
Avg. Annual inflation 1934-2023 3.57%
CPI 1934 13.38
CPI 2023 304.7
CPI 2024-05 (latest official data) 314.07
CPI today 314.63

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1934 and 2023, use the corresponding CPI values:

Value2023
=Value1934 ×
CPI2023/CPI1934
=$ 100 ×
304.7/13.38
$2,276.72

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 314.63:

Valuetoday
=Value1934 ×
CPItoday/CPI1934
=$ 100 ×
314.63/13.38
$2,350.92

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $100 worth today. There are 89 years between 1934 and 2023 and the average inflation rate was 3.574%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.03574)89
$2,276.72

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1934 $22.77 dollars in 2023
$5 dollars in 1934 $113.84 dollars in 2023
$10 dollars in 1934 $227.67 dollars in 2023
$50 dollars in 1934 $1,138.36 dollars in 2023
$100 dollars in 1934 $2,276.72 dollars in 2023
$500 dollars in 1934 $11,383.62 dollars in 2023
$1,000 dollars in 1934 $22,767.24 dollars in 2023
$5,000 dollars in 1934 $113,836.21 dollars in 2023
$10,000 dollars in 1934 $227,672.42 dollars in 2023
$50,000 dollars in 1934 $1,138,362.08 dollars in 2023
$100,000 dollars in 1934 $2,276,724.16 dollars in 2023
$500,000 dollars in 1934 $11,383,620.8 dollars in 2023
$1,000,000 dollars in 1934 $22,767,241.59 dollars in 2023
Cumulative inflation From 1934 2,250.92%
Avg. annual inflation From 1934 3.57%
CPI 1934 13.38
CPI today 314.63

Value of Dollar over time (by year)

Period Value
1934 100
1935 102.55
1936 103.61
1937 107.47
1938 105.29
1939 103.92
1940 104.67
1941 110.02
1942 122.04
1943 129.33
1944 131.44
1945 134.43
1946 145.83
1947 166.81
1948 179.64
1949 177.9
1950 179.83
1951 193.96
1952 198.38
1953 200
1954 200.62
1955 200.06
1956 203.11
1957 209.9
1958 215.63
1959 217.81
1960 220.98
1961 223.35
1962 226.03
1963 228.83
1964 231.76
1965 235.43
1966 242.53
1967 249.25
1968 259.9
1969 274.1
1970 290.1
1971 302.55
1972 312.45
1973 331.76
1974 368.43
1975 402.12
1976 425.22
1977 452.86
1978 487.42
1979 542.28
1980 615.75
1981 679.39
1982 721.05
1983 744.21
1984 776.21
1985 803.74
1986 818.99
1987 849
1988 883.62
1989 926.28
1990 976.28
1991 1,017.62
1992 1,048.44
1993 1,079.39
1994 1,107.53
1995 1,138.61
1996 1,171.98
1997 1,199.38
1998 1,218
1999 1,244.65
2000 1,286.67
2001 1,323.04
2002 1,344.02
2003 1,374.53
2004 1,411.33
2005 1,459.22
2006 1,506.29
2007 1,549.26
2008 1,608.74
2009 1,603.02
2010 1,629.31
2011 1,680.74
2012 1,715.52
2013 1,740.65
2014 1,768.89
2015 1,770.99
2016 1,793.33
2017 1,831.53
2018 1,876.27
2019 1,910.27
2020 1,933.83
2021 2,024.68
2022 2,186.71
2023 2,276.72
2024-05 2,346.72
Today 2,350.92

All available years

Today's value of US dollars by year:

1913 | 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 |

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