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Value of 1948 US Dollars today

$100 in 1948
$1,308.69 in 2024

The inflation rate in the United States between 1948 and today has been 1,208.69%, which translates into a total increase of $1,208.69. This means that 100 dollars in 1948 are equivalent to 1,308.69 dollars in 2024. In other words, the purchasing power of $100 in 1948 equals $1,308.69 today. The average annual inflation rate between these periods has been 3.44%.

Inflation timeline in the United States (1948 - 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 1948-2023 1,167.39%
Cumulative inflation 1948-today 1,208.69%
Avg. Annual inflation 1948-2023 3.44%
CPI 1948 24.04
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 1948 and 2023, use the corresponding CPI values:

Value2023
=Value1948 ×
CPI2023/CPI1948
=$ 100 ×
304.7/24.04
$1,267.39

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

Valuetoday
=Value1948 ×
CPItoday/CPI1948
=$ 100 ×
314.63/24.04
$1,308.69

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 75 years between 1948 and 2023 and the average inflation rate was 3.444%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.03444)75
$1,267.39

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1948 $12.67 dollars in 2023
$5 dollars in 1948 $63.37 dollars in 2023
$10 dollars in 1948 $126.74 dollars in 2023
$50 dollars in 1948 $633.69 dollars in 2023
$100 dollars in 1948 $1,267.39 dollars in 2023
$500 dollars in 1948 $6,336.95 dollars in 2023
$1,000 dollars in 1948 $12,673.9 dollars in 2023
$5,000 dollars in 1948 $63,369.48 dollars in 2023
$10,000 dollars in 1948 $126,738.96 dollars in 2023
$50,000 dollars in 1948 $633,694.8 dollars in 2023
$100,000 dollars in 1948 $1,267,389.6 dollars in 2023
$500,000 dollars in 1948 $6,336,948.01 dollars in 2023
$1,000,000 dollars in 1948 $12,673,896.01 dollars in 2023
Cumulative inflation From 1948 1,208.69%
Avg. annual inflation From 1948 3.44%
CPI 1948 24.04
CPI today 314.63

Value of Dollar over time (by year)

Period Value
1948 100
1949 99.03
1950 100.1
1951 107.97
1952 110.43
1953 111.33
1954 111.68
1955 111.37
1956 113.07
1957 116.85
1958 120.03
1959 121.25
1960 123.02
1961 124.33
1962 125.82
1963 127.38
1964 129.01
1965 131.06
1966 135.01
1967 138.75
1968 144.68
1969 152.58
1970 161.49
1971 168.42
1972 173.93
1973 184.68
1974 205.1
1975 223.85
1976 236.71
1977 252.1
1978 271.33
1979 301.87
1980 342.77
1981 378.2
1982 401.39
1983 414.28
1984 432.1
1985 447.42
1986 455.91
1987 472.62
1988 491.89
1989 515.63
1990 543.47
1991 566.48
1992 583.64
1993 600.87
1994 616.53
1995 633.83
1996 652.41
1997 667.66
1998 678.02
1999 692.86
2000 716.26
2001 736.5
2002 748.18
2003 765.16
2004 785.65
2005 812.31
2006 838.51
2007 862.43
2008 895.54
2009 892.35
2010 906.99
2011 935.62
2012 954.98
2013 968.97
2014 984.69
2015 985.86
2016 998.3
2017 1,019.56
2018 1,044.47
2019 1,063.39
2020 1,076.51
2021 1,127.08
2022 1,217.28
2023 1,267.39
2024-05 1,306.35
Today 1,308.69

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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