$100 in 1938 is worth $2,375.74 in August 2026 dollars. Prices are 2,275.7% higher than they were in 1938, an average inflation rate of 3.66% a year over roughly 88 years, according to the Bureau of Labor Statistics consumer price index.
Inflation in 1938
The average CPI-U in 1938 was 14.1, down from 14.4 in 1937 — an annual inflation rate of -2.1%.
1938 was a year of deflation: average consumer prices were lower than the year before.
That rate was higher than in 6 of the 112 years from 1914 to 2025, and below the long-run average of 3.16% a year.
Average prices had doubled from their 1938 level by 1958, 20 years later.
Value of $100 from 1938 over time
1938 dollars in today’s dollars
| 1938 dollars | August 2026 dollars |
|---|---|
| $1 | $23.76 |
| $5 | $118.79 |
| $10 | $237.57 |
| $20 | $475.15 |
| $50 | $1,187.87 |
| $100 | $2,375.74 |
| $500 | $11,878.72 |
| $1,000 | $23,757.45 |
| $5,000 | $118,787.23 |
| $10,000 | $237,574.47 |
| $50,000 | $1,187,872.34 |
| $100,000 | $2,375,744.68 |
Buying power of $100 from 1938, year by year
| Year | Avg CPI-U | Inflation that year | Equivalent of $100 from 1938 |
|---|---|---|---|
| 1938 | 14.1 | -2.1% | $100.00 |
| 1939 | 13.9 | -1.4% | $98.58 |
| 1940 | 14.0 | 0.7% | $99.29 |
| 1941 | 14.7 | 5.0% | $104.26 |
| 1942 | 16.3 | 10.9% | $115.60 |
| 1943 | 17.3 | 6.1% | $122.70 |
| 1944 | 17.6 | 1.7% | $124.82 |
| 1945 | 18.0 | 2.3% | $127.66 |
| 1946 | 19.5 | 8.3% | $138.30 |
| 1947 | 22.3 | 14.4% | $158.16 |
| 1948 | 24.1 | 8.1% | $170.92 |
| 1949 | 23.8 | -1.2% | $168.79 |
| 1950 | 24.1 | 1.3% | $170.92 |
| 1951 | 26.0 | 7.9% | $184.40 |
| 1952 | 26.5 | 1.9% | $187.94 |
| 1953 | 26.7 | 0.8% | $189.36 |
| 1954 | 26.9 | 0.7% | $190.78 |
| 1955 | 26.8 | -0.4% | $190.07 |
| 1956 | 27.2 | 1.5% | $192.91 |
| 1957 | 28.1 | 3.3% | $199.29 |
| 1958 | 28.9 | 2.8% | $204.96 |
| 1959 | 29.1 | 0.7% | $206.38 |
| 1960 | 29.6 | 1.7% | $209.93 |
| 1961 | 29.9 | 1.0% | $212.06 |
| 1962 | 30.2 | 1.0% | $214.18 |
| 1963 | 30.6 | 1.3% | $217.02 |
| 1964 | 31.0 | 1.3% | $219.86 |
| 1965 | 31.5 | 1.6% | $223.40 |
| 1966 | 32.4 | 2.9% | $229.79 |
| 1967 | 33.4 | 3.1% | $236.88 |
| 1968 | 34.8 | 4.2% | $246.81 |
| 1969 | 36.7 | 5.5% | $260.28 |
| 1970 | 38.8 | 5.7% | $275.18 |
| 1971 | 40.5 | 4.4% | $287.23 |
| 1972 | 41.8 | 3.2% | $296.45 |
| 1973 | 44.4 | 6.2% | $314.89 |
| 1974 | 49.3 | 11.0% | $349.65 |
| 1975 | 53.8 | 9.1% | $381.56 |
| 1976 | 56.9 | 5.8% | $403.55 |
| 1977 | 60.6 | 6.5% | $429.79 |
| 1978 | 65.2 | 7.6% | $462.41 |
| 1979 | 72.6 | 11.3% | $514.89 |
| 1980 | 82.4 | 13.5% | $584.40 |
| 1981 | 90.9 | 10.3% | $644.68 |
| 1982 | 96.5 | 6.2% | $684.40 |
| 1983 | 99.6 | 3.2% | $706.38 |
| 1984 | 103.900 | 4.3% | $736.88 |
| 1985 | 107.600 | 3.6% | $763.12 |
| 1986 | 109.600 | 1.9% | $777.30 |
| 1987 | 113.600 | 3.6% | $805.67 |
| 1988 | 118.300 | 4.1% | $839.01 |
| 1989 | 124.000 | 4.8% | $879.43 |
| 1990 | 130.700 | 5.4% | $926.95 |
| 1991 | 136.200 | 4.2% | $965.96 |
| 1992 | 140.300 | 3.0% | $995.04 |
| 1993 | 144.500 | 3.0% | $1,024.82 |
| 1994 | 148.200 | 2.6% | $1,051.06 |
| 1995 | 152.400 | 2.8% | $1,080.85 |
| 1996 | 156.900 | 3.0% | $1,112.77 |
| 1997 | 160.500 | 2.3% | $1,138.30 |
| 1998 | 163.000 | 1.6% | $1,156.03 |
| 1999 | 166.600 | 2.2% | $1,181.56 |
| 2000 | 172.200 | 3.4% | $1,221.28 |
| 2001 | 177.100 | 2.8% | $1,256.03 |
| 2002 | 179.900 | 1.6% | $1,275.89 |
| 2003 | 184.000 | 2.3% | $1,304.96 |
| 2004 | 188.900 | 2.7% | $1,339.72 |
| 2005 | 195.300 | 3.4% | $1,385.11 |
| 2006 | 201.600 | 3.2% | $1,429.79 |
| 2007 | 207.342 | 2.8% | $1,470.51 |
| 2008 | 215.303 | 3.8% | $1,526.97 |
| 2009 | 214.537 | -0.4% | $1,521.54 |
| 2010 | 218.056 | 1.6% | $1,546.50 |
| 2011 | 224.939 | 3.2% | $1,595.31 |
| 2012 | 229.594 | 2.1% | $1,628.33 |
| 2013 | 232.957 | 1.5% | $1,652.18 |
| 2014 | 236.736 | 1.6% | $1,678.98 |
| 2015 | 237.017 | 0.1% | $1,680.97 |
| 2016 | 240.007 | 1.3% | $1,702.18 |
| 2017 | 245.120 | 2.1% | $1,738.44 |
| 2018 | 251.107 | 2.4% | $1,780.90 |
| 2019 | 255.657 | 1.8% | $1,813.17 |
| 2020 | 258.811 | 1.2% | $1,835.54 |
| 2021 | 270.970 | 4.7% | $1,921.77 |
| 2022 | 292.655 | 8.0% | $2,075.57 |
| 2023 | 304.702 | 4.1% | $2,161.01 |
| 2024 | 313.689 | 2.9% | $2,224.74 |
| 2025 | 321.943 | 2.6% | $2,283.28 |
| August 2026 | 334.980 | — | $2,375.74 |
How this is calculated
Value today = amount × (latest CPI-U ÷ 1938 average CPI-U). For $100: 100 × (334.980 ÷ 14.1) = $2,375.74. The average annual rate is the compound rate that turns 1938 prices into today’s over the elapsed time, measured from mid-1938 because an annual average describes the middle of the year. CPI-U tracks a broad basket of urban consumer spending; the prices of specific items such as housing, tuition or food have moved by different amounts.
Reverse: $100.00 today had the same buying power as $4.21 in 1938.
Other years
1928 dollars today · 1933 dollars today · 1936 dollars today · 1937 dollars today · 1939 dollars today · 1940 dollars today · 1943 dollars today · 1948 dollars today · Inflation calculator (any two years)
