What happened to prices after 1929
For three years after 1929, a dollar bought more every year. After the October crash, prices fell along with wages and jobs: by December 1932 the same basket cost 23.8% less than in December 1929. Cash kept in a drawer, if you still had it, was one of the few things that gained value.
It didn’t last. Prices rose again from 1933, jumped during World War II and climbed 18.1% in 1946 alone, when wartime price controls ended.
Over the whole stretch, the cost of living rose almost 19-fold. The Depression-era drop is the main reason the average since 1929, 3.11% a year, is lower than the average since 1950.
What amounts from 1929 are worth today
| In 1929 | In 2025 | 2025 amount in 1929 |
|---|---|---|
| $1 | $18.84 | $0.05 |
| $5 | $94.22 | $0.27 |
| $10 | $188.43 | $0.53 |
| $20 | $376.86 | $1.06 |
| $50 | $942.15 | $2.65 |
| $100 | $1,884.30 | $5.31 |
| $500 | $9,421.51 | $26.54 |
| $1,000 | $18,843.02 | $53.07 |
| $5,000 | $94,215.12 | $265.35 |
| $10,000 | $188,430.23 | $530.70 |
Read across: $1,000 in 1929 buys what $18,843 did in 2025, and $1,000 in 2025 would have bought what $53.07 did in 1929.
Inflation by decade since 1929
| Decade | Average a year | Prices over the decade |
|---|---|---|
| 1930s | −2.04% | −18.6% |
| 1940s | 5.36% | +68.6% |
| 1950s | 2.22% | +24.6% |
| 1960s | 2.52% | +28.2% |
| 1970s | 7.36% | +103.4% |
| 1980s | 5.10% | +64.4% |
| 1990s | 2.93% | +33.5% |
| 2000s | 2.52% | +28.3% |
| 2010s | 1.76% | +19.0% |
| 2020s (2020–2025) | 3.94% | +26.1% |
Every year since 1929: CPI, inflation and the cost of $100 of 1929 goods
| Year | CPI (Dec.) | Inflation | Cost of $100 of 1929 goods |
|---|---|---|---|
| 1929 | 17.2 | — | $100.00 |
| 1930 | 16.1 | −6.4% | $93.60 |
| 1931 | 14.6 | −9.3% | $84.88 |
| 1932 | 13.1 | −10.3% | $76.16 |
| 1933 | 13.2 | +0.8% | $76.74 |
| 1934 | 13.4 | +1.5% | $77.91 |
| 1935 | 13.8 | +3.0% | $80.23 |
| 1936 | 14.0 | +1.4% | $81.40 |
| 1937 | 14.4 | +2.9% | $83.72 |
| 1938 | 14.0 | −2.8% | $81.40 |
| 1939 | 14.0 | 0.0% | $81.40 |
| 1940 | 14.1 | +0.7% | $81.98 |
| 1941 | 15.5 | +9.9% | $90.12 |
| 1942 | 16.9 | +9.0% | $98.26 |
| 1943 | 17.4 | +3.0% | $101.16 |
| 1944 | 17.8 | +2.3% | $103.49 |
| 1945 | 18.2 | +2.2% | $105.81 |
| 1946 | 21.5 | +18.1% | $125.00 |
| 1947 | 23.4 | +8.8% | $136.05 |
| 1948 | 24.1 | +3.0% | $140.12 |
| 1949 | 23.6 | −2.1% | $137.21 |
| 1950 | 25.0 | +5.9% | $145.35 |
| 1951 | 26.5 | +6.0% | $154.07 |
| 1952 | 26.7 | +0.8% | $155.23 |
| 1953 | 26.9 | +0.7% | $156.40 |
| 1954 | 26.7 | −0.7% | $155.23 |
| 1955 | 26.8 | +0.4% | $155.81 |
| 1956 | 27.6 | +3.0% | $160.47 |
| 1957 | 28.4 | +2.9% | $165.12 |
| 1958 | 28.9 | +1.8% | $168.02 |
| 1959 | 29.4 | +1.7% | $170.93 |
| 1960 | 29.8 | +1.4% | $173.26 |
| 1961 | 30.0 | +0.7% | $174.42 |
| 1962 | 30.4 | +1.3% | $176.74 |
| 1963 | 30.9 | +1.6% | $179.65 |
| 1964 | 31.2 | +1.0% | $181.40 |
| 1965 | 31.8 | +1.9% | $184.88 |
| 1966 | 32.9 | +3.5% | $191.28 |
| 1967 | 33.9 | +3.0% | $197.09 |
| 1968 | 35.5 | +4.7% | $206.40 |
| 1969 | 37.7 | +6.2% | $219.19 |
| 1970 | 39.8 | +5.6% | $231.40 |
| 1971 | 41.1 | +3.3% | $238.95 |
| 1972 | 42.5 | +3.4% | $247.09 |
| 1973 | 46.2 | +8.7% | $268.60 |
| 1974 | 51.9 | +12.3% | $301.74 |
| 1975 | 55.5 | +6.9% | $322.67 |
| 1976 | 58.2 | +4.9% | $338.37 |
| 1977 | 62.1 | +6.7% | $361.05 |
| 1978 | 67.7 | +9.0% | $393.60 |
| 1979 | 76.7 | +13.3% | $445.93 |
| 1980 | 86.3 | +12.5% | $501.74 |
| 1981 | 94.0 | +8.9% | $546.51 |
| 1982 | 97.6 | +3.8% | $567.44 |
| 1983 | 101.3 | +3.8% | $588.95 |
| 1984 | 105.3 | +3.9% | $612.21 |
| 1985 | 109.3 | +3.8% | $635.47 |
| 1986 | 110.5 | +1.1% | $642.44 |
| 1987 | 115.4 | +4.4% | $670.93 |
| 1988 | 120.5 | +4.4% | $700.58 |
| 1989 | 126.1 | +4.6% | $733.14 |
| 1990 | 133.8 | +6.1% | $777.91 |
| 1991 | 137.9 | +3.1% | $801.74 |
| 1992 | 141.9 | +2.9% | $825.00 |
| 1993 | 145.8 | +2.7% | $847.67 |
| 1994 | 149.7 | +2.7% | $870.35 |
| 1995 | 153.5 | +2.5% | $892.44 |
| 1996 | 158.6 | +3.3% | $922.09 |
| 1997 | 161.3 | +1.7% | $937.79 |
| 1998 | 163.9 | +1.6% | $952.91 |
| 1999 | 168.3 | +2.7% | $978.49 |
| 2000 | 174.0 | +3.4% | $1,011.63 |
| 2001 | 176.7 | +1.6% | $1,027.33 |
| 2002 | 180.9 | +2.4% | $1,051.74 |
| 2003 | 184.3 | +1.9% | $1,071.51 |
| 2004 | 190.3 | +3.3% | $1,106.40 |
| 2005 | 196.8 | +3.4% | $1,144.19 |
| 2006 | 201.8 | +2.5% | $1,173.26 |
| 2007 | 210.0 | +4.1% | $1,220.93 |
| 2008 | 210.2 | +0.1% | $1,222.09 |
| 2009 | 215.9 | +2.7% | $1,255.23 |
| 2010 | 219.2 | +1.5% | $1,274.42 |
| 2011 | 225.7 | +3.0% | $1,312.21 |
| 2012 | 229.6 | +1.7% | $1,334.88 |
| 2013 | 233.0 | +1.5% | $1,354.65 |
| 2014 | 234.8 | +0.8% | $1,365.12 |
| 2015 | 236.5 | +0.7% | $1,375.00 |
| 2016 | 241.4 | +2.1% | $1,403.49 |
| 2017 | 246.5 | +2.1% | $1,433.14 |
| 2018 | 251.2 | +1.9% | $1,460.47 |
| 2019 | 257.0 | +2.3% | $1,494.19 |
| 2020 | 260.5 | +1.4% | $1,514.53 |
| 2021 | 278.8 | +7.0% | $1,620.93 |
| 2022 | 296.8 | +6.5% | $1,725.58 |
| 2023 | 306.7 | +3.3% | $1,783.14 |
| 2024 | 315.6 | +2.9% | $1,834.88 |
| 2025 | 324.1 | +2.7% | $1,884.30 |
How this is calculated
We divide the consumer price index for December 2025 (324.1) by the index for December 1929 (17.2), which gives 18.8430, and multiply. Each year’s inflation runs December to December. December figures follow prices to the end of each year, so they can differ slightly from tables that use yearly averages. The index measures an average urban household’s spending; your own costs can rise faster or slower.
For what the stock market did over the same years, see S&P 500 returns since 1929. Every figure here comes from the same data as the inflation calculator. The method is on the methodology page.
Sources
- U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers (CPI-U), U.S. city average, all items, December values.