$100 in 1938 has the same buying power as about $2,356 in 2026. Prices rose 2,256.3% over 88 years, an average of 3.66% per year, and the dollar lost about 96% of its 1938 purchasing power.
Ledger
$100 of 1938- Cumulative inflation
- 2,256.3%
- Average per year
- 3.66%
- Inflation rate in 1938
- -2.1%
- CPI-U 1938 → 2026
- 14.1 → 332.2
- Multiplier
- ×23.563
On the time scale
1938 to 2026CPI-U annual averages (1982–84 = 100). Calculate a different amount or end year.
1938 in context: The Great Depression
After the 1929 crash, waves of bank failures shrank the money supply and prices fell four years in a row; by 1933 the CPI was about 24% below its 1929 level. In 1933 and 1934 the Roosevelt administration ended gold convertibility for Americans and raised the official gold price from $20.67 to $35 an ounce, and prices began to recover. Monetary and fiscal tightening in 1936–37 brought another recession and falling prices again in 1938 and 1939.
- Inflation in 1938 was -2.1% (prices fell), the 7th lowest annual rate of the 112 full years from 1914 to 2025.
- From 1930 to 1940, inflation averaged -1.80% a year, from a high of 3.6% in 1937 to a low of -9.9% in 1932.
- Prices first reached double their 1938 level in 1958, 20 years later.
Read more: The history of US inflation
1938 dollars in 2026 dollars
| AMOUNT IN 1938 | VALUE IN 2026 |
|---|---|
| $1 | $23.56 |
| $5 | $117.82 |
| $10 | $235.63 |
| $20 | $471.27 |
| $50 | $1,178 |
| $100 | $2,356 |
| $500 | $11,782 |
| $1,000 | $23,563 |
| $10,000 | $235,633 |
| $100,000 | $2,356,333 |
Value of $100 from 1938, year by year
What $100 from 1938 was worth in each later year, with that year's inflation rate.
| YEAR | $100 IN 1938 EQUALS | INFLATION RATE |
|---|---|---|
| 1938 | $100 | -2.1% |
| 1939 | $98.58 | -1.4% |
| 1940 | $99.29 | 0.7% |
| 1941 | $104.26 | 5.0% |
| 1942 | $115.60 | 10.9% |
| 1943 | $122.70 | 6.1% |
| 1944 | $124.82 | 1.7% |
| 1945 | $127.66 | 2.3% |
| 1946 | $138.30 | 8.3% |
| 1947 | $158.16 | 14.4% |
| 1948 | $170.92 | 8.1% |
| 1949 | $168.79 | -1.2% |
| 1950 | $170.92 | 1.3% |
| 1951 | $184.40 | 7.9% |
| 1952 | $187.94 | 1.9% |
| 1953 | $189.36 | 0.8% |
| 1954 | $190.78 | 0.7% |
| 1955 | $190.07 | -0.4% |
| 1956 | $192.91 | 1.5% |
| 1957 | $199.29 | 3.3% |
| 1958 | $204.96 | 2.8% |
| 1959 | $206.38 | 0.7% |
| 1960 | $209.93 | 1.7% |
| 1961 | $212.06 | 1.0% |
| 1962 | $214.18 | 1.0% |
| 1963 | $217.02 | 1.3% |
| 1964 | $219.86 | 1.3% |
| 1965 | $223.40 | 1.6% |
| 1966 | $229.79 | 2.9% |
| 1967 | $236.88 | 3.1% |
| 1968 | $246.81 | 4.2% |
| 1969 | $260.28 | 5.5% |
| 1970 | $275.18 | 5.7% |
| 1971 | $287.23 | 4.4% |
| 1972 | $296.45 | 3.2% |
| 1973 | $314.89 | 6.2% |
| 1974 | $349.65 | 11.0% |
| 1975 | $381.56 | 9.1% |
| 1976 | $403.55 | 5.8% |
| 1977 | $429.79 | 6.5% |
| 1978 | $462.41 | 7.6% |
| 1979 | $514.89 | 11.3% |
| 1980 | $584.40 | 13.5% |
| 1981 | $644.68 | 10.3% |
| 1982 | $684.40 | 6.2% |
| 1983 | $706.38 | 3.2% |
| 1984 | $736.88 | 4.3% |
| 1985 | $763.12 | 3.6% |
| 1986 | $777.30 | 1.9% |
| 1987 | $805.67 | 3.6% |
| 1988 | $839.01 | 4.1% |
| 1989 | $879.43 | 4.8% |
| 1990 | $926.95 | 5.4% |
| 1991 | $965.96 | 4.2% |
| 1992 | $995.04 | 3.0% |
| 1993 | $1,025 | 3.0% |
| 1994 | $1,051 | 2.6% |
| 1995 | $1,081 | 2.8% |
| 1996 | $1,113 | 3.0% |
| 1997 | $1,138 | 2.3% |
| 1998 | $1,156 | 1.6% |
| 1999 | $1,182 | 2.2% |
| 2000 | $1,221 | 3.4% |
| 2001 | $1,256 | 2.8% |
| 2002 | $1,276 | 1.6% |
| 2003 | $1,305 | 2.3% |
| 2004 | $1,340 | 2.7% |
| 2005 | $1,385 | 3.4% |
| 2006 | $1,430 | 3.2% |
| 2007 | $1,471 | 2.8% |
| 2008 | $1,527 | 3.8% |
| 2009 | $1,522 | -0.4% |
| 2010 | $1,546 | 1.6% |
| 2011 | $1,595 | 3.2% |
| 2012 | $1,628 | 2.1% |
| 2013 | $1,652 | 1.5% |
| 2014 | $1,679 | 1.6% |
| 2015 | $1,681 | 0.1% |
| 2016 | $1,702 | 1.3% |
| 2017 | $1,738 | 2.1% |
| 2018 | $1,781 | 2.4% |
| 2019 | $1,813 | 1.8% |
| 2020 | $1,836 | 1.2% |
| 2021 | $1,922 | 4.7% |
| 2022 | $2,076 | 8.0% |
| 2023 | $2,161 | 4.1% |
| 2024 | $2,225 | 2.9% |
| 2025 | $2,283 | 2.6% |
| 2026 | $2,356 | 3.2% |
Questions about 1938 dollars
What is $100 in 1938 worth today?
$100 in 1938 is worth about $2,356 in 2026. The US dollar lost roughly 96% of its 1938 purchasing power, so it takes 23.56 2026 dollars to buy what one dollar bought in 1938. Source: US Bureau of Labor Statistics, CPI-U annual averages (2026: January–September average); CPI 14.1 in 1938 and 332.2 in 2026.
How much has inflation been since 1938?
Cumulative US inflation from 1938 to 2026 is about 2,256.3%, an average of 3.66% per year over 88 years.
What is $1,000 in 1938 worth in 2026?
$1,000 in 1938 has the same buying power as about $23,563 in 2026.
What was the inflation rate in 1938?
The US inflation rate in 1938 was -2.1%, measured as the change in the annual average CPI-U from 1937 (14.4) to 1938 (14.1).
Method: value = amount × (CPI2026 ÷ CPI1938). Figures are national averages for educational use and are not financial advice. The era summary is written with AI assistance; every figure on this page is computed from BLS data. See Understanding the CPI and the history of US inflation.