Inflation Rates Since 1929

Here are the annual inflation rates since 1929, measured from July to July. Also, the equivalent multiplication factor is shown. For example, something that cost $1 in 1929, would cost $12 today, inflation-adjusted.

Annual inflation in % (July base) Multiplication factor since 1929 Since 1929 using annual average rate 2007 2.36 12.0 11.829 2006 4.15 11.8 11.829 2005 3.17 11.3 11.457 2004 2.99 10.9 11.082 2003 2.11 10.6 10.792 2002 1.46 10.4 10.553 2001 2.72 10.3 10.388 2000 3.66 10.0 10.102 1999 2.14 9.6 9.772 1998 1.68 9.4 9.562 1997 2.23 9.3 9.416 1996 2.95 9.1 9.201 1995 2.76 8.8 8.939 1994 2.77 8.6 8.695 1993 2.78 8.3 8.473 1992 3.16 8.1 8.230 1991 4.45 7.9 7.988 1990 4.82 7.5 7.662 1989 4.98 7.2 7.270 1988 4.13 6.8 6.935 1987 3.93 6.6 6.663 1986 1.58 6.3 6.428 1985 3.55 6.2 6.308 1984 4.20 6.0 6.091 1983 2.46 5.8 5.840 1982 6.44 5.6 5.658 1981 10.76 5.3 5.330 1980 13.13 4.8 4.830 1979 11.26 4.2 4.252 1978 7.70 3.8 3.823 1977 6.83 3.5 3.553 1976 5.35 3.3 3.336 1975 9.72 3.1 3.155 1974 11.51 2.9 2.889 1973 5.73 2.6 2.602 1972 2.95 2.4 2.451 1971 4.36 2.4 2.373 1970 5.98 2.3 2.275 1969 5.44 2.1 2.150 1968 4.49 2.0 2.039 1967 2.77 1.9 1.955 1966 2.85 1.9 1.902 1965 1.61 1.8 1.847 1964 1.30 1.8 1.818 1963 1.32 1.8 1.795 1962 1.00 1.8 1.773 1961 1.35 1.7 1.752 1960 1.37 1.7 1.733 1959 0.69 1.7 1.708 1958 2.47 1.7 1.691 1957 3.28 1.6 1.646 1956 2.24 1.6 1.593 1955 -0.37 1.5 1.569 1954 0.37 1.6 1.574 1953 0.37 1.5 1.569 1952 3.09 1.5 1.556 1951 7.47 1.5 1.521 1950 1.69 1.4 1.410 1949 -2.87 1.4 1.395 1948 9.91 1.4 1.408 1947 12.12 1.3 1.307 1946 9.39 1.1 1.140 1945 2.26 1.0 1.051 1944 1.72 1.0 1.028 1943 6.10 1.0 1.011 1942 11.56 0.9 0.954 1941 5.00 0.8 0.860 1940 1.45 0.8 0.818 1939 -2.13 0.8 0.812 1938 -2.76 0.8 0.823 1937 4.32 0.8 0.840 1936 1.46 0.8 0.809 1935 2.24 0.8 0.801 1934 2.29 0.8 0.781 1933 -3.68 0.8 0.755 1932 -9.93 0.8 0.795 1931 -9.04 0.9 0.886 1930 -4.05 1.0 0.973 1929 1.17

Some facts from the above:

• using July rates (July 1929 to July 2007) the inflation was 1,103%, or 12.03X (for an annual rate of 3.24%)
• using average annual rates from 1929 to 2007 the inflation was 1,082%, or 11.82X
• if the price of an ounce of gold was $28 in 1929, today it would be inflation-adjusted to approx. $336.
• gold's peak was $850 in 1980. Since 1980 the inflation rate was approx. 240% (2.5X), inflation corrected price would be $2,140
• from 1929 to today the price of gold has appreciated from $28 to $660, that is 2,157% (22.5X), for an annual rate of 4.07%.
  

Of course, these are nominal published rates, which are not considered by many to be real rates (they exclude energy and food) and who knows what the rates represented 50 years ago (different baskets).

If we add extra percentage points to each annual inflation rate, the inflation since 1929 would be:

• Extra 1%/y: 2,454% (25.5X) (gold at $714)
• Extra 2%/y: 5,281% (53.8X) (gold at $1,506)
• Extra 3%/y: 11,160% (112.6X) (gold at $3,152)