CPI-U in 1918
The U.S. Consumer Price Index for All Urban Consumers (CPI-U) averaged 15.1 in 1918 (1982–84 = 100), 18.0% above the 1917 average. From December 1917 to December 1918, prices rose 20.4%. Prices in August 2026 were 22.18 times their 1918 level.
Monthly CPI-U index values, 1918
The highest monthly index in 1918 was 16.5 (December), the lowest 14.0 (January). The 12-month inflation rate ranged from +12.7% in April to +20.7% in November. Historical context — World War I inflation (1917–1920): Wartime spending roughly doubled the price level in four years.
| Month | CPI-U index | Change from prior month | 12-month change |
|---|---|---|---|
| January 1918 | 14.0 | +2.2% | +19.7% |
| February 1918 | 14.1 | +0.7% | +17.5% |
| March 1918 | 14.0 | −0.7% | +16.7% |
| April 1918 | 14.2 | +1.4% | +12.7% |
| May 1918 | 14.5 | +2.1% | +13.3% |
| June 1918 | 14.7 | +1.4% | +13.1% |
| July 1918 | 15.1 | +2.7% | +18.0% |
| August 1918 | 15.4 | +2.0% | +18.5% |
| September 1918 | 15.7 | +1.9% | +18.0% |
| October 1918 | 16.0 | +1.9% | +18.5% |
| November 1918 | 16.3 | +1.9% | +20.7% |
| December 1918 | 16.5 | +1.2% | +20.4% |
CPI-U, U.S. city average, all items, not seasonally adjusted, 1982–84 = 100 (BLS series CUUR0000SA0). Before 2007 the BLS published the index to one decimal place. Annual average 15.1 as published by the BLS.
CPI 1918: common questions
What was the CPI in 1918?
The CPI-U annual average for 1918 was 15.1 on the 1982–84 = 100 base. Monthly values ranged from 14.0 to 16.5.
What was the inflation rate in 1918?
Measured by annual averages, consumer prices rose 18.0% in 1918; December to December the change was +20.4%.
How much is $100 from 1918 worth today?
About $2,218.41 in August 2026 prices, based on the change in CPI-U. Use the inflation calculator for other amounts.