CPI-U in 1931
The U.S. Consumer Price Index for All Urban Consumers (CPI-U) averaged 15.2 in 1931 (1982–84 = 100), 9.0% below the 1930 average. From December 1930 to December 1931, prices fell 9.3%. Prices in August 2026 were 22.04 times their 1931 level.
Monthly CPI-U index values, 1931
The highest monthly index in 1931 was 15.9 (January), the lowest 14.6 (December). The 12-month inflation rate ranged from −10.4% in November to −7.0% in January. Historical context — Great Depression deflation (1930–1933): The price level fell by about a quarter as demand collapsed and banks failed.
| Month | CPI-U index | Change from prior month | 12-month change |
|---|---|---|---|
| January 1931 | 15.9 | −1.2% | −7.0% |
| February 1931 | 15.7 | −1.3% | −7.6% |
| March 1931 | 15.6 | −0.6% | −7.7% |
| April 1931 | 15.5 | −0.6% | −8.8% |
| May 1931 | 15.3 | −1.3% | −9.5% |
| June 1931 | 15.1 | −1.3% | −10.1% |
| July 1931 | 15.1 | 0.0% | −9.0% |
| August 1931 | 15.1 | 0.0% | −8.5% |
| September 1931 | 15.0 | −0.7% | −9.6% |
| October 1931 | 14.9 | −0.7% | −9.7% |
| November 1931 | 14.7 | −1.3% | −10.4% |
| December 1931 | 14.6 | −0.7% | −9.3% |
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 15.2 as published by the BLS.
CPI 1931: common questions
What was the CPI in 1931?
The CPI-U annual average for 1931 was 15.2 on the 1982–84 = 100 base. Monthly values ranged from 14.6 to 15.9.
What was the inflation rate in 1931?
Measured by annual averages, consumer prices fell 9.0% in 1931; December to December the change was −9.3%.
How much is $100 from 1931 worth today?
About $2,203.82 in August 2026 prices, based on the change in CPI-U. Use the inflation calculator for other amounts.