CPI-U in 1932
The U.S. Consumer Price Index for All Urban Consumers (CPI-U) averaged 13.7 in 1932 (1982–84 = 100), 9.9% below the 1931 average. From December 1931 to December 1932, prices fell 10.3%. Prices in August 2026 were 24.45 times their 1932 level.
Monthly CPI-U index values, 1932
The highest monthly index in 1932 was 14.3 (January), the lowest 13.1 (December). The 12-month inflation rate ranged from −10.7% in October to −9.9% in July. 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 1932 | 14.3 | −2.1% | −10.1% |
| February 1932 | 14.1 | −1.4% | −10.2% |
| March 1932 | 14.0 | −0.7% | −10.3% |
| April 1932 | 13.9 | −0.7% | −10.3% |
| May 1932 | 13.7 | −1.4% | −10.5% |
| June 1932 | 13.6 | −0.7% | −9.9% |
| July 1932 | 13.6 | 0.0% | −9.9% |
| August 1932 | 13.5 | −0.7% | −10.6% |
| September 1932 | 13.4 | −0.7% | −10.7% |
| October 1932 | 13.3 | −0.7% | −10.7% |
| November 1932 | 13.2 | −0.8% | −10.2% |
| December 1932 | 13.1 | −0.8% | −10.3% |
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 13.7 as published by the BLS.
CPI 1932: common questions
What was the CPI in 1932?
The CPI-U annual average for 1932 was 13.7 on the 1982–84 = 100 base. Monthly values ranged from 13.1 to 14.3.
What was the inflation rate in 1932?
Measured by annual averages, consumer prices fell 9.9% in 1932; December to December the change was −10.3%.
How much is $100 from 1932 worth today?
About $2,445.11 in August 2026 prices, based on the change in CPI-U. Use the inflation calculator for other amounts.