$16 in 1940 is worth $354.69 today

354.69

Value of $16 from 1940 to 2024

In 1913 the price of $16 is approximately equal to $354.69 today in 2024. Prices changed by 3.77% (or $4.03) per year on average during that period. It means that every purchase will cost you 22.17 times as much.
For anyone curious about the value of $16 in 1940 and what it would be worth today in 2024, this page provides a detailed analysis using the cumulative price change, average inflation rate, and other key financial indicators.


How Much is $16 in 1940 Worth Today?

  • Converted Amount: The $16 from 1940, adjusted for inflation, would be equivalent to $354.69 in 2024.
  • Cumulative Price Change: Over this period, the cumulative price change has been 2116.84%.
  • Average Inflation Rate: The average annual inflation rate between 1940 and 2024 has been 3.77%.
Inflation from 1940 to 2024
Cumulative price change 2116.84%
Average inflation rate 3.77%
Converted amount $354.69
Price difference $338.69
CPI in 1940 14
CPI in 2024310.358
Inflation in 19400.72%
Inflation in 20241.86%
$16 in 1940$354.69 in 2024

Key Financial Indicators:

Consumer Price Index (CPI) Comparison

  • CPI in 1940: 14
  • CPI in 2024: 310.358

The CPI index has changed by 3.53 points per year on average over 84 years. The chart below represents the price changes from 1940 to 2024 (for convenience, the values converted in US dollars):

Inflation Rate at 1940 and 2024

  • Inflation in 1940: 0.72%
  • Inflation in 2024: 1.86%

Price Difference

  • The price difference between 1940 and 2024 is $338.69.

1940 to 2024 Inflation Calculator

To understand the transformation of $16 from 1940 into 2024 US dollars, consider the following table:

YearCPIInflation rateValue in 2024
1940140.72%$16
2024310.3581.86%$354.69

This table highlights the key figures that affect how the value of money changes over time due to inflation.


Buying Power of $16 in 1940

$16 in the year 1940 is now worth $354.69 in 2024, showing a substantial increase of $338.69 over the years. This change underscores how the average inflation rate of 3.77% annually has eroded the purchasing power of the US dollar.

It means that the real purchasing power has decreased and, adjusted for inflation, you can buy 22.17 times less for the same amount of money.

To illustrate this, let's see the chart below that demonstrates how $16 has significantly decreased in worth over 84 years:

Inflation from 1940 to 2024
Cumulative price change 2116.84%
Average inflation rate 3.77%
Converted amount 354.69
Price difference 338.69
CPI in 1940 14
CPI in 2024310.358
Inflation in 19400.72%
Inflation in 20241.86%
16 in 1940354.69 in 2024