San Francisco price inflation, 1928→2024

Inflation in California

Prices in San Francisco, 1928-2024 ($1,000,000)

According to the U.S. Bureau of Labor Statistics, prices in San Francisco, California are 2,244.45% higher in 2024 versus 1928 (a $22,444,531.69 difference in value).

Between 1928 and 2024: San Francisco experienced an average inflation rate of 3.34% per year. This rate of change indicates significant inflation. In other words, $1,000,000 in San Francisco in the year 1928 would cost $23,444,531.69 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.07% during this same period, inflation in San Francisco was higher.

In the year 1928: Pricing changed by -0.89%, which is significantly below the average yearly change in San Francisco during the 1928-2024 time period. Compared to inflation for all items in 1928 (-1.20%), inflation in San Francisco was higher.

Price Inflation in San Francisco, California since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1919 (23.50%), 1918 (16.53%), and 1920 (16%).

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Buying power of $1,000,000.00 since 1928

Below are calculations of equivalent buying power in San Francisco, over time, for $1,000,000 beginning in 1928. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
1928	$1,000,000.00	-0.89%
1929	$1,002,243.41	0.22%
1930	$988,222.10	-1.40%
1931	$915,311.27	-7.38%
1932	$839,596.19	-8.27%
1933	$798,093.10	-4.94%
1934	$821,648.91	2.95%
1935	$836,791.92	1.84%
1936	$831,183.40	-0.67%
1937	$859,786.88	3.44%
1938	$863,712.84	0.46%
1939	$853,617.50	-1.17%
1940	$851,934.94	-0.20%
1941	$898,485.70	5.46%
1942	$1,006,730.23	12.05%
1943	$1,073,471.68	6.63%
1944	$1,100,953.45	2.56%
1945	$1,131,800.34	2.80%
1946	$1,221,536.74	7.93%
1947	$1,378,575.43	12.86%
1948	$1,477,846.33	7.20%
1949	$1,483,454.85	0.38%
1950	$1,475,602.92	-0.53%
1951	$1,591,138.53	7.83%
1952	$1,653,954.01	3.95%
1953	$1,684,240.04	1.83%
1954	$1,687,605.16	0.20%
1955	$1,675,827.26	-0.70%
1956	$1,706,674.14	1.84%
1957	$1,779,024.12	4.24%
1958	$1,844,643.86	3.69%
1959	$1,880,538.42	1.95%
1960	$1,919,237.24	2.06%
1961	$1,944,475.60	1.32%
1962	$1,974,200.79	1.53%
1963	$2,002,243.41	1.42%
1964	$2,033,090.30	1.54%
1965	$2,071,228.27	1.88%
1966	$2,121,704.99	2.44%
1967	$2,181,716.21	2.83%
1968	$2,278,182.84	4.42%
1969	$2,398,205.27	5.27%
1970	$2,526,640.49	5.36%
1971	$2,622,546.27	3.80%
1972	$2,713,965.23	3.49%
1973	$2,864,834.55	5.56%
1974	$3,131,800.34	9.32%
1975	$3,459,338.19	10.46%
1976	$3,662,366.80	5.87%
1977	$3,929,332.59	7.29%
1978	$4,316,320.81	9.85%
1979	$4,670,779.58	8.21%
1980	$5,390,914.19	15.42%
1981	$6,070,106.56	12.60%
1982	$6,567,582.73	8.20%
1983	$6,611,329.22	0.67%
1984	$6,984,856.98	5.65%
1985	$7,282,108.81	4.26%
1986	$7,508,693.21	3.11%
1987	$7,766,124.51	3.43%
1988	$8,109,927.09	4.43%
1989	$8,503,645.54	4.85%
1990	$8,887,268.65	4.51%
1991	$9,281,547.95	4.44%
1992	$9,590,577.68	3.33%
1993	$9,849,130.68	2.70%
1994	$10,004,486.82	1.58%
1995	$10,200,785.19	1.96%
1996	$10,436,343.24	2.31%
1997	$10,794,167.13	3.43%
1998	$11,128,435.22	3.10%
1999	$11,587,773.42	4.13%
2000	$12,099,831.74	4.42%
2001	$12,764,441.95	5.49%
2002	$12,980,370.16	1.69%
2003	$13,215,367.36	1.81%
2004	$13,368,480.09	1.16%
2005	$13,631,519.91	1.97%
2006	$14,062,815.48	3.16%
2007	$14,518,053.84	3.24%
2008	$14,992,804.26	3.27%
2009	$15,086,343.24	0.62%
2010	$15,299,624.23	1.41%
2011	$15,689,057.77	2.55%
2012	$16,114,469.99	2.71%
2013	$16,473,337.07	2.23%
2014	$16,940,841.28	2.84%
2015	$17,373,707.23	2.56%
2016	$17,905,227.15	3.06%
2017	$18,490,527.20	3.27%
2018	$19,201,166.57	3.84%
2019	$19,839,276.50	3.32%
2020	$20,187,229.39	1.75%
2021	$20,831,312.39	3.19%
2022	$21,986,074.03	5.54%
2023	$22,799,848.57	3.70%
2024	$23,444,531.69	2.83%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for San Francisco, California:

Year	1914	1915	1916	1917	1918	1919	1920	1921	1922	1923	1924	1925	1926	1927	1928	1929	1930	1931	1932	1933	1934	1935	1936	1937	1938	1939	1940	1941	1942	1943	1944	1945	1946	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	9.200	9.200	9.267	10.133	11.808	14.583	16.917	15.567	14.667	14.633	14.708	14.992	15.125	14.992	14.858	14.892	14.683	13.600	12.475	11.858	12.208	12.433	12.350	12.775	12.833	12.683	12.658	13.350	14.958	15.950	16.358	16.817	18.150	20.483	21.958	22.042	21.925	23.642	24.575	25.025	25.075	24.900	25.358	26.433	27.408	27.942	28.517	28.892	29.333	29.750	30.208	30.775	31.525	32.417	33.850	35.633	37.542	38.967	40.325	42.567	46.533	51.400	54.417	58.383	64.133	69.400	80.100	90.192	97.583	98.233	103.783	108.200	111.567	115.392	120.500	126.350	132.050	137.908	142.500	146.342	148.650	151.567	155.067	160.383	165.350	172.175	179.783	189.658	192.867	196.358	198.633	202.542	208.950	215.714	222.768	224.158	227.327	233.113	239.434	244.766	251.713	258.144	266.042	274.738	285.297	294.779	299.949	309.519	326.676	338.768	348.347

Adjust San Francisco prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1928 * 1928 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for San Francisco, California was 14.858 in the year 1928 and 348.347 in 2024:

348.347 / 14.858 * $1,000,000 = $23,444,531.69

Therefore, according to U.S. Bureau of Labor Statistics, $1,000,000 in 1928 has the same "purchasing power" as $23,444,531.69 in 2024 (in the CPI category of San Francisco, California).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for San Francisco, California in 1914. In addition to San Francisco, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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