How much is $1 million in 1938 worth today?

$1 million in 1938 is worth $23,757,447 in August 2026 dollars, according to the U.S. Consumer Price Index.

How much would I need today to match $1 million in 1938?

You would need $23,757,447 to buy what $1 million bought in 1938. That is 23.76 times as much.

Kept as cash, $1 million from 1938 buys only what $42,092.07 of 1938 money bought. It has lost 96% of its buying power.

Prices rose -2.1% in 1938. Since then the average has been 3.66% a year.

$1 million in 1938 has the same buying power as

$23,757,447 in August 2026

That is 2,276% more, an average inflation rate of 3.66% a year over 88 years.

Put the other way, $1 million today buys what $42,092.07 bought in 1938. Cash kept under the mattress since 1938 has lost 96% of its value.

$1 million from 1938 in each later year's dollars

Not everything rose at the same pace. What $1 million spent on each of these in 1938 costs today:

Amount ($) From year From month To year To month

$1,000,000 in 1938 has the same buying power as

$23,757,447 in August 2026

Prices rose 2,275.7% in total, an average of 3.66% a year.

How much is $1 million in 1938 worth today?: $1 million in 1938 is worth $23,757,447 in August 2026 dollars, according to the U.S. Consumer Price Index.
How much would I need today to match $1 million in 1938?: You would need $23,757,447 to buy what $1 million bought in 1938. That is 23.76 times as much.
How much buying power has $1 million lost since 1938?: Kept as cash, $1 million from 1938 buys only what $42,092.07 of 1938 money bought. It has lost 96% of its buying power.
What was inflation in 1938?: Prices rose -2.1% in 1938. Since then the average has been 3.66% a year.