According to the Bureau of Labor Statistics consumer price index, prices in 1913 are 96.06% lower than average prices throughout 2018. The dollar experienced an average inflation rate of 3.13% per year during this period, meaning the real value of a dollar decreased.
In other words, $1,000,000 in 2018 is equivalent in purchasing power to about $39,425.45 in 1913, a difference of $-960,574.55 over 105 years.
This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $1,000,000 in 1913 (price index tracking began in 1635).
Inflation can also vary widely by country. For comparison, in the UK £1,000,000.00 in 2018 would be equivalent to £8,896.20 in 1913, an absolute change of £-991,103.80 and a cumulative change of -99.11%.
Compare these numbers to the US's overall absolute change of $-960,574.55 and total percent change of -96.06%.
CPI is the weighted combination of many categories of spending that are tracked by the government. This chart shows the average rate of inflation for select CPI categories between 2018 and 1913.
$1,000,000 in 2018 has the same "purchasing power" or "buying power" as $39,425.45 in 1913.
You may use the following MLA citation for this page: "$1,000,000 in 2018 → 1913 | Inflation Calculator." U.S. Official Inflation Data, Alioth Finance, 23 Apr. 2019, https://www.officialdata.org/2018-dollars-in-1913?amount=1000000.