ETH vs inflation: did it beat the dollar?
40% × 35%
Updated July 1, 2026 · daily closing prices (not exportable) · BLS / FRED (CPIAUCNS)
Since 2018, ETH is up 40% while U.S. consumer prices rose 35%. ETH far outpaced inflation — but the ride was brutal: its worst drop was 91%. Figures in U.S. dollars.
Base 100 since 2018
Why compare Ethereum and U.S. inflation (CPI-U)
This matchup asks whether the second-largest cryptocurrency held its value in real terms, or whether the volatility ate the gains. Searchers comparing ethereum to inflation want the honest read against the dollar's purchasing power, measured by U.S. CPI, rather than a raw return that ignores what money still buys. The pattern is one of speculative cycles layered on a bet that the network gets adopted. Inflation moves in a slow, steady line; ethereum has no cash flow and tends to surge and collapse far faster than prices drift higher. Over long windows it has historically outpaced the price level by a wide margin, but the timing of entry, not the holding period, has decided most outcomes.
Returns by window
| Window | Ethereum | U.S. inflation (CPI-U) |
|---|---|---|
| 1 year | -48% | 4% |
| 5 years | -24% | 24% |
| 10 years | — | — |
| since 2018 | 40% | 35% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| ETH | 88% | -91% |
| Inflation (CPI) | 1% | -1% |
$10,000 in each, since 2018
| Asset | Value today |
|---|---|
| ETH | $13,976 |
| Inflation (CPI) | $13,473 |
Frequently asked questions
Did ETH beat inflation?
Over the period, ETH returned 40% while U.S. consumer prices rose 35%. The gap is what the asset earned beyond simply keeping pace with the dollar.
Does this account for the dollar losing value?
Yes. The inflation line is U.S. CPI, the measure of how much purchasing power the dollar lost over the same period. Returns above that line are gains in real terms.
Does a higher return mean a better investment?
Not on its own. A higher return came with higher risk here — the volatility and the largest drop on this page show how much the value swung along the way.
Keep exploring
Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.