S&P 500 Real (Inflation-Adjusted)
S&P 500 Real Price — 150-Year Historical Chart
6,810.5
▲ 9.89% YoYDec 2025
All-Time High
6,810.5
All-Time Low
88.09
Data Since
1871
Source: Robert Shiller / Yale University (shillerdata.com)Shaded = NBER recessions
The S&P 500 price adjusted for inflation using CPI data from Shiller's dataset. Shows the true purchasing-power return of US equities. The 1929–1954 and 1968–1982 periods look very different in real terms — both saw near-zero real returns for decades.