U.S. inflation · 1914–1923
$100 in 1914 has the same buying power as
$171
in 1923
| Cumulative price change | 71.0% |
|---|---|
| Average inflation rate | 6.14% per year |
| Converted amount ($100 base) | $171 |
| Price difference ($100 base) | $71.00 |
| CPI in 1914 | 10 |
| CPI in 1923 | 17.1 |
| Inflation in 1914 | 1.01% |
| Inflation in 1923 | 1.79% |
| $100 in 1914 → 1923 | $171 |
| $100 in 1923 → 1914 | $58.48 |
Between 1914 and 1923, the Consumer Price Index went from 10 to 17.1. Cumulatively, prices increased 71.0%, which works out to an average of 6.14% per year. Put differently, a dollar in 1914 bought what $0.58 buys in 1923.
| Amount in 1914 | Value in 1923 |
|---|---|
| $1.00 | $1.71 |
| $5.00 | $8.55 |
| $10.00 | $17.10 |
| $20.00 | $34.20 |
| $50.00 | $85.50 |
| $100 | $171 |
| $500 | $855 |
| $1,000 | $1,710 |
| $5,000 | $8,550 |
| $10,000 | $17,100 |
| $100,000 | $171,000 |
| $1,000,000 | $1,710,000 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1914 spending costs in 1923, by category:
| Category | Avg. yearly inflation | $100 in 1914 → |
|---|---|---|
| All items (CPI-U) | 6.14% | $171 |
| Apparel | 6.79% | $181 |
| Food | 4.68% | $151 |
Not shown because the BLS began these indexes after 1914: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), medical care (1935–), transportation (1935–), recreation (1993–), education & communication (1993–).
| Year | CPI | Inflation rate | $100 from 1914 |
|---|---|---|---|
| 1914 | 10 | 1.0% | $100 |
| 1915 | 10.1 | 1.0% | $101 |
| 1916 | 10.9 | 7.9% | $109 |
| 1917 | 12.8 | 17.4% | $128 |
| 1918 | 15.1 | 18.0% | $151 |
| 1919 | 17.3 | 14.6% | $173 |
| 1920 | 20 | 15.6% | $200 |
| 1921 | 17.9 | -10.5% | $179 |
| 1922 | 16.8 | -6.1% | $168 |
| 1923 | 17.1 | 1.8% | $171 |
MLA: “Inflation from 1914 to 1923: $100 is worth $171 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1914-to-1923/
APA: InflationCalculator.com. Inflation from 1914 to 1923. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1914-to-1923/
Source: U.S. Bureau of Labor Statistics, CPI-U annual averages (series CUUR0000SA0; category indexes listed on the data sources page). See how these numbers are calculated.