U.S. inflation · 1916–1923
$100 in 1916 has the same buying power as
$157
in 1923
| Cumulative price change | 56.9% |
|---|---|
| Average inflation rate | 6.64% per year |
| Converted amount ($100 base) | $157 |
| Price difference ($100 base) | $56.88 |
| CPI in 1916 | 10.9 |
| CPI in 1923 | 17.1 |
| Inflation in 1916 | 7.92% |
| Inflation in 1923 | 1.79% |
| $100 in 1916 → 1923 | $157 |
| $100 in 1923 → 1916 | $63.74 |
Between 1916 and 1923, the Consumer Price Index went from 10.9 to 17.1. Cumulatively, prices increased 56.9%, which works out to an average of 6.64% per year. Put differently, a dollar in 1916 bought what $0.64 buys in 1923.
| Amount in 1916 | Value in 1923 |
|---|---|
| $1.00 | $1.57 |
| $5.00 | $7.84 |
| $10.00 | $15.69 |
| $20.00 | $31.38 |
| $50.00 | $78.44 |
| $100 | $157 |
| $500 | $784 |
| $1,000 | $1,569 |
| $5,000 | $7,844 |
| $10,000 | $15,688 |
| $100,000 | $156,881 |
| $1,000,000 | $1,568,807 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1916 spending costs in 1923, by category:
| Category | Avg. yearly inflation | $100 in 1916 → |
|---|---|---|
| All items (CPI-U) | 6.64% | $157 |
| Apparel | 7.07% | $161 |
| Food | 4.52% | $136 |
Not shown because the BLS began these indexes after 1916: 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 1916 |
|---|---|---|---|
| 1916 | 10.9 | 7.9% | $100 |
| 1917 | 12.8 | 17.4% | $117 |
| 1918 | 15.1 | 18.0% | $139 |
| 1919 | 17.3 | 14.6% | $159 |
| 1920 | 20 | 15.6% | $183 |
| 1921 | 17.9 | -10.5% | $164 |
| 1922 | 16.8 | -6.1% | $154 |
| 1923 | 17.1 | 1.8% | $157 |
MLA: “Inflation from 1916 to 1923: $100 is worth $157 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1916-to-1923/
APA: InflationCalculator.com. Inflation from 1916 to 1923. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1916-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.