What is $100 in 1920 worth in 1923?

$100 in 1920 has the purchasing power of about $85.50 in 1923, based on the Consumer Price Index (CPI-U).

What was the average inflation rate between 1920 and 1923?

Prices fell 14.5% in total between 1920 and 1923, an average of -5.09% per year.

How much is $1 in 1920 worth today?

$1 in 1920 is equivalent to about $0.86 in 1923. Equivalently, a 1923 dollar buys what $1.17 bought in 1920.

U.S. inflation · 1920–1923

Value of $100 in 1920, adjusted to 1923

Amount From year To year

$100 in 1920 has the same buying power as

$85.50

in 1923

Detailed inflation statistics
Cumulative price change	-14.5%
Average inflation rate	-5.09% per year
Converted amount ($100 base)	$85.50
Price difference ($100 base)	-$14.50
CPI in 1920	20
CPI in 1923	17.1
Inflation in 1920	15.61%
Inflation in 1923	1.79%
$100 in 1920 → 1923	$85.50
$100 in 1923 → 1920	$117

What happened to prices between 1920 and 1923

Between 1920 and 1923, the Consumer Price Index went from 20 to 17.1. Cumulatively, prices declined 14.5%, which works out to an average of -5.09% per year. Put differently, a dollar in 1920 bought what $1.17 buys in 1923.

Common amounts: 1920 dollars in 1923

Amount in 1920	Value in 1923
$1.00	$0.86
$5.00	$4.28
$10.00	$8.55
$20.00	$17.10
$50.00	$42.75
$100	$85.50
$500	$428
$1,000	$855
$5,000	$4,275
$10,000	$8,550
$100,000	$85,500
$1,000,000	$855,000

Inflation by spending category, 1920–1923

The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1920 spending costs in 1923, by category:

Category	Avg. yearly inflation	$100 in 1920 →
All items (CPI-U)	-5.09%	$85.50
Food	-9.82%	$73.33
Apparel	-14.33%	$62.88

Not shown because the BLS began these indexes after 1920: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), medical care (1935–), transportation (1935–), recreation (1993–), education & communication (1993–).

Year by year: CPI and the value of $100 from 1920

Year	CPI	Inflation rate	$100 from 1920
1920	20	15.6%	$100
1921	17.9	-10.5%	$89.50
1922	16.8	-6.1%	$84.00
1923	17.1	1.8%	$85.50

Cite this page

MLA: “Inflation from 1920 to 1923: $100 is worth $85.50 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1920-to-1923/

APA: InflationCalculator.com. Inflation from 1920 to 1923. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1920-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.