U.S. inflation · 1920–1929
$100 in 1920 has the same buying power as
$85.50
in 1929
| Cumulative price change | -14.5% |
|---|---|
| Average inflation rate | -1.73% per year |
| Converted amount ($100 base) | $85.50 |
| Price difference ($100 base) | -$14.50 |
| CPI in 1920 | 20 |
| CPI in 1929 | 17.1 |
| Inflation in 1920 | 15.61% |
| Inflation in 1929 | 0.00% |
| $100 in 1920 → 1929 | $85.50 |
| $100 in 1929 → 1920 | $117 |
Between 1920 and 1929, the Consumer Price Index went from 20 to 17.1. Cumulatively, prices declined 14.5%, which works out to an average of -1.73% per year. Put differently, a dollar in 1920 bought what $1.17 buys in 1929.
| Amount in 1920 | Value in 1929 |
|---|---|
| $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 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1920 spending costs in 1929, by category:
| Category | Avg. yearly inflation | $100 in 1920 → |
|---|---|---|
| All items (CPI-U) | -1.73% | $85.50 |
| Food | -2.64% | $78.57 |
| Apparel | -6.00% | $57.31 |
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 | 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 |
| 1924 | 17.1 | 0.0% | $85.50 |
| 1925 | 17.5 | 2.3% | $87.50 |
| 1926 | 17.7 | 1.1% | $88.50 |
| 1927 | 17.4 | -1.7% | $87.00 |
| 1928 | 17.1 | -1.7% | $85.50 |
| 1929 | 17.1 | 0.0% | $85.50 |
MLA: “Inflation from 1920 to 1929: $100 is worth $85.50 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1920-to-1929/
APA: InflationCalculator.com. Inflation from 1920 to 1929. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1920-to-1929/
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.