U.S. inflation · 1920–2003
$100 in 1920 has the same buying power as
$920
in 2003
| Cumulative price change | 820.0% |
|---|---|
| Average inflation rate | 2.71% per year |
| Converted amount ($100 base) | $920 |
| Price difference ($100 base) | $820 |
| CPI in 1920 | 20 |
| CPI in 2003 | 184 |
| Inflation in 1920 | 15.61% |
| Inflation in 2003 | 2.28% |
| $100 in 1920 → 2003 | $920 |
| $100 in 2003 → 1920 | $10.87 |
Between 1920 and 2003, the Consumer Price Index went from 20 to 184. Cumulatively, prices increased 820.0%, which works out to an average of 2.71% per year. Put differently, a dollar in 1920 bought what $0.11 buys in 2003.
| Amount in 1920 | Value in 2003 |
|---|---|
| $1.00 | $9.20 |
| $5.00 | $46.00 |
| $10.00 | $92.00 |
| $20.00 | $184 |
| $50.00 | $460 |
| $100 | $920 |
| $500 | $4,600 |
| $1,000 | $9,200 |
| $5,000 | $46,000 |
| $10,000 | $92,000 |
| $100,000 | $920,000 |
| $1,000,000 | $9,200,000 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1920 spending costs in 2003, by category:
| Category | Avg. yearly inflation | $100 in 1920 → |
|---|---|---|
| All items (CPI-U) | 2.71% | $920 |
| Food | 2.62% | $857 |
| Apparel | 1.25% | $281 |
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 |
| 1925 | 17.5 | 2.3% | $87.50 |
| 1930 | 16.7 | -2.3% | $83.50 |
| 1935 | 13.7 | 2.2% | $68.50 |
| 1940 | 14 | 0.7% | $70.00 |
| 1945 | 18 | 2.3% | $90.00 |
| 1950 | 24.1 | 1.3% | $121 |
| 1955 | 26.8 | -0.4% | $134 |
| 1960 | 29.6 | 1.7% | $148 |
| 1965 | 31.5 | 1.6% | $158 |
| 1970 | 38.8 | 5.7% | $194 |
| 1975 | 53.8 | 9.1% | $269 |
| 1980 | 82.4 | 13.5% | $412 |
| 1985 | 107.6 | 3.6% | $538 |
| 1990 | 130.7 | 5.4% | $653 |
| 1995 | 152.4 | 2.8% | $762 |
| 2000 | 172.2 | 3.4% | $861 |
| 2003 | 184 | 2.3% | $920 |
Long periods are sampled every 5 years; the calculator above covers any pair of years.
MLA: “Inflation from 1920 to 2003: $100 is worth $920 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1920-to-2003/
APA: InflationCalculator.com. Inflation from 1920 to 2003. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1920-to-2003/
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.