U.S. inflation · 1921–1923
$100 in 1921 has the same buying power as
$95.53
in 1923
| Cumulative price change | -4.5% |
|---|---|
| Average inflation rate | -2.26% per year |
| Converted amount ($100 base) | $95.53 |
| Price difference ($100 base) | -$4.47 |
| CPI in 1921 | 17.9 |
| CPI in 1923 | 17.1 |
| Inflation in 1921 | -10.50% |
| Inflation in 1923 | 1.79% |
| $100 in 1921 → 1923 | $95.53 |
| $100 in 1923 → 1921 | $105 |
Between 1921 and 1923, the Consumer Price Index went from 17.9 to 17.1. Cumulatively, prices declined 4.5%, which works out to an average of -2.26% per year. Put differently, a dollar in 1921 bought what $1.05 buys in 1923.
| Amount in 1921 | Value in 1923 |
|---|---|
| $1.00 | $0.96 |
| $5.00 | $4.78 |
| $10.00 | $9.55 |
| $20.00 | $19.11 |
| $50.00 | $47.77 |
| $100 | $95.53 |
| $500 | $478 |
| $1,000 | $955 |
| $5,000 | $4,777 |
| $10,000 | $9,553 |
| $100,000 | $95,531 |
| $1,000,000 | $955,307 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1921 spending costs in 1923, by category:
| Category | Avg. yearly inflation | $100 in 1921 → |
|---|---|---|
| All items (CPI-U) | -2.26% | $95.53 |
| Food | -1.58% | $96.86 |
| Apparel | -9.65% | $81.63 |
Not shown because the BLS began these indexes after 1921: 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 1921 |
|---|---|---|---|
| 1921 | 17.9 | -10.5% | $100 |
| 1922 | 16.8 | -6.1% | $93.85 |
| 1923 | 17.1 | 1.8% | $95.53 |
MLA: “Inflation from 1921 to 1923: $100 is worth $95.53 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1921-to-1923/
APA: InflationCalculator.com. Inflation from 1921 to 1923. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1921-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.