U.S. inflation · 1921–2003
$100 in 1921 has the same buying power as
$1,028
in 2003
| Cumulative price change | 927.9% |
|---|---|
| Average inflation rate | 2.88% per year |
| Converted amount ($100 base) | $1,028 |
| Price difference ($100 base) | $928 |
| CPI in 1921 | 17.9 |
| CPI in 2003 | 184 |
| Inflation in 1921 | -10.50% |
| Inflation in 2003 | 2.28% |
| $100 in 1921 → 2003 | $1,028 |
| $100 in 2003 → 1921 | $9.73 |
Between 1921 and 2003, the Consumer Price Index went from 17.9 to 184. Cumulatively, prices increased 927.9%, which works out to an average of 2.88% per year. Put differently, a dollar in 1921 bought what $0.10 buys in 2003.
| Amount in 1921 | Value in 2003 |
|---|---|
| $1.00 | $10.28 |
| $5.00 | $51.40 |
| $10.00 | $103 |
| $20.00 | $206 |
| $50.00 | $514 |
| $100 | $1,028 |
| $500 | $5,140 |
| $1,000 | $10,279 |
| $5,000 | $51,397 |
| $10,000 | $102,793 |
| $100,000 | $1,027,933 |
| $1,000,000 | $10,279,330 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1921 spending costs in 2003, by category:
| Category | Avg. yearly inflation | $100 in 1921 → |
|---|---|---|
| All items (CPI-U) | 2.88% | $1,028 |
| Food | 3.00% | $1,132 |
| Apparel | 1.59% | $364 |
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 |
| 1926 | 17.7 | 1.1% | $98.88 |
| 1931 | 15.2 | -9.0% | $84.92 |
| 1936 | 13.9 | 1.5% | $77.65 |
| 1941 | 14.7 | 5.0% | $82.12 |
| 1946 | 19.5 | 8.3% | $109 |
| 1951 | 26 | 7.9% | $145 |
| 1956 | 27.2 | 1.5% | $152 |
| 1961 | 29.9 | 1.0% | $167 |
| 1966 | 32.4 | 2.9% | $181 |
| 1971 | 40.5 | 4.4% | $226 |
| 1976 | 56.9 | 5.8% | $318 |
| 1981 | 90.9 | 10.3% | $508 |
| 1986 | 109.6 | 1.9% | $612 |
| 1991 | 136.2 | 4.2% | $761 |
| 1996 | 156.9 | 3.0% | $877 |
| 2001 | 177.1 | 2.8% | $989 |
| 2003 | 184 | 2.3% | $1,028 |
Long periods are sampled every 5 years; the calculator above covers any pair of years.
MLA: “Inflation from 1921 to 2003: $100 is worth $1,028 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1921-to-2003/
APA: InflationCalculator.com. Inflation from 1921 to 2003. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1921-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.