U.S. inflation · 1923–1973
$100 in 1923 has the same buying power as
$260
in 1973
| Cumulative price change | 159.6% |
|---|---|
| Average inflation rate | 1.93% per year |
| Converted amount ($100 base) | $260 |
| Price difference ($100 base) | $160 |
| CPI in 1923 | 17.1 |
| CPI in 1973 | 44.4 |
| Inflation in 1923 | 1.79% |
| Inflation in 1973 | 6.22% |
| $100 in 1923 → 1973 | $260 |
| $100 in 1973 → 1923 | $38.51 |
Between 1923 and 1973, the Consumer Price Index went from 17.1 to 44.4. Cumulatively, prices increased 159.6%, which works out to an average of 1.93% per year. Put differently, a dollar in 1923 bought what $0.39 buys in 1973.
| Amount in 1923 | Value in 1973 |
|---|---|
| $1.00 | $2.60 |
| $5.00 | $12.98 |
| $10.00 | $25.96 |
| $20.00 | $51.93 |
| $50.00 | $130 |
| $100 | $260 |
| $500 | $1,298 |
| $1,000 | $2,596 |
| $5,000 | $12,982 |
| $10,000 | $25,965 |
| $100,000 | $259,649 |
| $1,000,000 | $2,596,491 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 1923 spending costs in 1973, by category:
| Category | Avg. yearly inflation | $100 in 1923 → |
|---|---|---|
| All items (CPI-U) | 1.93% | $260 |
| Food | 2.31% | $313 |
| Apparel | 1.75% | $238 |
Not shown because the BLS began these indexes after 1923: 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 1923 |
|---|---|---|---|
| 1923 | 17.1 | 1.8% | $100 |
| 1925 | 17.5 | 2.3% | $102 |
| 1927 | 17.4 | -1.7% | $102 |
| 1929 | 17.1 | 0.0% | $100 |
| 1931 | 15.2 | -9.0% | $88.89 |
| 1933 | 13 | -5.1% | $76.02 |
| 1935 | 13.7 | 2.2% | $80.12 |
| 1937 | 14.4 | 3.6% | $84.21 |
| 1939 | 13.9 | -1.4% | $81.29 |
| 1941 | 14.7 | 5.0% | $85.96 |
| 1943 | 17.3 | 6.1% | $101 |
| 1945 | 18 | 2.3% | $105 |
| 1947 | 22.3 | 14.4% | $130 |
| 1949 | 23.8 | -1.2% | $139 |
| 1951 | 26 | 7.9% | $152 |
| 1953 | 26.7 | 0.8% | $156 |
| 1955 | 26.8 | -0.4% | $157 |
| 1957 | 28.1 | 3.3% | $164 |
| 1959 | 29.1 | 0.7% | $170 |
| 1961 | 29.9 | 1.0% | $175 |
| 1963 | 30.6 | 1.3% | $179 |
| 1965 | 31.5 | 1.6% | $184 |
| 1967 | 33.4 | 3.1% | $195 |
| 1969 | 36.7 | 5.5% | $215 |
| 1971 | 40.5 | 4.4% | $237 |
| 1973 | 44.4 | 6.2% | $260 |
Long periods are sampled every 2 years; the calculator above covers any pair of years.
MLA: “Inflation from 1923 to 1973: $100 is worth $260 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1923-to-1973/
APA: InflationCalculator.com. Inflation from 1923 to 1973. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1923-to-1973/
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.