$100 in 1924 is worth $102 in 1927,
because prices increased 1.8% over that period, an average of
0.58% a year.
$100 in 1924 has
the same buying power as
$102
in 1927
Detailed inflation statistics
Cumulative price change
1.8%
Average inflation rate
0.58% per year
Converted amount ($100 base)
$102
Price difference ($100 base)
$1.75
CPI in 1924
17.1
CPI in 1927
17.4
Inflation in 1924
0.00%
Inflation in 1927
-1.69%
$100 in 1924 → 1927
$102
$100 in 1927 → 1924
$98.28
What happened to prices between 1924 and 1927
Between 1924 and 1927, the Consumer Price Index went from 17.1 to 17.4.
Cumulatively, prices increased 1.8%, which works out to an average of
0.58% per year. Put differently, a dollar in 1924 bought what
$0.98 buys in 1927: the 1924 dollar
lost 1.7% of its purchasing power over
these 3 years.
Consumer prices held flat in 1924, the CPI’s annual average unchanged from
1923 after swinging from a sharp postwar drop to a modest rise the year
before. That stability, extending the calm that had settled in after the
deflation of 1921 and 1922, became a defining feature of the rest of the
decade. Congress tightened immigration policy further with the Immigration
Act of 1924, signed May 26, which cut the national-origins quota from 3% of
each nationality’s 1910 census population to 2% of its 1890 population,
shifting admissions further toward northern and western Europe and
effectively excluding most immigration from Asia. Abroad, the U.S.-backed
Dawes Plan, adopted that August, reorganized Germany’s war reparations
payments and opened the way for American loans into the German economy,
helping stabilize European currencies after the hyperinflation that had
peaked in 1923. At home, Calvin Coolidge, who had served out
the remainder of Warren Harding’s term after his death the previous year,
won a full term of his own that November, campaigning on continued
prosperity and limited government. First-class postage remained at 2 cents,
a price unchanged since mid-1919.
Every 1924 amount converts to 1927 at the same ratio, 1.02: $1,000 becomes
$1,018, and $10,000 becomes $10,175.
Amount in 1924
Value in 1927
$1.00
$1.02
$5.00
$5.09
$10.00
$10.18
$20.00
$20.35
$50.00
$50.88
$100
$102
$500
$509
$1,000
$1,018
$5,000
$5,088
$10,000
$10,175
$100,000
$101,754
$1,000,000
$1,017,544
Inflation by spending category, 1924–1927
Between 1924 and 1927, food rose the most, up 7.9%, while apparel fell 5.6%, against 1.8% for all items. The headline number is an average; here is what $100 of 1924
spending costs in 1927, by category:
Category
Avg. yearly inflation
$100 in 1924 →
All items (CPI-U)
0.58%
$102
Food
2.57%
$108
Apparel
-1.90%
$94.40
Not shown because the BLS began these indexes after 1924: core (all items less food & energy) (1957–), energy (1957–), housing (1967–), medical care (1935–), transportation (1935–), recreation (1993–), education & communication (1993–).
Year by year: CPI and the value of $100 from 1924
$100 from 1924 had already become $102 by
1925, on its way to $102 in 1927; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 2.3% in 1925, and prices fell 1.7% in 1927, the deepest deflation of the period.
In 1927, prices fell 1.7% and $100 from 1924 had the buying
power of $102; the year's average CPI of 17.4 is the level
behind every 1927 figure on this page.
Consumer prices fell 1.7% in 1927, a mild retreat after three years of
gradual increases and part of a shallow up-and-down pattern that ran through
the second half of the decade. Aviation delivered the year’s signature
moment: Charles Lindbergh departed Roosevelt Field, New York, on May 20 and
landed at Le Bourget Field outside Paris roughly 33.5 hours later, the first
person to fly the Atlantic solo and nonstop. Detroit closed a chapter of its
own that May, when Ford halted the Model T’s production line after nearly 19
years and more than 15 million cars sold, idling tens of thousands of
workers while its factories retooled for the Model A. The Federal Reserve,
meeting with European central bankers that summer, cut its discount rate to
ease pressure on currencies still recovering from the war, a move later
cited by economists including Milton Friedman and Anna Schwartz as fuel for
the stock market speculation that built through the following two years.
First-class postage held at 2 cents.
MLA: “Inflation from 1924 to 1927: $100 is worth $102 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1924-to-1927/
APA: InflationCalculator.com. Inflation from 1924 to 1927. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1924-to-1927/