$100 in 1924 is worth $1,711 in 2022,
because prices increased 1611.4% over that period, an average of
2.94% a year.
$100 in 1924 has
the same buying power as
$1,711
in 2022
Detailed inflation statistics
Cumulative price change
1611.4%
Average inflation rate
2.94% per year
Converted amount ($100 base)
$1,711
Price difference ($100 base)
$1,611
CPI in 1924
17.1
CPI in 2022
292.655
Inflation in 1924
0.00%
Inflation in 2022
8.00%
$100 in 1924 → 2022
$1,711
$100 in 2022 → 1924
$5.84
What happened to prices between 1924 and 2022
Between 1924 and 2022, the Consumer Price Index went from 17.1 to 292.655.
Cumulatively, prices increased 1611.4%, which works out to an average of
2.94% per year. Put differently, a dollar in 1924 bought what
$0.06 buys in 2022: the 1924 dollar
lost 94.2% of its purchasing power over
these 98 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 2022 at the same ratio, 17.11: $1,000 becomes
$17,114, and $10,000 becomes $171,143.
Amount in 1924
Value in 2022
$1.00
$17.11
$5.00
$85.57
$10.00
$171
$20.00
$342
$50.00
$856
$100
$1,711
$500
$8,557
$1,000
$17,114
$5,000
$85,572
$10,000
$171,143
$100,000
$1,711,433
$1,000,000
$17,114,327
Inflation by spending category, 1924–2022
Between 1924 and 2022, food rose the most, up 1909.1%, while apparel rose the least, up 374.2%, against 1611.4% for all items. The headline number is an average; here is what $100 of 1924
spending costs in 2022, by category:
Category
Avg. yearly inflation
$100 in 1924 →
All items (CPI-U)
2.94%
$1,711
Food
3.11%
$2,009
Apparel
1.60%
$474
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–).
Decade by decade: 1924 to 2022
Prices climbed fastest in the 1970s, averaging 7.82% a year, and fell in the 1930s (1.7% a year). Each step below chains into the full 1924–2022 change:
Years
Avg. yearly inflation
Price change
$100 from 1924, at end
1924–1930
-0.39%
-2.3%
$97.66
1930–1940
-1.75%
-16.2%
$81.87
1940–1950
5.58%
72.1%
$141
1950–1960
2.08%
22.8%
$173
1960–1970
2.74%
31.1%
$227
1970–1980
7.82%
112.4%
$482
1980–1990
4.72%
58.6%
$764
1990–2000
2.80%
31.8%
$1,007
2000–2010
2.39%
26.6%
$1,275
2010–2020
1.73%
18.7%
$1,514
2020–2022
6.34%
13.1%
$1,711
Year by year: CPI and the value of $100 from 1924
$100 from 1924 had already become $288 by
1974, on its way to $1,711 in 2022; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 14.4% in 1947, and prices fell 9.9% in 1932, the deepest deflation of the period.
Long periods are sampled every 5 years; the calculator above covers any pair of years.
The destination year: 2022
In 2022, prices rose 8.0% and $100 from 1924 had the buying
power of $1,711; the year's average CPI of 292.655 is the level
behind every 2022 figure on this page.
2022 was the year inflation returned. Consumer prices rose 8.0% on average,
the worst since 1981, driven by pandemic-era supply chains, stimulus-fueled
demand, and an energy shock from the war in Ukraine. Gas briefly topped $5 a
gallon nationally for the first time ever, and “inflation” became the
top-ranked economic concern in nearly every poll of American households.
MLA: “Inflation from 1924 to 2022: $100 is worth $1,711 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/1924-to-2022/
APA: InflationCalculator.com. Inflation from 1924 to 2022. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/1924-to-2022/