$100 in 1923 has the same buying power as about $1,943 in 2026. Prices rose 1,842.9% over 103 years, an average of 2.92% per year, and the dollar lost about 95% of its 1923 purchasing power.
Ledger
$100 of 1923- Cumulative inflation
- 1,842.9%
- Average per year
- 2.92%
- Inflation rate in 1923
- 1.8%
- CPI-U 1923 → 2026
- 17.1 → 332.2
- Multiplier
- ×19.429
On the time scale
1923 to 2026CPI-U annual averages (1982–84 = 100). Calculate a different amount or end year.
1923 in context: Postwar deflation and the 1920s
Prices peaked in 1920 and then fell hard as the Federal Reserve raised interest rates and wartime demand disappeared: the CPI dropped about 16% from 1920 to 1922, one of the steepest declines on record. The rest of the decade was unusually calm, with annual changes between −1.7% and +2.3%, even as output, stock prices, and consumer credit grew quickly.
- Inflation in 1923 was 1.8%, the 41st lowest annual rate of the 112 full years from 1914 to 2025.
- From 1920 to 1929, inflation averaged -0.12% a year, from a high of 15.6% in 1920 to a low of -10.5% in 1921.
- Prices first reached double their 1923 level in 1968, 45 years later.
Read more: The history of US inflation
1923 dollars in 2026 dollars
| AMOUNT IN 1923 | VALUE IN 2026 |
|---|---|
| $1 | $19.43 |
| $5 | $97.15 |
| $10 | $194.29 |
| $20 | $388.59 |
| $50 | $971.47 |
| $100 | $1,943 |
| $500 | $9,715 |
| $1,000 | $19,429 |
| $10,000 | $194,294 |
| $100,000 | $1,942,942 |
Value of $100 from 1923, year by year
What $100 from 1923 was worth in each later year, with that year's inflation rate.
| YEAR | $100 IN 1923 EQUALS | INFLATION RATE |
|---|---|---|
| 1923 | $100 | 1.8% |
| 1924 | $100 | 0.0% |
| 1925 | $102.34 | 2.3% |
| 1926 | $103.51 | 1.1% |
| 1927 | $101.75 | -1.7% |
| 1928 | $100 | -1.7% |
| 1929 | $100 | 0.0% |
| 1930 | $97.66 | -2.3% |
| 1931 | $88.89 | -9.0% |
| 1932 | $80.12 | -9.9% |
| 1933 | $76.02 | -5.1% |
| 1934 | $78.36 | 3.1% |
| 1935 | $80.12 | 2.2% |
| 1936 | $81.29 | 1.5% |
| 1937 | $84.21 | 3.6% |
| 1938 | $82.46 | -2.1% |
| 1939 | $81.29 | -1.4% |
| 1940 | $81.87 | 0.7% |
| 1941 | $85.96 | 5.0% |
| 1942 | $95.32 | 10.9% |
| 1943 | $101.17 | 6.1% |
| 1944 | $102.92 | 1.7% |
| 1945 | $105.26 | 2.3% |
| 1946 | $114.04 | 8.3% |
| 1947 | $130.41 | 14.4% |
| 1948 | $140.94 | 8.1% |
| 1949 | $139.18 | -1.2% |
| 1950 | $140.94 | 1.3% |
| 1951 | $152.05 | 7.9% |
| 1952 | $154.97 | 1.9% |
| 1953 | $156.14 | 0.8% |
| 1954 | $157.31 | 0.7% |
| 1955 | $156.73 | -0.4% |
| 1956 | $159.06 | 1.5% |
| 1957 | $164.33 | 3.3% |
| 1958 | $169.01 | 2.8% |
| 1959 | $170.18 | 0.7% |
| 1960 | $173.10 | 1.7% |
| 1961 | $174.85 | 1.0% |
| 1962 | $176.61 | 1.0% |
| 1963 | $178.95 | 1.3% |
| 1964 | $181.29 | 1.3% |
| 1965 | $184.21 | 1.6% |
| 1966 | $189.47 | 2.9% |
| 1967 | $195.32 | 3.1% |
| 1968 | $203.51 | 4.2% |
| 1969 | $214.62 | 5.5% |
| 1970 | $226.90 | 5.7% |
| 1971 | $236.84 | 4.4% |
| 1972 | $244.44 | 3.2% |
| 1973 | $259.65 | 6.2% |
| 1974 | $288.30 | 11.0% |
| 1975 | $314.62 | 9.1% |
| 1976 | $332.75 | 5.8% |
| 1977 | $354.39 | 6.5% |
| 1978 | $381.29 | 7.6% |
| 1979 | $424.56 | 11.3% |
| 1980 | $481.87 | 13.5% |
| 1981 | $531.58 | 10.3% |
| 1982 | $564.33 | 6.2% |
| 1983 | $582.46 | 3.2% |
| 1984 | $607.60 | 4.3% |
| 1985 | $629.24 | 3.6% |
| 1986 | $640.94 | 1.9% |
| 1987 | $664.33 | 3.6% |
| 1988 | $691.81 | 4.1% |
| 1989 | $725.15 | 4.8% |
| 1990 | $764.33 | 5.4% |
| 1991 | $796.49 | 4.2% |
| 1992 | $820.47 | 3.0% |
| 1993 | $845.03 | 3.0% |
| 1994 | $866.67 | 2.6% |
| 1995 | $891.23 | 2.8% |
| 1996 | $917.54 | 3.0% |
| 1997 | $938.60 | 2.3% |
| 1998 | $953.22 | 1.6% |
| 1999 | $974.27 | 2.2% |
| 2000 | $1,007 | 3.4% |
| 2001 | $1,036 | 2.8% |
| 2002 | $1,052 | 1.6% |
| 2003 | $1,076 | 2.3% |
| 2004 | $1,105 | 2.7% |
| 2005 | $1,142 | 3.4% |
| 2006 | $1,179 | 3.2% |
| 2007 | $1,213 | 2.8% |
| 2008 | $1,259 | 3.8% |
| 2009 | $1,255 | -0.4% |
| 2010 | $1,275 | 1.6% |
| 2011 | $1,315 | 3.2% |
| 2012 | $1,343 | 2.1% |
| 2013 | $1,362 | 1.5% |
| 2014 | $1,384 | 1.6% |
| 2015 | $1,386 | 0.1% |
| 2016 | $1,404 | 1.3% |
| 2017 | $1,433 | 2.1% |
| 2018 | $1,468 | 2.4% |
| 2019 | $1,495 | 1.8% |
| 2020 | $1,514 | 1.2% |
| 2021 | $1,585 | 4.7% |
| 2022 | $1,711 | 8.0% |
| 2023 | $1,782 | 4.1% |
| 2024 | $1,834 | 2.9% |
| 2025 | $1,883 | 2.6% |
| 2026 | $1,943 | 3.2% |
Questions about 1923 dollars
What is $100 in 1923 worth today?
$100 in 1923 is worth about $1,943 in 2026. The US dollar lost roughly 95% of its 1923 purchasing power, so it takes 19.43 2026 dollars to buy what one dollar bought in 1923. Source: US Bureau of Labor Statistics, CPI-U annual averages (2026: January–September average); CPI 17.1 in 1923 and 332.2 in 2026.
How much has inflation been since 1923?
Cumulative US inflation from 1923 to 2026 is about 1,842.9%, an average of 2.92% per year over 103 years.
What is $1,000 in 1923 worth in 2026?
$1,000 in 1923 has the same buying power as about $19,429 in 2026.
What was the inflation rate in 1923?
The US inflation rate in 1923 was 1.8%, measured as the change in the annual average CPI-U from 1922 (16.8) to 1923 (17.1).
Method: value = amount × (CPI2026 ÷ CPI1923). Figures are national averages for educational use and are not financial advice. The era summary is written with AI assistance; every figure on this page is computed from BLS data. See Understanding the CPI and the history of US inflation.