1923 dollars in today's money
| In 1923 | In September 2026 |
|---|---|
| $1.00 | $19.76 |
| $5.00 | $98.81 |
| $10.00 | $197.62 |
| $20.00 | $395.24 |
| $50.00 | $988.09 |
| $100.00 | $1,976 |
| $1,000 | $19,762 |
| $10,000 | $197,619 |
Inflation in 1923
Prices rose 1.8% in 1923 compared with 1922. That is below the long-run average of 3.2% a year since 1913.
In the 1920s, the highest yearly rate was 15.6% in 1920 and the lowest was -10.9% in 1921.
The average Consumer Price Index in 1923 was 17.050 (1982–84 = 100). Today's index is 336.940, which is where the multiplier of 19.76× comes from.
Buying power: today's money in 1923
Going the other way, $100 today would have bought what $5.06 bought in 1923.
1923 compared with nearby years
| Year | $1 is worth today | Inflation that year |
|---|---|---|
| 1918 | $22.40 | 17.3% |
| 1919 | $19.44 | 15.2% |
| 1920 | $16.81 | 15.6% |
| 1921 | $18.88 | -10.9% |
| 1922 | $20.12 | -6.2% |
| 1924 | $19.68 | 0.4% |
| 1925 | $19.21 | 2.4% |
| 1926 | $19.04 | 0.9% |
| 1927 | $19.41 | -1.9% |
| 1928 | $19.64 | -1.2% |
How this is calculated
Value today = amount × (CPI in September 2026 ÷ average CPI in 1923). The data is the CPI-U, all items, not seasonally adjusted, published by the U.S. Bureau of Labor Statistics. Use the calculator above to convert between any two years.