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Value of 1918 US Dollars today

$100 in 1918
$2,091.73 in 2024

The inflation rate in the United States between 1918 and today has been 1,991.73%, which translates into a total increase of $1,991.73. This means that 100 dollars in 1918 are equivalent to 2,091.73 dollars in 2024. In other words, the purchasing power of $100 in 1918 equals $2,091.73 today. The average annual inflation rate between these periods has been 2.91%.

Inflation timeline in the United States (1918 - 2024)

The following chart depicts the equivalence of $100 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (USD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 1918-2023 1,925.72%
Cumulative inflation 1918-today 1,991.73%
Avg. Annual inflation 1918-2023 2.91%
CPI 1918 15.04
CPI 2023 304.7
CPI 2024-05 (latest official data) 314.07
CPI today 314.63

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 1918 and 2023, use the corresponding CPI values:

Value2023
=Value1918 ×
CPI2023/CPI1918
=$ 100 ×
304.7/15.04
$2,025.72

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 314.63:

Valuetoday
=Value1918 ×
CPItoday/CPI1918
=$ 100 ×
314.63/15.04
$2,091.73

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $100 worth today. There are 105 years between 1918 and 2023 and the average inflation rate was 2.9067%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.029067)105
$2,025.72

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1918 $20.26 dollars in 2023
$5 dollars in 1918 $101.29 dollars in 2023
$10 dollars in 1918 $202.57 dollars in 2023
$50 dollars in 1918 $1,012.86 dollars in 2023
$100 dollars in 1918 $2,025.72 dollars in 2023
$500 dollars in 1918 $10,128.58 dollars in 2023
$1,000 dollars in 1918 $20,257.17 dollars in 2023
$5,000 dollars in 1918 $101,285.84 dollars in 2023
$10,000 dollars in 1918 $202,571.69 dollars in 2023
$50,000 dollars in 1918 $1,012,858.45 dollars in 2023
$100,000 dollars in 1918 $2,025,716.9 dollars in 2023
$500,000 dollars in 1918 $10,128,584.49 dollars in 2023
$1,000,000 dollars in 1918 $20,257,168.98 dollars in 2023
Cumulative inflation From 1918 1,991.73%
Avg. annual inflation From 1918 2.91%
CPI 1918 15.04
CPI today 314.63

Value of Dollar over time (by year)

Period Value
1918 100
1919 115.24
1920 133.24
1921 118.67
1922 111.36
1923 113.35
1924 113.85
1925 116.62
1926 117.67
1927 115.4
1928 114.07
1929 114.07
1930 111.02
1931 101.11
1932 90.69
1933 85.98
1934 88.98
1935 91.25
1936 92.19
1937 95.62
1938 93.68
1939 92.47
1940 93.13
1941 97.89
1942 108.59
1943 115.07
1944 116.95
1945 119.61
1946 129.75
1947 148.42
1948 159.83
1949 158.28
1950 160
1951 172.58
1952 176.51
1953 177.95
1954 178.5
1955 178.01
1956 180.72
1957 186.76
1958 191.86
1959 193.8
1960 196.62
1961 198.73
1962 201.11
1963 203.6
1964 206.2
1965 209.47
1966 215.79
1967 221.77
1968 231.25
1969 243.88
1970 258.12
1971 269.2
1972 278.01
1973 295.18
1974 327.81
1975 357.78
1976 378.34
1977 402.94
1978 433.68
1979 482.49
1980 547.87
1981 604.49
1982 641.55
1983 662.16
1984 690.64
1985 715.12
1986 728.7
1987 755.4
1988 786.2
1989 824.16
1990 868.64
1991 905.43
1992 932.85
1993 960.39
1994 985.43
1995 1,013.07
1996 1,042.77
1997 1,067.15
1998 1,083.71
1999 1,107.42
2000 1,144.82
2001 1,177.17
2002 1,195.84
2003 1,222.99
2004 1,255.73
2005 1,298.34
2006 1,340.22
2007 1,378.45
2008 1,431.37
2009 1,426.28
2010 1,449.68
2011 1,495.44
2012 1,526.39
2013 1,548.75
2014 1,573.87
2015 1,575.74
2016 1,595.62
2017 1,629.6
2018 1,669.41
2019 1,699.66
2020 1,720.63
2021 1,801.46
2022 1,945.63
2023 2,025.72
2024-05 2,087.99
Today 2,091.73

All available years

Today's value of US dollars by year:

1913 | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

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