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Value of 1920 US Dollars today

$100 in 1920
$1,569.89 in 2024

The inflation rate in the United States between 1920 and today has been 1,469.89%, which translates into a total increase of $1,469.89. This means that 100 dollars in 1920 are equivalent to 1,569.89 dollars in 2024. In other words, the purchasing power of $100 in 1920 equals $1,569.89 today. The average annual inflation rate between these periods has been 2.68%.

Inflation timeline in the United States (1920 - 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 1920-2023 1,420.34%
Cumulative inflation 1920-today 1,469.89%
Avg. Annual inflation 1920-2023 2.68%
CPI 1920 20.04
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 1920 and 2023, use the corresponding CPI values:

Value2023
=Value1920 ×
CPI2023/CPI1920
=$ 100 ×
304.7/20.04
$1,520.34

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

Valuetoday
=Value1920 ×
CPItoday/CPI1920
=$ 100 ×
314.63/20.04
$1,569.89

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 103 years between 1920 and 2023 and the average inflation rate was 2.6775%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.026775)103
$1,520.34

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1920 $15.2 dollars in 2023
$5 dollars in 1920 $76.02 dollars in 2023
$10 dollars in 1920 $152.03 dollars in 2023
$50 dollars in 1920 $760.17 dollars in 2023
$100 dollars in 1920 $1,520.34 dollars in 2023
$500 dollars in 1920 $7,601.7 dollars in 2023
$1,000 dollars in 1920 $15,203.41 dollars in 2023
$5,000 dollars in 1920 $76,017.03 dollars in 2023
$10,000 dollars in 1920 $152,034.05 dollars in 2023
$50,000 dollars in 1920 $760,170.27 dollars in 2023
$100,000 dollars in 1920 $1,520,340.54 dollars in 2023
$500,000 dollars in 1920 $7,601,702.7 dollars in 2023
$1,000,000 dollars in 1920 $15,203,405.41 dollars in 2023
Cumulative inflation From 1920 1,469.89%
Avg. annual inflation From 1920 2.68%
CPI 1920 20.04
CPI today 314.63

Value of Dollar over time (by year)

Period Value
1920 100
1921 89.06
1922 83.58
1923 85.07
1924 85.45
1925 87.53
1926 88.32
1927 86.61
1928 85.61
1929 85.61
1930 83.33
1931 75.88
1932 68.07
1933 64.53
1934 66.78
1935 68.48
1936 69.19
1937 71.77
1938 70.31
1939 69.4
1940 69.9
1941 73.47
1942 81.5
1943 86.36
1944 87.78
1945 89.77
1946 97.38
1947 111.39
1948 119.96
1949 118.79
1950 120.08
1951 129.52
1952 132.47
1953 133.56
1954 133.97
1955 133.6
1956 135.63
1957 140.17
1958 143.99
1959 145.45
1960 147.57
1961 149.15
1962 150.94
1963 152.81
1964 154.76
1965 157.21
1966 161.95
1967 166.44
1968 173.56
1969 183.04
1970 193.72
1971 202.04
1972 208.65
1973 221.54
1974 246.03
1975 268.52
1976 283.95
1977 302.41
1978 325.49
1979 362.12
1980 411.19
1981 453.68
1982 481.5
1983 496.96
1984 518.34
1985 536.72
1986 546.9
1987 566.94
1988 590.06
1989 618.54
1990 651.93
1991 679.54
1992 700.12
1993 720.79
1994 739.58
1995 760.33
1996 782.62
1997 800.91
1998 813.35
1999 831.14
2000 859.21
2001 883.49
2002 897.51
2003 917.88
2004 942.45
2005 974.43
2006 1,005.86
2007 1,034.56
2008 1,074.27
2009 1,070.45
2010 1,088.01
2011 1,122.36
2012 1,145.58
2013 1,162.36
2014 1,181.22
2015 1,182.62
2016 1,197.54
2017 1,223.05
2018 1,252.92
2019 1,275.63
2020 1,291.37
2021 1,352.03
2022 1,460.23
2023 1,520.34
2024-05 1,567.08
Today 1,569.89

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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