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Value of 1921 US Dollars today

$100 in 1921
$1,762.64 in 2024

The inflation rate in the United States between 1921 and today has been 1,662.64%, which translates into a total increase of $1,662.64. This means that 100 dollars in 1921 are equivalent to 1,762.64 dollars in 2024. In other words, the purchasing power of $100 in 1921 equals $1,762.64 today. The average annual inflation rate between these periods has been 2.82%.

Inflation timeline in the United States (1921 - 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 1921-2023 1,607.01%
Cumulative inflation 1921-today 1,662.64%
Avg. Annual inflation 1921-2023 2.82%
CPI 1921 17.85
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 1921 and 2023, use the corresponding CPI values:

Value2023
=Value1921 ×
CPI2023/CPI1921
=$ 100 ×
304.7/17.85
$1,707.01

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

Valuetoday
=Value1921 ×
CPItoday/CPI1921
=$ 100 ×
314.63/17.85
$1,762.64

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 102 years between 1921 and 2023 and the average inflation rate was 2.8207%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$100 × (1 + 0.028207)102
$1,707.01

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 1921 $17.07 dollars in 2023
$5 dollars in 1921 $85.35 dollars in 2023
$10 dollars in 1921 $170.7 dollars in 2023
$50 dollars in 1921 $853.51 dollars in 2023
$100 dollars in 1921 $1,707.01 dollars in 2023
$500 dollars in 1921 $8,535.06 dollars in 2023
$1,000 dollars in 1921 $17,070.12 dollars in 2023
$5,000 dollars in 1921 $85,350.58 dollars in 2023
$10,000 dollars in 1921 $170,701.17 dollars in 2023
$50,000 dollars in 1921 $853,505.84 dollars in 2023
$100,000 dollars in 1921 $1,707,011.67 dollars in 2023
$500,000 dollars in 1921 $8,535,058.36 dollars in 2023
$1,000,000 dollars in 1921 $17,070,116.71 dollars in 2023
Cumulative inflation From 1921 1,662.64%
Avg. annual inflation From 1921 2.82%
CPI 1921 17.85
CPI today 314.63

Value of Dollar over time (by year)

Period Value
1921 100
1922 93.84
1923 95.52
1924 95.94
1925 98.27
1926 99.16
1927 97.25
1928 96.13
1929 96.13
1930 93.56
1931 85.2
1932 76.42
1933 72.46
1934 74.98
1935 76.89
1936 77.68
1937 80.58
1938 78.94
1939 77.92
1940 78.48
1941 82.49
1942 91.5
1943 96.97
1944 98.55
1945 100.79
1946 109.34
1947 125.07
1948 134.69
1949 133.38
1950 134.83
1951 145.42
1952 148.74
1953 149.95
1954 150.42
1955 150
1956 152.29
1957 157.38
1958 161.67
1959 163.31
1960 165.69
1961 167.46
1962 169.47
1963 171.57
1964 173.76
1965 176.52
1966 181.84
1967 186.88
1968 194.86
1969 205.51
1970 217.51
1971 226.84
1972 234.27
1973 248.74
1974 276.24
1975 301.49
1976 318.81
1977 339.54
1978 365.45
1979 406.58
1980 461.67
1981 509.38
1982 540.62
1983 557.98
1984 581.98
1985 602.61
1986 614.05
1987 636.55
1988 662.51
1989 694.49
1990 731.98
1991 762.98
1992 786.09
1993 809.29
1994 830.39
1995 853.69
1996 878.71
1997 899.25
1998 913.21
1999 933.19
2000 964.71
2001 991.97
2002 1,007.7
2003 1,030.58
2004 1,058.17
2005 1,094.07
2006 1,129.37
2007 1,161.58
2008 1,206.18
2009 1,201.89
2010 1,221.6
2011 1,260.16
2012 1,286.24
2013 1,305.08
2014 1,326.25
2015 1,327.83
2016 1,344.58
2017 1,373.22
2018 1,406.76
2019 1,432.25
2020 1,449.92
2021 1,518.04
2022 1,639.52
2023 1,707.01
2024-05 1,759.49
Today 1,762.64

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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