Inflation & buying power
What is 1923 dollars worth today?
$1 in 1923 has the same buying power as about $19.66 today (May 2026). Cumulative inflation since 1923 is about 1866%, or roughly 2.9% per year over 103 years.
What 1923 money is worth today
| In 1923 | Worth today (May 2026) |
|---|---|
| $10.00 | $196.55 |
| $100.00 | $1,966 |
| $1,000 | $19,655 |
| $10,000 | $196,553 |
| $100,000 | $1,965,531 |
Based on the U.S. Consumer Price Index (CPI-U). A 1923 dollar is worth about $19.66 now.
What this means
A dollar in 1923 — during the Roaring Twenties — stretched a lot further than it does now. To match that same buying power today you'd need about $19.66, because everyday prices have climbed about 1866% in the 103 years since.
Put another way, today's dollar buys what about $0.05 bought in 1923.
The inflation behind the number
- Total inflation since 1923: about 1866%.
- Average annual inflation: about 2.9% per year.
- Time span: 103 years (1923 → 2026).
- Source: CPI-U (CPIAUCNS), U.S. Bureau of Labor Statistics via FRED.
Frequently asked questions
How much is $1 from 1923 worth today?
$1 in 1923 has the same buying power as about $19.66 in May 2026, because prices have risen roughly 1866% since then (an average of about 2.9% a year).
How much has inflation been since 1923?
Cumulative inflation from 1923 to May 2026 is about 1866%. In other words, something that cost $100 in 1923 costs about $1,966 now.
Where does this data come from?
It uses the U.S. Consumer Price Index for All Urban Consumers (CPI-U, series CPIAUCNS) published by the U.S. Bureau of Labor Statistics via FRED, using annual-average CPI for past years and the latest monthly value for today.