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.
Last reviewed June 20, 2026. Figures based on the Consumer Price Index (CPI) from the U.S. Bureau of Labor Statistics. Estimates for general education, not financial advice.