$1 in 1923 is worth $19.94 today
A dollar in January 1923 had the same buying power as $19.94 in Aug 2026. Prices have risen 1894% since then. Change the amount or the months below.
US CPI data through Aug 2026, updated monthly. How we calculate$1 in Jan 1923 is worth, in Aug 2026
Prices rose 1893.9% in total, about 2.93% a year. Cash kept under the mattress since Jan 1923 now buys only 5% of what it used to.
US Consumer Price Index (CPI-U, all items, not seasonally adjusted), Bureau of Labor Statistics. Data through Aug 2026. Oct 2025 was not published and is estimated from the months around it.
What $1 from 1923 is worth now
Prices in the US have risen 1894% since 1923, so it takes $19.94 today to buy what $1 bought then. Put the other way, $1 kept in cash since 1923 now buys only 5.0% of what it did.
That is an average of 2.9% a year over 104 years. Prices actually fell for several years in the early 1930s, during the Great Depression, before rising again.
For contrast, $1 put into the S&P 500 in January 1923, with dividends reinvested, would be worth about $38,449 today, 1928× what inflation alone requires. Cash loses buying power; invested money has historically outgrown it.
| Year | Same buying power |
|---|---|
| 1923 | $1.00 |
| 1930 | $1.02 |
| 1940 | $0.83 |
| 1950 | $1.40 |
| 1960 | $1.74 |
| 1970 | $2.25 |
| 1980 | $4.63 |
| 1990 | $7.58 |
| 2000 | $10.05 |
| 2010 | $12.90 |
| 2020 | $15.36 |
| Aug 2026 | $19.94 |
CPI in January of each year; the last row uses the latest month.
Other years
Common questions
How much is $1 from 1923 worth today?
About $19.94 in Aug 2026 dollars, based on the US Consumer Price Index (CPI-U) from January 1923.
How much have prices gone up since 1923?
1894% in total, or about 2.9% a year on average.
What would $1 in 1923 buy today?
It buys about 5.0% of what it bought in 1923. You would need $19.94 to buy the same things.
How is this calculated?
Today's value = $1 × (latest CPI ÷ CPI in January 1923). CPI is the Bureau of Labor Statistics measure of the prices US households pay.
Based on the US Consumer Price Index for All Urban Consumers (CPI-U), all items, from the Bureau of Labor Statistics. Individual prices, such as homes, college or healthcare, rose faster or slower than the average.
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