$100 in 1923 is worth $3,789.29 in 2014

Value of $100 from 1923 to 2014

$100 in 1923 is equivalent in purchasing power to about $3,789.29 in 2014, an increase of $3,689.29 over 91 years. The dollar had an average inflation rate of 4.08% per year between 1923 and 2014, producing a cumulative price increase of 3,689.29%.

This means that prices in 2014 are 37.89 times as high as average prices since 1923, according to the Bureau of Statistics consumer price index.

The inflation rate in 1923 was 0.00%. The inflation rate in 2014 was 2.51%. The 2014 inflation rate is higher compared to the average inflation rate of 2.46% per year between 2014 and 2024.


Inflation from 1923 to 2014
Cumulative price change3,689.29%
Average inflation rate4.08%
Converted amount
$100 base
$3,789.29
Price difference
$100 base
$3,689.29
CPI in 19232.800
CPI in 2014106.100
Inflation in 19230.00%
Inflation in 20142.51%
$100 in 1923$3,789.29 in 2014

AUD inflation since 1923
Annual Rate, the Bureau of Statistics CPI
Download

Buying power of $100 in 1923

This chart shows a calculation of buying power equivalence for $100 in 1923 (price index tracking began in 1922).

For example, if you started with $100, you would need to end with $3,789.29 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $100 is equivalent to $3,789.29 over time, that means that the "real value" of a single Australian dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1923 dollars, the chart below shows how $100 is worth less over 91 years.

According to the Bureau of Statistics, each of these AUD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1923-2014
YearDollar ValueInflation Rate
1923$100.00-
1924$100.000.00%
1925$100.000.00%
1926$103.573.57%
1927$100.00-3.45%
1928$103.573.57%
1929$103.570.00%
1930$96.43-6.90%
1931$89.29-7.41%
1932$85.71-4.00%
1933$82.14-4.17%
1934$82.140.00%
1935$85.714.35%
1936$85.710.00%
1937$89.294.17%
1938$92.864.00%
1939$92.860.00%
1940$96.433.85%
1941$100.003.70%
1942$110.7110.71%
1943$114.293.23%
1944$114.290.00%
1945$114.290.00%
1946$114.290.00%
1947$121.436.25%
1948$132.148.82%
1949$142.868.11%
1950$157.1410.00%
1951$185.7118.18%
1952$217.8617.31%
1953$228.574.92%
1954$232.141.56%
1955$235.711.54%
1956$250.006.06%
1957$257.142.86%
1958$257.140.00%
1959$264.292.78%
1960$275.004.05%
1961$278.571.30%
1962$278.570.00%
1963$282.141.28%
1964$289.292.53%
1965$300.003.70%
1966$307.142.38%
1967$317.863.49%
1968$328.573.37%
1969$339.293.26%
1970$350.003.16%
1971$371.436.12%
1972$392.865.77%
1973$428.579.09%
1974$496.4315.83%
1975$571.4315.11%
1976$646.4313.13%
1977$725.0012.15%
1978$782.147.88%
1979$853.579.13%
1980$942.8610.46%
1981$1,032.149.47%
1982$1,146.4311.07%
1983$1,264.2910.28%
1984$1,314.293.95%
1985$1,400.006.52%
1986$1,528.579.18%
1987$1,657.148.41%
1988$1,778.577.33%
1989$1,910.717.43%
1990$2,053.577.48%
1991$2,117.863.13%
1992$2,139.291.01%
1993$2,175.001.67%
1994$2,217.861.97%
1995$2,321.434.67%
1996$2,382.142.62%
1997$2,389.290.30%
1998$2,407.140.75%
1999$2,442.861.48%
2000$2,553.574.53%
2001$2,664.294.34%
2002$2,746.433.08%
2003$2,821.432.73%
2004$2,885.712.28%
2005$2,964.292.72%
2006$3,067.863.49%
2007$3,139.292.33%
2008$3,278.574.44%
2009$3,335.711.74%
2010$3,432.142.89%
2011$3,546.433.33%
2012$3,607.141.71%
2013$3,696.432.48%
2014$3,789.292.51%
2015$3,846.431.51%
2016$3,896.431.30%
2017$3,971.431.92%
2018$4,046.431.89%
2019$4,110.711.59%
2020$4,146.430.87%
2021$4,264.292.84%
2022$4,546.436.62%
2023$4,782.145.18%
2024$4,832.141.05%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 85 more rows

This conversion table shows various other 1923 amounts in 2014 dollars, based on the 3,689.29% change in prices:

Conversion: 1923 dollars in 2014
Initial valueEquivalent value
$1 dollar in 1923$37.89 dollars in 2014
$5 dollars in 1923$189.46 dollars in 2014
$10 dollars in 1923$378.93 dollars in 2014
$50 dollars in 1923$1,894.64 dollars in 2014
$100 dollars in 1923$3,789.29 dollars in 2014
$500 dollars in 1923$18,946.43 dollars in 2014
$1,000 dollars in 1923$37,892.86 dollars in 2014
$5,000 dollars in 1923$189,464.29 dollars in 2014
$10,000 dollars in 1923$378,928.57 dollars in 2014
$50,000 dollars in 1923$1,894,642.86 dollars in 2014
$100,000 dollars in 1923$3,789,285.71 dollars in 2014
$500,000 dollars in 1923$18,946,428.57 dollars in 2014
$1,000,000 dollars in 1923$37,892,857.14 dollars in 2014

How to calculate inflation rate for $100, 1923 to 2014

Our calculations use the following inflation rate formula to calculate the change in value between 1923 and 2014:

CPI in 2014 CPI in 1923
×
1923 AUD value
=
2014 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1923 and 106.1 in 2014:

106.12.8
×
$100
=
$3,789.29

$100 in 1923 has the same "purchasing power" or "buying power" as $3,789.29 in 2014.

To get the total inflation rate for the 91 years between 1923 and 2014, we use the following formula:

CPI in 2014 - CPI in 1923CPI in 1923
×
100
=
Cumulative inflation rate (91 years)

Plugging in the values to this equation, we get:

106.1 - 2.82.8
×
100
=
3,689%

Data source & citation

Raw data for these calculations comes from the government of Australia's annual (CPI) as provided by the Reserve Bank of Australia. The consumer price index was established in 1922 and is tracked by Australian Bureau of Statistics (ABS).

You may use the following MLA citation for this page: “1923 dollars in 2014 | Australia Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Mar. 2024, https://www.officialdata.org/1923-AUD-in-2014.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Inflation from 1923 to 2014
Cumulative price change3,689.29%
Average inflation rate4.08%
Converted amount
$100 base
$3,789.29
Price difference
$100 base
$3,689.29
CPI in 19232.800
CPI in 2014106.100
Inflation in 19230.00%
Inflation in 20142.51%
$100 in 1923$3,789.29 in 2014