# \$1 in 1920 is worth \$0.82 in 1923

\$

## Value of \$1 from 1920 to 1923

\$1 in 1920 is equivalent in purchasing power to about \$0.82 in 1923, a difference of \$-0.18 over 3 years. The dollar had an average deflation rate of -6.35% per year since 1920, producing a cumulative price change of -17.86%.

This means that prices in 1923 are 17.86% lower than average prices since 1920, according to Statistics Canada consumer price index.

The 1920 inflation rate was 9.80%. The inflation rate in 1923 was 0.00%. The 1923 inflation rate is lower compared to the average inflation rate of 2.80% per year between 1923 and 2021.

 Cumulative price change -17.86% Average inflation rate -6.35% Converted amount (\$1 base) \$0.82 Price difference (\$1 base) \$-0.18 CPI in 1920 11.200 CPI in 1923 9.200 Inflation in 1920 9.80% Inflation in 1923 0.00% \$1 in 1920 \$0.82 in 1923

## Buying power of \$1 in 1920

This chart shows a calculation of buying power equivalence for \$1 in 1920 (price index tracking began in 1914).

For example, if you started with \$1, you would need to end with \$0.82 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

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

Dollar inflation: 1920-1923
Year Dollar Value Inflation Rate
1920 \$1.00 9.80%
1921 \$0.84 -16.07%
1922 \$0.82 -2.13%
1923 \$0.82 0.00%
1924 \$0.81 -1.09%
1925 \$0.83 2.20%
1926 \$0.82 -1.08%
1927 \$0.81 -1.09%
1928 \$0.82 1.10%
1929 \$0.84 2.17%
1930 \$0.79 -6.38%
1931 \$0.71 -10.23%
1932 \$0.65 -7.59%
1933 \$0.63 -2.74%
1934 \$0.64 1.41%
1935 \$0.66 2.78%
1936 \$0.67 1.35%
1937 \$0.70 4.00%
1938 \$0.68 -2.56%
1939 \$0.70 2.63%
1940 \$0.73 5.13%
1941 \$0.78 6.10%
1942 \$0.80 3.45%
1943 \$0.82 2.22%
1944 \$0.80 -2.17%
1945 \$0.82 2.22%
1946 \$0.87 5.43%
1947 \$0.99 14.43%
1948 \$1.08 9.01%
1949 \$1.09 0.83%
1950 \$1.15 5.74%
1951 \$1.28 10.85%
1952 \$1.26 -1.40%
1953 \$1.26 0.00%
1954 \$1.26 0.00%
1955 \$1.27 0.71%
1956 \$1.30 2.82%
1957 \$1.33 2.05%
1958 \$1.37 2.68%
1959 \$1.38 1.31%
1960 \$1.40 1.29%
1961 \$1.40 0.00%
1962 \$1.43 1.91%
1963 \$1.46 1.88%
1964 \$1.48 1.84%
1965 \$1.53 3.01%
1966 \$1.58 3.51%
1967 \$1.64 3.95%
1968 \$1.71 4.35%
1969 \$1.79 4.69%
1970 \$1.81 1.00%
1971 \$1.90 4.93%
1972 \$2.00 5.16%
1973 \$2.19 9.38%
1974 \$2.46 12.65%
1975 \$2.70 9.42%
1976 \$2.85 5.63%
1977 \$3.12 9.40%
1978 \$3.38 8.60%
1979 \$3.71 9.76%
1980 \$4.13 11.06%
1981 \$4.63 12.12%
1982 \$5.05 9.27%
1983 \$5.29 4.59%
1984 \$5.48 3.72%
1985 \$5.72 4.40%
1986 \$5.96 4.21%
1987 \$6.21 4.19%
1988 \$6.46 3.88%
1989 \$6.79 5.26%
1990 \$7.13 4.99%
1991 \$7.40 3.75%
1992 \$7.56 2.17%
1993 \$7.69 1.65%
1994 \$7.71 0.23%
1995 \$7.84 1.74%
1996 \$8.01 2.16%
1997 \$8.07 0.78%
1998 \$8.15 1.00%
1999 \$8.37 2.63%
2000 \$8.63 3.20%
2001 \$8.70 0.72%
2002 \$9.03 3.80%
2003 \$9.21 2.08%
2004 \$9.41 2.13%
2005 \$9.61 2.09%
2006 \$9.77 1.67%
2007 \$10.00 2.38%
2008 \$10.12 1.16%
2009 \$10.25 1.32%
2010 \$10.49 2.35%
2011 \$10.73 2.30%
2012 \$10.82 0.83%
2013 \$10.96 1.24%
2014 \$11.12 1.47%
2015 \$11.29 1.61%
2016 \$11.46 1.50%
2017 \$11.64 1.56%
2018 \$11.68 0.31%
2019 \$11.91 1.99%
2020 \$12.18 2.25%
2021 \$12.27 0.73%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1920 amounts in 1923 dollars, based on the -17.86% change in prices:

Conversion: 1920 dollars in 1923
Initial value Equivalent value
\$1 dollar in 1920 \$0.82 dollars in 1923
\$5 dollars in 1920 \$4.11 dollars in 1923
\$10 dollars in 1920 \$8.21 dollars in 1923
\$50 dollars in 1920 \$41.07 dollars in 1923
\$100 dollars in 1920 \$82.14 dollars in 1923
\$500 dollars in 1920 \$410.71 dollars in 1923
\$1,000 dollars in 1920 \$821.43 dollars in 1923
\$5,000 dollars in 1920 \$4,107.14 dollars in 1923
\$10,000 dollars in 1920 \$8,214.29 dollars in 1923
\$50,000 dollars in 1920 \$41,071.43 dollars in 1923
\$100,000 dollars in 1920 \$82,142.86 dollars in 1923
\$500,000 dollars in 1920 \$410,714.29 dollars in 1923
\$1,000,000 dollars in 1920 \$821,428.57 dollars in 1923

## How to Calculate Inflation Rate for \$1, 1920 to 1923

Our calculations use the following inflation rate formula to calculate the change in value between 1920 and 1923:

CPI in 1923 CPI in 1920
×
=

Then plug in historical CPI values. The Canadian CPI was 11.2 in the year 1920 and 9.2 in 1923:

9.211.2
×
\$1
=
\$0.82

\$1 in 1920 has the same "purchasing power" or "buying power" as \$0.82 in 1923.

To get the total inflation rate for the 3 years between 1920 and 1923, we use the following formula:

CPI in 1923 - CPI in 1920CPI in 1920
×
100
=
Cumulative inflation rate (3 years)

Plugging in the values to this equation, we get:

9.2 - 11.211.2
×
100
=
-18%

Politics and news often influence economic performance. Here's what was happening at the time:

• The League of Nations' first assembly takes place in Paris.
• The British Parliament passes the Fourth Home Rule Act, dividing Ireland into two parts and leading to a yearlong Anglo-Irish war in the southern counties.
• The Catholic Church canonizes Joan of Arc, formally making her a saint.
• The 19th Amendment to the constitution is ratified, granting U.S. woman suffrage for the first time.

## Data Source & Citation

Raw data for these calculations comes from the government of Canada's annual Consumer Price Index (CPI), established in 1914 and computed by Statistics Canada (StatCan).

You may use the following MLA citation for this page: “\$1 in 1920 → 1923 | Canada Inflation Calculator.” Official Inflation Data, Alioth Finance, 23 Jun. 2021, https://www.officialdata.org/canada/inflation/1920?amount=1&endYear=1923.

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.