CPI-U in 1920
The U.S. Consumer Price Index for All Urban Consumers (CPI-U) averaged 20.0 in 1920 (1982–84 = 100), 15.6% above the 1919 average. From December 1919 to December 1920, prices rose 2.6%. Prices in August 2026 were 16.75 times their 1920 level.
Monthly CPI-U index values, 1920
The highest monthly index in 1920 was 20.9 (June), the lowest 19.3 (January). The 12-month inflation rate ranged from +2.6% in December to +23.7% in June. Historical context — World War I inflation (1917–1920): Wartime spending roughly doubled the price level in four years.
| Month | CPI-U index | Change from prior month | 12-month change |
|---|---|---|---|
| January 1920 | 19.3 | +2.1% | +17.0% |
| February 1920 | 19.5 | +1.0% | +20.4% |
| March 1920 | 19.7 | +1.0% | +20.1% |
| April 1920 | 20.3 | +3.0% | +21.6% |
| May 1920 | 20.6 | +1.5% | +21.9% |
| June 1920 | 20.9 | +1.5% | +23.7% |
| July 1920 | 20.8 | −0.5% | +19.5% |
| August 1920 | 20.3 | −2.4% | +14.7% |
| September 1920 | 20.0 | −1.5% | +12.4% |
| October 1920 | 19.9 | −0.5% | +9.9% |
| November 1920 | 19.8 | −0.5% | +7.0% |
| December 1920 | 19.4 | −2.0% | +2.6% |
CPI-U, U.S. city average, all items, not seasonally adjusted, 1982–84 = 100 (BLS series CUUR0000SA0). Before 2007 the BLS published the index to one decimal place. Annual average 20.0 as published by the BLS.
CPI 1920: common questions
What was the CPI in 1920?
The CPI-U annual average for 1920 was 20.0 on the 1982–84 = 100 base. Monthly values ranged from 19.3 to 20.9.
What was the inflation rate in 1920?
Measured by annual averages, consumer prices rose 15.6% in 1920; December to December the change was +2.6%.
How much is $100 from 1920 worth today?
About $1,674.90 in August 2026 prices, based on the change in CPI-U. Use the inflation calculator for other amounts.