CPI-U in 1921
The U.S. Consumer Price Index for All Urban Consumers (CPI-U) averaged 17.9 in 1921 (1982–84 = 100), 10.5% below the 1920 average. From December 1920 to December 1921, prices fell 10.8%. Prices in August 2026 were 18.71 times their 1921 level.
Monthly CPI-U index values, 1921
The highest monthly index in 1921 was 19.0 (January), the lowest 17.3 (December). The 12-month inflation rate ranged from −15.8% in June to −1.6% in January. Historical context — Post-war deflation (1921–1922): Prices fell sharply as the wartime boom unwound.
| Month | CPI-U index | Change from prior month | 12-month change |
|---|---|---|---|
| January 1921 | 19.0 | −2.1% | −1.6% |
| February 1921 | 18.4 | −3.2% | −5.6% |
| March 1921 | 18.3 | −0.5% | −7.1% |
| April 1921 | 18.1 | −1.1% | −10.8% |
| May 1921 | 17.7 | −2.2% | −14.1% |
| June 1921 | 17.6 | −0.6% | −15.8% |
| July 1921 | 17.7 | +0.6% | −14.9% |
| August 1921 | 17.7 | 0.0% | −12.8% |
| September 1921 | 17.5 | −1.1% | −12.5% |
| October 1921 | 17.5 | 0.0% | −12.1% |
| November 1921 | 17.4 | −0.6% | −12.1% |
| December 1921 | 17.3 | −0.6% | −10.8% |
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 17.9 as published by the BLS.
CPI 1921: common questions
What was the CPI in 1921?
The CPI-U annual average for 1921 was 17.9 on the 1982–84 = 100 base. Monthly values ranged from 17.3 to 19.0.
What was the inflation rate in 1921?
Measured by annual averages, consumer prices fell 10.5% in 1921; December to December the change was −10.8%.
How much is $100 from 1921 worth today?
About $1,871.40 in August 2026 prices, based on the change in CPI-U. Use the inflation calculator for other amounts.