According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.61% per year. Prices in 2018 are 1148.0% higher than prices in 1920.
In other words, $2 in the year 1920 is equivalent in purchasing power to $24.96 in 2018, a difference of $22.96 over 98 years.
Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, $2 today would be equivalent to $2.04 next year. The current inflation rate page gives more detail on the latest official inflation rates.
|Cumulative price change||1148.00%|
|Average inflation rate||2.61%|
|Price difference ($2 base)||$22.96|
|CPI in 1920||20|
|CPI in 2018||249.554|
Politics and news often influence economic performance. Here's what was happening at the time:
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.
You may use the following MLA citation for this page: “$2 in 1920 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 23 May. 2018, https://www.officialdata.org/1920-dollars?amount=2.