$17,475 in 1921 is worth$16,693.99 in 1923

$17,475 in 1921 has the same purchasing power as$16,693.99 in 1923. Over the 2 years this is a change of $-781.01. The average inflation rate of the dollar between 1921 and 1923 was -4.95% per year. The cumulative price increase of the dollar over this time was -4.47%. The value of$17,475 from 1921 to 1923

So what does this data mean? It means that the prices in 1923 are 4.47% lower than the average prices since 1921. A dollar in 1923 can buy 104.68% of what it could buy in 1921.

We can look at the buying power equivalent for $17,475 in 1921 to see how much you would need to adjust for in order to beat inflation. For 1921 to 1923, if you started with$17,475 in 1921, you would need to have $16,693.99 in 1921 to keep up with inflation rates. So if we are saying that$17,475 is equivalent to $16,693.99 over time, you can see the core concept of inflation in action. The "real value" of a single dollar decreases over time. It will pay for fewer items at the store than it did previously. In the chart below you can see how the value of the dollar is worth less over 2 years. Value of$17,475 Over Time

In the table below we can see the value of the US Dollar over time. According to the BLS, each of these amounts are equivalent in terms of what that amount could purchase at the time.

Year Dollar Value Inflation Rate
1921 $17,475.00 -10.50% 1922$16,401.12 -6.15%