# $21,705 in 1923 is worth$19,293.33 in 1931

$21,705 in 1923 has the same purchasing power as$19,293.33 in 1931. Over the 8 years this is a change of $-2,411.67. The average inflation rate of the dollar between 1923 and 1931 was -1.05% per year. The cumulative price increase of the dollar over this time was -11.11%. ## The value of$21,705 from 1923 to 1931

So what does this data mean? It means that the prices in 1931 are 11.11% lower than the average prices since 1923. A dollar in 1931 can buy 112.50% of what it could buy in 1923.

We can look at the buying power equivalent for $21,705 in 1923 to see how much you would need to adjust for in order to beat inflation. For 1923 to 1931, if you started with$21,705 in 1923, you would need to have $19,293.33 in 1923 to keep up with inflation rates. So if we are saying that$21,705 is equivalent to $19,293.33 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 8 years. ## Value of$21,705 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
1923 $21,705.00 1.79% 1924$21,705.00 0.00%
1925 $22,212.72 2.34% 1926$22,466.58 1.14%
1927 $22,085.79 -1.69% 1928$21,705.00 -1.72%
1929 $21,705.00 0.00% 1930$21,197.28 -2.34%