How much was a loaf of bread in Germany on November 16, 1923?

Question

How much was a loaf of bread in Germany on November 16, 1923?

Question #41393. Asked by mochyn.
Last updated Sep 15 2016.

MaggieG
Answer has 5 votes

Currently Best Answer

MaggieG avatar

Answer has 5 votes.

Currently voted the best answer.

About 201 billion marks.

http://tinyurl.com/jtfmhmf
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on+marks+loaf+of+bread&source=bl&ots=IB7oyu_wpC&sig=6z8NxOUlhb7EllvRZA-O
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Response last updated by gtho4 on Sep 15 2016.
Nov 21 2003, 5:13 PM

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Answer 1

Oops sorry! It's now 428 billion marks - but that's inflation for you!

[ wiwiss.fu-berlin.de/w3/w3collie/MACRO/00WS/PairPathologies.PDF no longer exists ]

https://mises.org/library/when-money-dies-germany-and-paper-money-after-1910

https://www.richmondfed.org/~/media/richmondfedorg/publications/research/economic_quarterly/2002/winter/pdf/hetzel.pdf

Answer 2

Hamlet.
Answer has 4 votes

Hamlet.

Answer has 4 votes.

How much is a 1923 mark compared to pounds and dollars of today...

Nov 21 2003, 6:56 PM

Answer 3

At the peak of the German inflation the Reichsmark was valued at 4.2 trillion to the US dollar. According to this site

[ eh.net/hmit/ppowerusd/ nolonger exists ]

The 1923 dollar had the purchasing power of $10.55 today, so the 1923 mark at the height of inflation was worth about 1/400,000,000,000 of a dollar in today’s money. If the price of 428 billion marks quoted by Maggie is the price at the peak of inflation then the German of that time was paying about a dollar for a loaf in today’s prices.

http://alphahistory.com/weimarrepublic/1923-hyperinflation/

http://www.history.ucsb.edu/faculty/marcuse/projects/currency.htm