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# \$1 in 1705 → \$1.10 in 1704

### U.S. Inflation Rate, \$1 in 1705 to 1704

According to the Bureau of Labor Statistics consumer price index, prices in 1704 are 9.52% higher than average prices throughout 1705. The dollar experienced an average deflation rate of -8.70% per year during this period, meaning the real value of a dollar increased.

In other words, \$1 in 1705 is equivalent in purchasing power to about \$1.10 in 1704.

The 1704 inflation rate was 17.95%. The inflation rate in 1705 was -8.70%. The 1705 inflation rate is lower compared to the average inflation rate of 1.32% per year between 1705 and 2019.

 Average inflation rate -8.70% Converted amount (\$1 base) \$1.10 Price difference (\$1 base) \$0.10 CPI in 1705 4.200 CPI in 1704 4.600 Inflation in 1704 17.95% Inflation in 1705 -8.70%

### Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. This chart shows the average rate of inflation for select CPI categories between 1705 and 1704.

Compare these values to the overall average of -8.70% per year:

Category Avg Inflation (%) Total Inflation (%) \$1 in 1704 → 1705
Food 0.00 0.00 1.00
Shelter 0.00 0.00 1.00
Energy 0.00 0.00 1.00
Apparel 0.00 0.00 1.00
New vehicles 0.00 0.00 1.00
Used cars and trucks 0.00 0.00 1.00
Transportation services 0.00 0.00 1.00
Medical care services 0.00 0.00 1.00
Medical care commodities 0.00 0.00 1.00

It's important to note that not all categories may be tracked since 1705. This table and visualization use the earliest available data for each category.

### How to Calculate Inflation Rate for \$1, 1704 to 1705

This inflation calculator uses the following inflation rate formula:

CPI in 1704CPI in 1705
×
1705 USD value
=
1704 USD value

Then plug in historical CPI values. The U.S. CPI was 4.2 in the year 1705 and 4.6 in 1704:

4.64.2
×
\$1
=
\$1.10

\$1 in 1705 has the same "purchasing power" or "buying power" as \$1.10 in 1704.

To get the total inflation rate for the 1 years between 1704 and 1705, we use the following formula:

CPI in 1704 - CPI in 1705CPI in 1705
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

4.6 - 4.24.2
×
100
=
10%

### Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (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: “\$1 in 1705 → 1704 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Aug. 2019, https://www.officialdata.org/1705-dollars-in-1704?amount=1.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

 Average inflation rate -8.70% Converted amount (\$1 base) \$1.10 Price difference (\$1 base) \$0.10 CPI in 1705 4.200 CPI in 1704 4.600 Inflation in 1704 17.95% Inflation in 1705 -8.70%