$12 in 1828 → $303.17 in 2016

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👉 You may be interested in $12 in 1828 → 2019

U.S. Inflation Rate, $12 in 1828 to 2016

According to the Bureau of Labor Statistics consumer price index, prices in 2016 are 2,426.39% higher than average prices throughout 1828. The dollar experienced an average inflation rate of 1.73% per year during this period, meaning the real value of a dollar decreased.

In other words, $12 in 1828 is equivalent in purchasing power to about $303.17 in 2016, a difference of $291.17 over 188 years.

The 1828 inflation rate was -5.00%. The inflation rate in 2016 was 1.26%. The 2016 inflation rate is lower compared to the average inflation rate of 2.11% per year between 2016 and 2019.


Inflation from 1828 to 2016
Cumulative price change 2,426.39%
Average inflation rate 1.73%
Converted amount ($12 base) $303.17
Price difference ($12 base) $291.17
CPI in 1828 9.500
CPI in 2016 240.007
Inflation in 1828 -5.00%
Inflation in 2016 1.26%


U.S. inflation chart since 1665


Buying power of $12 in 1828

This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $12 in 1828 (price index tracking began in 1635).

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Year Dollar Value Inflation Rate
1828 $12.00 -5.00%
1829 $11.75 -2.11%
1830 $11.62 -1.08%
1831 $10.99 -5.43%
1832 $10.86 -1.15%
1833 $10.61 -2.33%
1834 $10.86 2.38%
1835 $11.12 2.33%
1836 $11.75 5.68%
1837 $12.13 3.23%
1838 $11.75 -3.12%
1839 $11.75 0.00%
1840 $10.99 -6.45%
1841 $10.99 0.00%
1842 $10.36 -5.75%
1843 $9.35 -9.76%
1844 $9.47 1.35%
1845 $9.60 1.33%
1846 $9.73 1.32%
1847 $10.36 6.49%
1848 $9.98 -3.66%
1849 $9.73 -2.53%
1850 $9.85 1.30%
1851 $9.73 -1.28%
1852 $9.73 0.00%
1853 $9.73 0.00%
1854 $10.61 9.09%
1855 $10.99 3.57%
1856 $10.74 -2.30%
1857 $10.99 2.35%
1858 $10.36 -5.75%
1859 $10.48 1.22%
1860 $10.48 0.00%
1861 $11.12 6.02%
1862 $12.76 14.77%
1863 $15.92 24.75%
1864 $19.83 24.60%
1865 $20.59 3.82%
1866 $20.08 -2.45%
1867 $18.69 -6.92%
1868 $17.94 -4.05%
1869 $17.18 -4.23%
1870 $16.55 -3.68%
1871 $15.41 -6.87%
1872 $15.41 0.00%
1873 $15.16 -1.64%
1874 $14.40 -5.00%
1875 $13.89 -3.51%
1876 $13.52 -2.73%
1877 $13.26 -1.87%
1878 $12.63 -4.76%
1879 $12.63 0.00%
1880 $12.88 2.00%
1881 $12.88 0.00%
1882 $12.88 0.00%
1883 $12.76 -0.98%
1884 $12.38 -2.97%
1885 $12.25 -1.02%
1886 $11.87 -3.09%
1887 $12.00 1.06%
1888 $12.00 0.00%
1889 $11.62 -3.16%
1890 $11.49 -1.09%
1891 $11.49 0.00%
1892 $11.49 0.00%
1893 $11.37 -1.10%
1894 $10.86 -4.44%
1895 $10.61 -2.33%
1896 $10.61 0.00%
1897 $10.48 -1.19%
1898 $10.48 0.00%
1899 $10.48 0.00%
1900 $10.61 1.20%
1901 $10.74 1.19%
1902 $10.86 1.18%
1903 $11.12 2.33%
1904 $11.24 1.14%
1905 $11.12 -1.12%
1906 $11.37 2.27%
1907 $11.87 4.44%
1908 $11.62 -2.13%
1909 $11.49 -1.09%
1910 $12.00 4.40%
1911 $12.00 0.00%
1912 $12.25 2.11%
1913 $12.51 2.06%
1914 $12.63 1.01%
1915 $12.76 1.00%
1916 $13.77 7.92%
1917 $16.17 17.43%
1918 $19.07 17.97%
1919 $21.85 14.57%
1920 $25.26 15.61%
1921 $22.61 -10.50%
1922 $21.22 -6.15%
1923 $21.60 1.79%
1924 $21.60 0.00%
1925 $22.11 2.34%
1926 $22.36 1.14%
1927 $21.98 -1.69%
1928 $21.60 -1.72%
1929 $21.60 0.00%
1930 $21.09 -2.34%
1931 $19.20 -8.98%
1932 $17.31 -9.87%
1933 $16.42 -5.11%
1934 $16.93 3.08%
1935 $17.31 2.24%
1936 $17.56 1.46%
1937 $18.19 3.60%
1938 $17.81 -2.08%
1939 $17.56 -1.42%
1940 $17.68 0.72%
1941 $18.57 5.00%
1942 $20.59 10.88%
1943 $21.85 6.13%
1944 $22.23 1.73%
1945 $22.74 2.27%
1946 $24.63 8.33%
1947 $28.17 14.36%
1948 $30.44 8.07%
1949 $30.06 -1.24%
1950 $30.44 1.26%
1951 $32.84 7.88%
1952 $33.47 1.92%
1953 $33.73 0.75%
1954 $33.98 0.75%
1955 $33.85 -0.37%
1956 $34.36 1.49%
1957 $35.49 3.31%
1958 $36.51 2.85%
1959 $36.76 0.69%
1960 $37.39 1.72%
1961 $37.77 1.01%
1962 $38.15 1.00%
1963 $38.65 1.32%
1964 $39.16 1.31%
1965 $39.79 1.61%
1966 $40.93 2.86%
1967 $42.19 3.09%
1968 $43.96 4.19%
1969 $46.36 5.46%
1970 $49.01 5.72%
1971 $51.16 4.38%
1972 $52.80 3.21%
1973 $56.08 6.22%
1974 $62.27 11.04%
1975 $67.96 9.13%
1976 $71.87 5.76%
1977 $76.55 6.50%
1978 $82.36 7.59%
1979 $91.71 11.35%
1980 $104.08 13.50%
1981 $114.82 10.32%
1982 $121.89 6.16%
1983 $125.81 3.21%
1984 $131.24 4.32%
1985 $135.92 3.56%
1986 $138.44 1.86%
1987 $143.49 3.65%
1988 $149.43 4.14%
1989 $156.63 4.82%
1990 $165.09 5.40%
1991 $172.04 4.21%
1992 $177.22 3.01%
1993 $182.53 2.99%
1994 $187.20 2.56%
1995 $192.51 2.83%
1996 $198.19 2.95%
1997 $202.74 2.29%
1998 $205.89 1.56%
1999 $210.44 2.21%
2000 $217.52 3.36%
2001 $223.71 2.85%
2002 $227.24 1.58%
2003 $232.42 2.28%
2004 $238.61 2.66%
2005 $246.69 3.39%
2006 $254.65 3.23%
2007 $261.91 2.85%
2008 $271.96 3.84%
2009 $270.99 -0.36%
2010 $275.44 1.64%
2011 $284.13 3.16%
2012 $290.01 2.07%
2013 $294.26 1.46%
2014 $299.03 1.62%
2015 $299.39 0.12%
2016 $303.17 1.26%
2017 $309.63 2.13%
2018 $317.19 2.44%
2019 $322.80 1.77%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £12.00 in 1828 would be equivalent to £1,197.35 in 2016, an absolute change of £1,185.35 and a cumulative change of 9,877.88%.

Compare these numbers to the US's overall absolute change of $291.17 and total percent change of 2,426.39%.


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 1828 and 2016.

Compare these values to the overall average of 1.73% per year:

Category Avg Inflation (%) Total Inflation (%) $12 in 1828 → 2016
Food 3.17 35,472.48 4,268.70
Shelter 4.13 201,981.22 24,249.75
Energy 3.76 102,982.18 12,369.86
Apparel 2.09 4,827.44 591.29
New vehicles 1.14 737.29 100.47
Used cars and trucks 0.76 317.62 50.11
Transportation services 4.07 181,709.19 21,817.10
Medical care services 5.18 1,328,946.29 159,485.56
Medical care commodities 3.07 29,277.59 3,525.31

It's important to note that not all categories may be tracked since 1828. This table and visualization use the earliest available data for each category.



How to Calculate Inflation Rate for $12, 1828 to 2016

This inflation calculator uses the following inflation rate formula:

CPI in 2016CPI in 1828
×
1828 USD value
=
2016 USD value

Then plug in historical CPI values. The U.S. CPI was 9.5 in the year 1828 and 240.007 in 2016:

240.0079.5
×
$12
=
$303.17

$12 in 1828 has the same "purchasing power" or "buying power" as $303.17 in 2016.

To get the total inflation rate for the 188 years between 1828 and 2016, we use the following formula:

CPI in 2016 - CPI in 1828CPI in 1828
×
100
=
Cumulative inflation rate (188 years)

Plugging in the values to this equation, we get:

240.007 - 9.59.5
×
100
=
2,426%

News headlines from 1828

Politics and news often influence economic performance. Here's what was happening at the time:

  • The first commercial railroad is commissioned in Baltimore and Ohio.
  • The Freedom Journal, is published for the first time, it is the first black newspaper

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: “$12 in 1828 → 2016 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 27 May. 2019, https://www.officialdata.org/1828-dollars-in-2016?amount=12.

Special thanks to QuickChart for providing downloadable chart images.

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


» Read more about inflation and investment.