According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.06% per year. Prices in 2018 are 2965.4% higher than prices in 1850.
In other words, $2,000,000 in the year 1850 is equivalent in purchasing power to $61,307,447.03 in 2018, a difference of $59,307,447.03 over 168 years.
|Cumulative price change||2965.37%|
|Average inflation rate||2.06%|
|Price difference ($2,000,000 base)||$59,307,447.03|
|CPI in 2018||248.991|
Politics and news often influence economic performance. Here's what was happening at the time:
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (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: “$2,000,000 in 1850 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Apr. 2018, http://www.in2013dollars.com/1850-dollars?amount=2000000.