According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.15% per year. Prices in 2018 are 2765.5% higher than prices in 1860.
In other words, $1,000 in the year 1860 is equivalent in purchasing power to $28,654.57 in 2018, a difference of $27,654.57 over 158 years.
|Cumulative price change||2765.46%|
|Average inflation rate||2.15%|
|Price difference ($1,000 base)||$27,654.57|
|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: “$1,000 in 1860 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 14 Mar. 2018, http://www.in2013dollars.com/1860-dollars?amount=1000.