According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.14% per year. Prices in 2018 are 2738.7% higher than prices in 1860.
In other words, $2,000 in the year 1860 is equivalent in purchasing power to $56,774.69 in 2018, a difference of $54,774.69 over 158 years.
|Cumulative price change||2738.73%|
|Average inflation rate||2.14%|
|Price difference ($2,000 base)||$54,774.69|
|CPI in 2018||246.669|
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 in 1860 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 24 Jan. 2018, http://www.in2013dollars.com/1860-dollars?amount=2000.