Inflation Calculator
U.S. Inflation Rate, $500,000 in 1860 to 2019
According to the Bureau of Labor Statistics consumer price index, today's prices in 2019 are 2,985.45% higher than average prices throughout 1860. The dollar experienced an average inflation rate of 2.18% per year during this period, meaning the real value of a dollar decreased.
In other words, $500,000 in 1860 is equivalent in purchasing power to about $15,427,228.92 in 2019, a difference of $14,927,228.92 over 159 years.
The 1860 inflation rate was 0.00%. The current inflation rate (2018 to 2019) is now 1.79%1. If this number holds, $500,000 today will be equivalent in buying power to $508,951.14 next year. The current inflation rate page gives more detail on the latest official inflation rates.
Contents
⌃
| Cumulative price change | 2,985.45% |
| Average inflation rate | 2.18% |
| Converted amount ($500,000 base) | $15,427,228.92 |
| Price difference ($500,000 base) | $14,927,228.92 |
| CPI in 1860 | 8.300 |
| CPI in 2019 | 256.092 |
| Inflation in 1860 | 0.00% |
| Inflation in 2019 | 1.79% |
Buying power of $500,000 in 1860
This chart shows calculation of buying power equivalence, often referred to as "the value of a dollar" over time for $500,000 in 1860 (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:
Inflation by Country
Inflation can also vary widely by country. For comparison, in the UK £500,000.00 in 1860 would be equivalent to £60,291,507.01 in 2019, an absolute change of £59,791,507.01 and a cumulative change of 11,958.30%.
Compare these numbers to the US's overall absolute change of $14,927,228.92 and total percent change of 2,985.45%.
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 1860 and 2019.
Compare these values to the overall average of 2.18% per year:
| Category | Avg Inflation (%) | Total Inflation (%) | $500,000 in 1860 → 2019 |
|---|---|---|---|
| Food | 3.12 | 13,114.02 | 66,070,088.97 |
| Shelter | 4.08 | 57,722.19 | 289,110,948.90 |
| Energy | 3.78 | 36,327.92 | 182,139,579.95 |
| Apparel | 2.02 | 2,322.94 | 12,114,710.75 |
| New vehicles | 1.05 | 424.55 | 2,622,739.16 |
| Used cars and trucks | 0.61 | 163.38 | 1,316,907.83 |
| Transportation services | 4.02 | 52,846.21 | 264,731,026.77 |
| Medical care services | 5.07 | 261,268.77 | 1,306,843,848.02 |
| Medical care commodities | 3.00 | 10,907.91 | 55,039,554.12 |
It's important to note that not all categories may be tracked since 1860. This table and visualization use the earliest available data for each category.
How to Calculate Inflation Rate for $500,000 since 1860
This inflation calculator uses the following inflation rate formula:
CPI in 2019CPI in 1860
×
1860 USD value
=
2019 USD value
Then plug in historical CPI values. The U.S. CPI was 8.3 in the year 1860 and 256.092 in 2019:
256.0928.3
×
$500,000
=
$15,427,228.92
$500,000 in 1860 has the same "purchasing power" or "buying power" as $15,427,228.92 in 2019.
To get the total inflation rate for the 159 years between 1860 and 2019, we use the following formula:
CPI in 2019 - CPI in 1860CPI in 1860
×
100
=
Cumulative inflation rate (159 years)
Plugging in the values to this equation, we get:
256.092 - 8.38.3
×
100
=
2,985%
News headlines from 1860
Politics and news often influence economic performance. Here's what was happening at the time:
- Abraham Lincoln becomes the 16th President of the U.S.
- Slavery ends in the Dutch East Indies.
Data Source & Citation
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: “$500,000 in 1860 → 2019 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 17 Jun. 2019, https://www.officialdata.org/1860-dollars?amount=500000.
Special thanks to QuickChart for providing downloadable chart images.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
| Cumulative price change | 2,985.45% |
| Average inflation rate | 2.18% |
| Converted amount ($500,000 base) | $15,427,228.92 |
| Price difference ($500,000 base) | $14,927,228.92 |
| CPI in 1860 | 8.300 |
| CPI in 2019 | 256.092 |
| Inflation in 1860 | 0.00% |
| Inflation in 2019 | 1.79% |