According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 1.94% per year. Prices in 2014 are 1716.3% higher than prices in 1863.
In other words, $60 in the year 1863 is equivalent in purchasing power to $1,089.77 in 2014, a difference of $1,029.77 over 151 years.
The inflation rate in 2014 was 1.62%.
|Cumulative price change||1716.28%|
|Average inflation rate||1.94%|
|Price difference ($60 base)||$1,029.77|
|CPI in 2014||236.736|
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: “$60 in 1863 → 2014 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 16 Feb. 2018, http://www.in2013dollars.com/1863-dollars-in-2014?amount=60.