According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 1.78% per year. Prices in 2016 are 1360.4% higher than prices in 1864.
In other words, $12 in the year 1864 is equivalent in purchasing power to $175.25 in 2016, a difference of $163.25 over 152 years.
The inflation rate in 2016 was 1.26%.
|Cumulative price change||1360.42%|
|Average inflation rate||1.78%|
|Price difference ($12 base)||$163.25|
|CPI in 2016||240.007|
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: “$12 in 1864 → 2016 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 15 Mar. 2018, http://www.in2013dollars.com/1864-dollars-in-2016?amount=12.