According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 1.77% per year. Prices in 2018 are 1364.6% higher than prices in 1865.
In other words, $3,000 in the year 1865 is equivalent in purchasing power to $43,937.00 in 2018, a difference of $40,937.00 over 153 years.
The current inflation rate in 2018 is 1.72%1. If this number holds, $3,000 today will be equivalent to $3,051.53 next year.
Cumulative price change | 1364.57% |
Average inflation rate | 1.77% |
Price difference ($3,000 base) | $40,937.00 |
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: “$3,000 in 1865 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018, http://www.in2013dollars.com/1865-dollars?amount=3000.