$1,000,000 in 1870 → $18,224,442.68 in 2018

U.S. Inflation Rate, 1870-2018 ($1,000,000)

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 1.98% per year. Prices in 2018 are 1722.4% higher than prices in 1870.

In other words, $1,000,000 in the year 1870 is equivalent in purchasing power to $18,224,442.68 in 2018, a difference of $17,224,442.68 over 148 years.

The current inflation rate in 2018 is 1.26%1. If this number holds, $1,000,000 today will be equivalent to $1,012,586.50 next year.

Inflation from 1870 to 2018
Cumulative price change 1722.44%
Average inflation rate 1.98%
Price difference ($1,000,000 base) $17,224,442.68
CPI in 2018 247.867


U.S. inflation chart since 1665


Inflation rates for specific categories

Televisions · Gasoline (all types) · Juices and nonalcoholic drinks · More

Inflation-adjusted measures

S&P 500 price · S&P 500 earnings · Shiller P/E

News headlines from 1870

Politics and news often influence economic performance. Here's what was happening at the time:

  • New York begins building the Brooklyn Bridge (the bridge is completed in 1883).
  • Austria inaugurates Wiener Musikverein, also known as the Great Hall, in Vienna.
  • The Carson City mint, in Nevada, starts issuing coins.

Inflation Data Source

Raw data for these calculations comes from the Bureau of Labor Statistics' (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: “$1,000,000 in 1870 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Feb. 2018, http://www.in2013dollars.com/1870-dollars?amount=1000000.


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