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 1730.7% higher than prices in 1870.
In other words, $15,000 in the year 1870 is equivalent in purchasing power to $274,606.27 in 2018, a difference of $259,606.27 over 148 years.
The current inflation rate in 2018 is 1.72%1. If this number holds, $15,000 today will be equivalent to $15,257.67 next year.
Cumulative price change | 1730.71% |
Average inflation rate | 1.98% |
Price difference ($15,000 base) | $259,606.27 |
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: “$15,000 in 1870 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Apr. 2018, http://www.in2013dollars.com/1870-dollars?amount=15000.