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, $300 in the year 1870 is equivalent in purchasing power to $5,467.33 in 2018, a difference of $5,167.33 over 148 years.
|Cumulative price change||1722.44%|
|Average inflation rate||1.98%|
|Price difference ($300 base)||$5,167.33|
|CPI in 2018||247.867|
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: “$300 in 1870 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 18 Feb. 2018, http://www.in2013dollars.com/1870-dollars?amount=300.