According to the Bureau of Labor Statistics, the dollar experienced an average inflation rate of 1.99% per year. Prices in 2017 are 1699.8% higher than prices in 1870.
In other words, $500,000 in the year 1870 is equivalent to $8,998,955.94 in 2017, a difference of $8,498,955.94 over 147 years.
|Cumulative price change||1699.79%|
|Average inflation rate||1.99%|
|Price difference ($500,000 base)||$8,498,955.94|
|CPI in 2017||244.786|
Politics and news often play an important role in economic performance.
Inflation Data Source: 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.