According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.18% per year. Prices in 2018 are 2076.4% higher than prices in 1875.
In other words, $500,000 in the year 1875 is equivalent in purchasing power to $10,881,815.78 in 2018, a difference of $10,381,815.78 over 143 years.
|Cumulative price change||2076.36%|
|Average inflation rate||2.18%|
|Price difference ($500,000 base)||$10,381,815.78|
|CPI in 2018||246.669|
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: “$500,000 in 1875 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 19 Jan. 2018, http://www.in2013dollars.com/1875-dollars?amount=500000.