According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.95% per year. Prices in 2018 are 2578.0% higher than prices in 1905.
In other words, $3 in the year 1905 is equivalent in purchasing power to $80.34 in 2018, a difference of $77.34 over 113 years.
|Cumulative price change||2578.00%|
|Average inflation rate||2.95%|
|Price difference ($3 base)||$77.34|
|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: “$3 in 1905 → 2018 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 21 Feb. 2018, http://www.in2013dollars.com/1905-dollars?amount=3.