U.S. inflation rate in 1705: -8.70%

Inflation Calculator

$

Inflation in 1705 and Its Effect on Dollar Value

Purchasing power increased by 8.70% in 1705 compared to the previous year, 1704. On average, you would have to spend 8.70% less money in 1705 than in 1704 for the same item. This is an example of deflation.

In other words, $100 in 1704 is equivalent in purchasing power to $91.30 in 1705.

The 1704 inflation rate was 17.95%. The inflation rate in 1705 was -8.70%. The 1705 inflation rate is lower compared to the average inflation rate of 1.32% per year between 1705 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1705 was 4.2. It was 4.6 in the previous year, 1704. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation. Because the 1705 CPI is less than 1704 CPI, negative inflation (also known as deflation) has occurred.


Inflation from 1704 to 1705
Average inflation rate -8.70%
Converted amount ($100 base) $91.30
Price difference ($100 base) $-8.70
CPI in 1704 4.6
CPI in 1705 4.2
Inflation in 1704 17.95%
Inflation in 1705 -8.70%


U.S. inflation chart since 1665


Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. This chart shows the average rate of inflation for select CPI categories between 1704 and 1705.

Compare these values to the overall average of -8.70% per year:

Category Avg Inflation (%) Total Inflation (%) $100 in 1704 → 1705
Food 0.00 0.00 100.00
Shelter 0.00 0.00 100.00
Energy 0.00 0.00 100.00
Apparel 0.00 0.00 100.00
New vehicles 0.00 0.00 100.00
Used cars and trucks 0.00 0.00 100.00
Transportation services 0.00 0.00 100.00
Medical care services 0.00 0.00 100.00
Medical care commodities 0.00 0.00 100.00

It's important to note that not all categories may be tracked since 1704. This table and visualization use the earliest available data for each category.



How to Calculate Inflation Rate for $100, 1704 to 1705

This inflation calculator uses the following inflation rate formula:

CPI in 1705CPI in 1704
×
1704 USD value
=
1705 USD value

Then plug in historical CPI values. The U.S. CPI was 4.6 in the year 1704 and 4.2 in 1705:

4.24.6
×
$100
=
$91.30

$100 in 1704 has the same "purchasing power" or "buying power" as $91.30 in 1705.

To get the total inflation rate for the 1 years between 1704 and 1705, we use the following formula:

CPI in 1705 - CPI in 1704CPI in 1704
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

4.2 - 4.64.6
×
100
=
-9%

Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (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: “Inflation Rate in 1705 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 22 Oct. 2018, https://www.officialdata.org/inflation-rate-in-1705.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


» Read more about inflation.