Inflation in 1777 and its effect on dollar value
$1 in 1776 is equivalent in purchasing power to about $1.22 in 1777. The dollar had an average inflation rate of 21.84% per year between 1776 and 1777, producing a cumulative price increase of 21.84%. Purchasing power decreased by 21.84% in 1777 compared to 1776. On average, you would have to spend 21.84% more money in 1777 than in 1776 for the same item.
This means that prices in 1777 are 1.22 times as high as average prices since 1776, according to the Bureau of Labor Statistics consumer price index.
The inflation rate in 1776 was 12.99%. The inflation rate in 1777 was 21.84%. The 1777 inflation rate is higher compared to the average inflation rate of 1.38% per year between 1777 and 2024.
Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1777 was 10.60. It was 8.70 in the previous year, 1776. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.
Contents
⌃
| Average inflation rate | 21.84% |
| Converted amount $1 base | $1.22 |
| Price difference $1 base | $0.22 |
| CPI in 1776 | 8.700 |
| CPI in 1777 | 10.600 |
| Inflation in 1776 | 12.99% |
| Inflation in 1777 | 21.84% |
| $1 in 1776 | $1.22 in 1777 |
Inflation by Country
Inflation can also vary widely by country. For comparison, in the UK £1.00 in 1776 would be equivalent to £1.00 in 1777, an absolute change of £0.00 and a cumulative change of 0.00%.
Compare these numbers to the US's overall absolute change of $0.22 and total percent change of 21.84%.
Inflation by Spending Category
CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes.
This chart shows the average rate of inflation for select CPI categories between 1776 and 1777.
Compare these values to the overall average of 21.84% per year:
| Category | Avg Inflation (%) | Total Inflation (%) | $1 in 1776 → 1777 |
|---|---|---|---|
| Food and beverages | 0.00 | 0.00 | 1.00 |
| Housing | 0.00 | 0.00 | 1.00 |
| Apparel | 0.00 | 0.00 | 1.00 |
| Transportation | 0.00 | 0.00 | 1.00 |
| Medical care | 0.00 | 0.00 | 1.00 |
| Recreation | 0.00 | 0.00 | 1.00 |
| Education and communication | 0.00 | 0.00 | 1.00 |
| Other goods and services | 0.00 | 0.00 | 1.00 |
For all these visualizations, it's important to note that not all categories may have been tracked since 1776. This table and charts use the earliest available data for each category.
How to calculate inflation rate for $1, 1776 to 1777
Our calculations use the following inflation rate formula to calculate the change in value between 1776 and 1777:
CPI in 1777 CPI in 1776
×
1776 USD value
=
1777 USD value
Then plug in historical CPI values. The U.S. CPI was 8.7 in the year 1776 and 10.6 in 1777:
10.68.7
×
$1
=
$1.22
$1 in 1776 has the same "purchasing power" or "buying power" as $1.22 in 1777.
To get the total inflation rate for the 1 years between 1776 and 1777, we use the following formula:
CPI in 1777 - CPI in 1776CPI in 1776
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
10.6 - 8.78.7
×
100
=
22%
Data source & citation
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Price index data from 1774 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University and from the American Antiquarian Society. Price index data from 1634 to 1773 is from the American Antiquarian Society, using British pound equivalents.
You may use the following MLA citation for this page: “Inflation Rate in 1777 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 19 Apr. 2024, https://www.officialdata.org/inflation-rate-in-1777.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
in2013dollars.com is a reference website maintained by the Official Data Foundation.
| Average inflation rate | 21.84% |
| Converted amount $1 base | $1.22 |
| Price difference $1 base | $0.22 |
| CPI in 1776 | 8.700 |
| CPI in 1777 | 10.600 |
| Inflation in 1776 | 12.99% |
| Inflation in 1777 | 21.84% |
| $1 in 1776 | $1.22 in 1777 |