U.S. inflation rate in 1834: 2.38%

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Inflation in 1834 and Its Effect on Dollar Value

Purchasing power decreased by 2.38% in 1834 compared to the previous year, 1833. On average, you would have to spend 2.38% more money in 1834 than in 1833 for the same item.

In other words, $100 in 1833 is equivalent in purchasing power to $102.38 in 1834.

The 1833 inflation rate was -2.33%. The inflation rate in 1834 was 2.38%. The 1834 inflation rate is higher compared to the average inflation rate of 1.85% per year between 1834 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1834 was 8.6. It was 8.4 in the previous year, 1833. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.


Inflation from 1833 to 1834
Average inflation rate 2.38%
Converted amount ($100 base) $102.38
Price difference ($100 base) $2.38
CPI in 1833 8.4
CPI in 1834 8.6
Inflation in 1833 -2.33%
Inflation in 1834 2.38%


U.S. inflation chart since 1665


Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £100.00 in 1833 would be equivalent to £91.58 in 1834, an absolute change of £-8.42 and a cumulative change of -8.42%.

Compare these numbers to the US's overall absolute change of $2.38 and total percent change of 2.38%.


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 1833 and 1834.

Compare these values to the overall average of 2.3809523809523725% per year:

Category Avg Inflation (%) Total Inflation (%) $100 in 1833 → 1834
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 1833. This table and visualization use the earliest available data for each category.



How to Calculate Inflation Rate for $100, 1833 to 1834

This inflation calculator uses the following inflation rate formula:

CPI in 1834CPI in 1833
×
1833 USD value
=
1834 USD value

Then plug in historical CPI values. The U.S. CPI was 8.4 in the year 1833 and 8.6 in 1834:

8.68.4
×
$100
=
$102.38

$100 in 1833 has the same "purchasing power" or "buying power" as $102.38 in 1834.

To get the total inflation rate for the 1 years between 1833 and 1834, we use the following formula:

CPI in 1834 - CPI in 1833CPI in 1833
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

8.6 - 8.48.4
×
100
=
2%

News headlines from 1833

Politics and news often influence economic performance. Here's what was happening at the time:

  • The Falkland Islands, in the South Atlantic, fall under British control.
  • Joseph Pease, a Quaker, is admitted to Parliament.
  • Charles Darwin arrives at the Straits of Ponsonby, Fireland.

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 1834 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 20 Aug. 2018, https://www.officialdata.org/inflation-rate-in-1834.

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


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