U.S. inflation rate in 1857: 2.35%

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Inflation in 1857 and Its Effect on Dollar Value

Purchasing power decreased by 2.35% in 1857 compared to the previous year, 1856. On average, you would have to spend 2.35% more money in 1857 than in 1856 for the same item.

In other words, $1 in 1856 is equivalent in purchasing power to $1.02 in 1857.

The 1856 inflation rate was -2.30%. The inflation rate in 1857 was 2.35%. The 1857 inflation rate is higher compared to the average inflation rate of 2.11% per year between 1857 and 2018.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1857 was 8.7. It was 8.5 in the previous year, 1856. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.


Inflation from 1856 to 1857
Average inflation rate 2.35%
Converted amount ($1 base) $1.02
Price difference ($1 base) $0.02
CPI in 1856 8.500
CPI in 1857 8.700
Inflation in 1856 -2.30%
Inflation in 1857 2.35%


U.S. inflation chart since 1665


Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £1.00 in 1856 would be equivalent to £0.95 in 1857, an absolute change of £-0.05 and a cumulative change of -4.76%.

Compare these numbers to the US's overall absolute change of $0.02 and total percent change of 2.35%.


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 1856 and 1857.

Compare these values to the overall average of 2.35% per year:

Category Avg Inflation (%) Total Inflation (%) $1 in 1856 → 1857
Food 0.00 0.00 1.00
Shelter 0.00 0.00 1.00
Energy 0.00 0.00 1.00
Apparel 0.00 0.00 1.00
New vehicles 0.00 0.00 1.00
Used cars and trucks 0.00 0.00 1.00
Transportation services 0.00 0.00 1.00
Medical care services 0.00 0.00 1.00
Medical care commodities 0.00 0.00 1.00

It's important to note that not all categories may be tracked since 1856. This table and visualization use the earliest available data for each category.



How to Calculate Inflation Rate for $1, 1856 to 1857

This inflation calculator uses the following inflation rate formula:

CPI in 1857CPI in 1856
×
1856 USD value
=
1857 USD value

Then plug in historical CPI values. The U.S. CPI was 8.5 in the year 1856 and 8.7 in 1857:

8.78.5
×
$1
=
$1.02

$1 in 1856 has the same "purchasing power" or "buying power" as $1.02 in 1857.

To get the total inflation rate for the 1 years between 1856 and 1857, we use the following formula:

CPI in 1857 - CPI in 1856CPI in 1856
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

8.7 - 8.58.5
×
100
=
2%

News headlines from 1856

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

  • First piece of legislation providing for elections by a secret ballot, the Electoral Act, is passed by the colonial Tasmanian Parliament
  • The Crimean War ends after Russia signs a Peace treaty in Paris.
  • Opening of the first National Convention of the Republican Party in Philadelphia.
  • The Second Opium War, is triggered by the Arrow Incident on the Pearl River.

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 1857 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 10 Dec. 2018, https://www.officialdata.org/inflation-rate-in-1857.

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


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