$7,200,000 in 1867 is worth $122,220,000.00 in 2018

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Value of $7,200,000 from 1867 to 2018

According to the Bureau of Labor Statistics consumer price index, prices in 2018 are 1,597.50% higher than average prices since 1867. The U.S. dollar experienced an average inflation rate of 1.89% per year during this period, causing the real value of a dollar to decrease.

In other words, $7,200,000 in 1867 is equivalent in purchasing power to about $122,220,000.00 in 2018, a difference of $115,020,000.00 over 151 years.

The 1867 inflation rate was -6.92%. The inflation rate in 2018 was 2.49%. The 2018 inflation rate is higher compared to the average inflation rate of 1.71% per year between 2018 and 2020.


Inflation from 1867 to 2018
Cumulative price change 1,597.50%
Average inflation rate 1.89%
Converted amount ($7,200,000 base) $122,220,000.00
Price difference ($7,200,000 base) $115,020,000.00
CPI in 1867 14.800
CPI in 2018 251.230
Inflation in 1867 -6.92%
Inflation in 2018 2.49%

USD Inflation since 1635
Annual Rate, the Bureau of Labor Statistics CPI
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Buying power of $7,200,000 in 1867

This chart shows a calculation of buying power equivalence for $7,200,000 in 1867 (price index tracking began in 1635).

For example, if you started with $7,200,000, you would need to end with $122,220,000.00 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $7,200,000 is equivalent to $122,220,000.00 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1867 dollars, the chart below shows how $7,200,000 is worth less over 151 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1867-2018
Year Dollar Value Inflation Rate
1867 $7,200,000.00 -6.92%
1868 $6,908,108.11 -4.05%
1869 $6,616,216.22 -4.23%
1870 $6,372,972.97 -3.68%
1871 $5,935,135.14 -6.87%
1872 $5,935,135.14 0.00%
1873 $5,837,837.84 -1.64%
1874 $5,545,945.95 -5.00%
1875 $5,351,351.35 -3.51%
1876 $5,205,405.41 -2.73%
1877 $5,108,108.11 -1.87%
1878 $4,864,864.86 -4.76%
1879 $4,864,864.86 0.00%
1880 $4,962,162.16 2.00%
1881 $4,962,162.16 0.00%
1882 $4,962,162.16 0.00%
1883 $4,913,513.51 -0.98%
1884 $4,767,567.57 -2.97%
1885 $4,718,918.92 -1.02%
1886 $4,572,972.97 -3.09%
1887 $4,621,621.62 1.06%
1888 $4,621,621.62 0.00%
1889 $4,475,675.68 -3.16%
1890 $4,427,027.03 -1.09%
1891 $4,427,027.03 0.00%
1892 $4,427,027.03 0.00%
1893 $4,378,378.38 -1.10%
1894 $4,183,783.78 -4.44%
1895 $4,086,486.49 -2.33%
1896 $4,086,486.49 0.00%
1897 $4,037,837.84 -1.19%
1898 $4,037,837.84 0.00%
1899 $4,037,837.84 0.00%
1900 $4,086,486.49 1.20%
1901 $4,135,135.14 1.19%
1902 $4,183,783.78 1.18%
1903 $4,281,081.08 2.33%
1904 $4,329,729.73 1.14%
1905 $4,281,081.08 -1.12%
1906 $4,378,378.38 2.27%
1907 $4,572,972.97 4.44%
1908 $4,475,675.68 -2.13%
1909 $4,427,027.03 -1.09%
1910 $4,621,621.62 4.40%
1911 $4,621,621.62 0.00%
1912 $4,718,918.92 2.11%
1913 $4,816,216.22 2.06%
1914 $4,864,864.86 1.01%
1915 $4,913,513.51 1.00%
1916 $5,302,702.70 7.92%
1917 $6,227,027.03 17.43%
1918 $7,345,945.95 17.97%
1919 $8,416,216.22 14.57%
1920 $9,729,729.73 15.61%
1921 $8,708,108.11 -10.50%
1922 $8,172,972.97 -6.15%
1923 $8,318,918.92 1.79%
1924 $8,318,918.92 0.00%
1925 $8,513,513.51 2.34%
1926 $8,610,810.81 1.14%
1927 $8,464,864.86 -1.69%
1928 $8,318,918.92 -1.72%
1929 $8,318,918.92 0.00%
1930 $8,124,324.32 -2.34%
1931 $7,394,594.59 -8.98%
1932 $6,664,864.86 -9.87%
1933 $6,324,324.32 -5.11%
1934 $6,518,918.92 3.08%
1935 $6,664,864.86 2.24%
1936 $6,762,162.16 1.46%
1937 $7,005,405.41 3.60%
1938 $6,859,459.46 -2.08%
1939 $6,762,162.16 -1.42%
1940 $6,810,810.81 0.72%
1941 $7,151,351.35 5.00%
1942 $7,929,729.73 10.88%
1943 $8,416,216.22 6.13%
1944 $8,562,162.16 1.73%
1945 $8,756,756.76 2.27%
1946 $9,486,486.49 8.33%
1947 $10,848,648.65 14.36%
1948 $11,724,324.32 8.07%
1949 $11,578,378.38 -1.24%
1950 $11,724,324.32 1.26%
1951 $12,648,648.65 7.88%
1952 $12,891,891.89 1.92%
1953 $12,989,189.19 0.75%
1954 $13,086,486.49 0.75%
1955 $13,037,837.84 -0.37%
1956 $13,232,432.43 1.49%
1957 $13,670,270.27 3.31%
1958 $14,059,459.46 2.85%
1959 $14,156,756.76 0.69%
1960 $14,400,000.00 1.72%
1961 $14,545,945.95 1.01%
1962 $14,691,891.89 1.00%
1963 $14,886,486.49 1.32%
1964 $15,081,081.08 1.31%
1965 $15,324,324.32 1.61%
1966 $15,762,162.16 2.86%
1967 $16,248,648.65 3.09%
1968 $16,929,729.73 4.19%
1969 $17,854,054.05 5.46%
1970 $18,875,675.68 5.72%
1971 $19,702,702.70 4.38%
1972 $20,335,135.14 3.21%
1973 $21,600,000.00 6.22%
1974 $23,983,783.78 11.04%
1975 $26,172,972.97 9.13%
1976 $27,681,081.08 5.76%
1977 $29,481,081.08 6.50%
1978 $31,718,918.92 7.59%
1979 $35,318,918.92 11.35%
1980 $40,086,486.49 13.50%
1981 $44,221,621.62 10.32%
1982 $46,945,945.95 6.16%
1983 $48,454,054.05 3.21%
1984 $50,545,945.95 4.32%
1985 $52,345,945.95 3.56%
1986 $53,318,918.92 1.86%
1987 $55,264,864.86 3.65%
1988 $57,551,351.35 4.14%
1989 $60,324,324.32 4.82%
1990 $63,583,783.78 5.40%
1991 $66,259,459.46 4.21%
1992 $68,254,054.05 3.01%
1993 $70,297,297.30 2.99%
1994 $72,097,297.30 2.56%
1995 $74,140,540.54 2.83%
1996 $76,329,729.73 2.95%
1997 $78,081,081.08 2.29%
1998 $79,297,297.30 1.56%
1999 $81,048,648.65 2.21%
2000 $83,772,972.97 3.36%
2001 $86,156,756.76 2.85%
2002 $87,518,918.92 1.58%
2003 $89,513,513.51 2.28%
2004 $91,897,297.30 2.66%
2005 $95,010,810.81 3.39%
2006 $98,075,675.68 3.23%
2007 $100,869,081.08 2.85%
2008 $104,742,000.00 3.84%
2009 $104,369,351.35 -0.36%
2010 $106,081,297.30 1.64%
2011 $109,429,783.78 3.16%
2012 $111,694,378.38 2.07%
2013 $113,330,432.43 1.46%
2014 $115,168,864.86 1.62%
2015 $115,305,567.57 0.12%
2016 $116,760,162.16 1.26%
2017 $119,247,567.57 2.13%
2018 $122,220,000.00 2.49%
2019 $124,373,918.92 1.76%
2020 $126,446,594.59 1.67%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
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This conversion table shows various other 1867 amounts in 2018 dollars, based on the 1,597.50% change in prices:

Conversion Table: Value of a dollar in 2018
Initial value Equivalent value
$1 dollar in 1867 $16.97 dollars in 2018
$5 dollars in 1867 $84.87 dollars in 2018
$10 dollars in 1867 $169.75 dollars in 2018
$50 dollars in 1867 $848.75 dollars in 2018
$100 dollars in 1867 $1,697.50 dollars in 2018
$500 dollars in 1867 $8,487.50 dollars in 2018
$1,000 dollars in 1867 $16,975.00 dollars in 2018
$5,000 dollars in 1867 $84,875.00 dollars in 2018
$10,000 dollars in 1867 $169,750.00 dollars in 2018
$50,000 dollars in 1867 $848,750.00 dollars in 2018
$100,000 dollars in 1867 $1,697,500.00 dollars in 2018
$500,000 dollars in 1867 $8,487,500.00 dollars in 2018
$1,000,000 dollars in 1867 $16,975,000.00 dollars in 2018

Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £7,200,000.00 in 1867 would be equivalent to £785,294,269.31 in 2018, an absolute change of £778,094,269.31 and a cumulative change of 10,806.86%.

Compare these numbers to the US's overall absolute change of $115,020,000.00 and total percent change of 1,597.50%.


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 1867 and 2018.

Compare these values to the overall average of 1.89% per year:

Category Avg Inflation (%) Total Inflation (%) $7,200,000 in 1867 → 2018
Food and beverages 3.96 35,020.90 2,528,704,564.11
Housing 4.26 54,319.13 3,918,177,277.14
Apparel 2.05 2,046.17 154,524,123.67
Transportation 3.30 13,418.27 973,315,518.65
Medical care 5.17 201,539.74 14,518,061,490.58
Recreation 1.09 413.08 36,941,844.55
Education and communication 1.89 1,600.30 122,421,542.72
Other goods and services 5.10 181,588.59 13,081,578,438.77

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1867. This table and charts use the earliest available data for each category.



How to Calculate Inflation Rate for $7,200,000, 1867 to 2018

Our calculations use the following inflation rate formula to calculate the change in value between 1867 and 2018:

CPI in 2018 CPI in 1867
×
1867 USD value
=
2018 USD value

Then plug in historical CPI values. The U.S. CPI was 14.8 in the year 1867 and 251.23 in 2018:

251.2314.8
×
$7,200,000
=
$122,220,000.00

$7,200,000 in 1867 has the same "purchasing power" or "buying power" as $122,220,000.00 in 2018.

To get the total inflation rate for the 151 years between 1867 and 2018, we use the following formula:

CPI in 2018 - CPI in 1867CPI in 1867
×
100
=
Cumulative inflation rate (151 years)

Plugging in the values to this equation, we get:

251.23 - 14.814.8
×
100
=
1,597%

News headlines from 1867

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

  • The House of Commons passes the British North America Act, which later serves as Canada's constitution.
  • Joseph Lister, publishes an article in The Lancet, outlining the discovery of antiseptic surgery.
  • Russia sells Alaska to the United States for total of $7,200,000, or 2 cents/acre.
  • Karl Marx Publishes ‘Das Kapital’.

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: “$7,200,000 in 1867 → 2018 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 27 Sep. 2020, https://www.officialdata.org/1867-dollars-in-2018?amount=7200000.

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.


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1867 to 2018
Cumulative price change 1,597.50%
Average inflation rate 1.89%
Converted amount ($7,200,000 base) $122,220,000.00
Price difference ($7,200,000 base) $115,020,000.00
CPI in 1867 14.800
CPI in 2018 251.230
Inflation in 1867 -6.92%
Inflation in 2018 2.49%