U.S. inflation rate in 1688: -7.89%

Inflation in 1688 and its effect on dollar value

$1 in 1687 is equivalent in purchasing power to about $0.92 in 1688. The dollar had an average deflation rate of -7.89% per year since 1687, producing a cumulative price change of -7.89%. Purchasing power increased by 7.89% in 1688 compared to 1687. On average, you would have to spend 7.89% less money in 1688 than in 1687 for the same item. This is an example of deflation.

This means that prices in 1688 are 7.89% lower than average prices since 1687, according to the Bureau of Labor Statistics consumer price index.

The 1687 inflation rate was 0.00%. The inflation rate in 1688 was -7.89%. The 1688 inflation rate is lower compared to the average inflation rate of 1.32% per year between 1688 and 2021.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1688 was 3.50. It was 3.80 in the previous year, 1687. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation. Because the 1688 CPI is less than 1687 CPI, negative inflation (also known as deflation) has occurred.


Inflation from 1687 to 1688
Average inflation rate -7.89%
Converted amount ($1 base) $0.92
Price difference ($1 base) $-0.08
CPI in 1687 3.800
CPI in 1688 3.500
Inflation in 1687 0.00%
Inflation in 1688 -7.89%
$1 in 1687 $0.92 in 1688

USD Inflation since 1635
Annual Rate, the Bureau of Labor Statistics CPI
Download

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 1687 and 1688.

Compare these values to the overall average of -7.89% per year:

Category Avg Inflation (%) Total Inflation (%) $1 in 1687 → 1688
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 1687. This table and charts use the earliest available data for each category.



How to Calculate Inflation Rate for $1, 1687 to 1688

Our calculations use the following inflation rate formula to calculate the change in value between 1687 and 1688:

CPI in 1688 CPI in 1687
×
1687 USD value
=
1688 USD value

Then plug in historical CPI values. The U.S. CPI was 3.8 in the year 1687 and 3.5 in 1688:

3.53.8
×
$1
=
$0.92

$1 in 1687 has the same "purchasing power" or "buying power" as $0.92 in 1688.

To get the total inflation rate for the 1 years between 1687 and 1688, we use the following formula:

CPI in 1688 - CPI in 1687CPI in 1687
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

3.5 - 3.83.8
×
100
=
-8%

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 1688 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Jul. 2021, https://www.officialdata.org/inflation-rate-in-1688.

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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Inflation from 1687 to 1688
Average inflation rate -7.89%
Converted amount ($1 base) $0.92
Price difference ($1 base) $-0.08
CPI in 1687 3.800
CPI in 1688 3.500
Inflation in 1687 0.00%
Inflation in 1688 -7.89%
$1 in 1687 $0.92 in 1688