# U.S. inflation rate in 1694: 5.88%

\$

## Inflation in 1694 and its effect on dollar value

\$1 in 1693 is equivalent in purchasing power to about \$1.06 in 1694. The dollar had an average inflation rate of 5.88% per year between 1693 and 1694, producing a cumulative price increase of 5.88%. Purchasing power decreased by 5.88% in 1694 compared to 1693. On average, you would have to spend 5.88% more money in 1694 than in 1693 for the same item.

This means that prices in 1694 are 1.06 times as high as average prices since 1693, according to the Bureau of Labor Statistics consumer price index.

The inflation rate in 1693 was -5.56%. The inflation rate in 1694 was 5.88%. The 1694 inflation rate is higher compared to the average inflation rate of 1.36% per year between 1694 and 2024.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1694 was 3.60. It was 3.40 in the previous year, 1693. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.

 Average inflation rate 5.88% Converted amount\$1 base \$1.06 Price difference\$1 base \$0.06 CPI in 1693 3.400 CPI in 1694 3.600 Inflation in 1693 -5.56% Inflation in 1694 5.88% \$1 in 1693 \$1.06 in 1694

Recent USD inflation
Annual Rate, the Bureau of Labor Statistics CPI

## 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 1693 and 1694.

Compare these values to the overall average of 5.88% per year:

CategoryAvg Inflation (%)Total Inflation (%)\$1 in 1693 → 1694
Food and beverages0.000.001.00
Housing0.000.001.00
Apparel0.000.001.00
Transportation0.000.001.00
Medical care0.000.001.00
Recreation0.000.001.00
Education and communication0.000.001.00
Other goods and services0.000.001.00

For all these visualizations, it's important to note that not all categories may have been tracked since 1693. This table and charts use the earliest available data for each category.

## How to calculate inflation rate for \$1, 1693 to 1694

Our calculations use the following inflation rate formula to calculate the change in value between 1693 and 1694:

CPI in 1694 CPI in 1693
×
1693 USD value
=
1694 USD value

Then plug in historical CPI values. The U.S. CPI was 3.4 in the year 1693 and 3.6 in 1694:

3.63.4
×
\$1
=
\$1.06

\$1 in 1693 has the same "purchasing power" or "buying power" as \$1.06 in 1694.

To get the total inflation rate for the 1 years between 1693 and 1694, we use the following formula:

CPI in 1694 - CPI in 1693CPI in 1693
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

3.6 - 3.43.4
×
100
=
6%

## Data source & citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (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 1694 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 9 Sep. 2024, https://www.officialdata.org/inflation-rate-in-1694.

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.