# U.S. inflation rate in 1703: 0.00%

\$

## Inflation in 1703 and its effect on dollar value

Purchasing power decreased by 0.00% in 1703 compared to 1702. On average, you would have to spend 0.00% more money in 1703 than in 1702 for the same item.

In other words, \$1 in 1702 is equivalent in purchasing power to about \$1 in 1703.

The 1702 inflation rate was -9.30%. The inflation rate in 1703 was 0.00%. The 1703 inflation rate is lower compared to the average inflation rate of 1.33% per year between 1703 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1703 was 3.90. It was 3.90 in the previous year, 1702. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.

 Average inflation rate 0.00% Converted amount (\$1 base) \$1 Price difference (\$1 base) \$0.00 CPI in 1702 3.900 CPI in 1703 3.900 Inflation in 1702 -9.30% Inflation in 1703 0.00%

USD Inflation since 1635
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 1702 and 1703.

Compare these values to the overall average of 0.00% per year:

Category Avg Inflation (%) Total Inflation (%) \$1 in 1702 → 1703
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 1702. This table and charts use the earliest available data for each category.

## How to Calculate Inflation Rate for \$1, 1702 to 1703

Our calculations use the following inflation rate formula to calculate the change in value between 1702 and 1703:

CPI in 1703 CPI in 1702
×
1702 USD value
=
1703 USD value

Then plug in historical CPI values. The U.S. CPI was 3.9 in the year 1702 and 3.9 in 1703:

3.93.9
×
\$1
=
\$1

\$1 in 1702 has the same "purchasing power" or "buying power" as \$1 in 1703.

To get the total inflation rate for the 1 years between 1702 and 1703, we use the following formula:

CPI in 1703 - CPI in 1702CPI in 1702
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

3.9 - 3.93.9
×
100
=
0%

## 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 1703 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 6 Jun. 2020, https://www.officialdata.org/inflation-rate-in-1703.