U.S. inflation rate in 1722: 2.50%

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U.S. inflation rate in 1722: 2.50%

Inflation in 1722 and Its Effect on Dollar Value

Purchasing power decreased by 2.50% in 1722 compared to 1721. On average, you would have to spend 2.50% more money in 1722 than in 1721 for the same item.

In other words, $1 in 1721 is equivalent in purchasing power to about $1.02 in 1722.

The 1721 inflation rate was -4.76%. The inflation rate in 1722 was 2.50%. The 1722 inflation rate is higher compared to the average inflation rate of 1.40% per year between 1722 and 2019.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1722 was 4.10. It was 4.00 in the previous year, 1721. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.


Inflation from 1721 to 1722
Average inflation rate 2.50%
Converted amount ($1 base) $1.02
Price difference ($1 base) $0.02
CPI in 1721 4.000
CPI in 1722 4.100
Inflation in 1721 -4.76%
Inflation in 1722 2.50%

U.S. inflation chart since 1665


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 1721 and 1722.

Compare these values to the overall average of 2.50% per year:

Category Avg Inflation (%) Total Inflation (%) $1 in 1721 → 1722
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 1721. This table and charts use the earliest available data for each category.



How to Calculate Inflation Rate for $1, 1721 to 1722

This inflation calculator uses the following inflation rate formula:

CPI in 1722CPI in 1721
×
1721 USD value
=
1722 USD value

Then plug in historical CPI values. The U.S. CPI was 4 in the year 1721 and 4.1 in 1722:

4.14
×
$1
=
$1.02

$1 in 1721 has the same "purchasing power" or "buying power" as $1.02 in 1722.

To get the total inflation rate for the 1 years between 1721 and 1722, we use the following formula:

CPI in 1722 - CPI in 1721CPI in 1721
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

4.1 - 44
×
100
=
2%

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 1722 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 13 Dec. 2019, https://www.officialdata.org/inflation-rate-in-1722.

Special thanks to QuickChart for providing downloadable chart images.

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


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 1721 to 1722
Average inflation rate 2.50%
Converted amount ($1 base) $1.02
Price difference ($1 base) $0.02
CPI in 1721 4.000
CPI in 1722 4.100
Inflation in 1721 -4.76%
Inflation in 1722 2.50%