U.S. inflation rate in 1776: 12.99%

Inflation in 1776 and its effect on dollar value

$1 in 1775 is equivalent in purchasing power to about $1.13 in 1776. The dollar had an average inflation rate of 12.99% per year between 1775 and 1776, producing a cumulative price increase of 12.99%. Purchasing power decreased by 12.99% in 1776 compared to 1775. On average, you would have to spend 12.99% more money in 1776 than in 1775 for the same item.

This means that prices in 1776 are 1.13 times as high as average prices since 1775, according to the Bureau of Labor Statistics consumer price index.

The inflation rate in 1775 was -4.94%. The inflation rate in 1776 was 12.99%. The 1776 inflation rate is higher compared to the average inflation rate of 1.45% per year between 1776 and 2024.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1776 was 8.70. It was 7.70 in the previous year, 1775. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.


Inflation from 1775 to 1776
Average inflation rate12.99%
Converted amount
$1 base
$1.13
Price difference
$1 base
$0.13
CPI in 17757.700
CPI in 17768.700
Inflation in 1775-4.94%
Inflation in 177612.99%
$1 in 1775$1.13 in 1776

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

Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £1.00 in 1775 would be equivalent to £0.99 in 1776, an absolute change of £-0.01 and a cumulative change of -1.43%.

Compare these numbers to the US's overall absolute change of $0.13 and total percent change of 12.99%.


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 1775 and 1776.

Compare these values to the overall average of 12.99% per year:

CategoryAvg Inflation (%)Total Inflation (%)$1 in 1775 → 1776
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 1775. This table and charts use the earliest available data for each category.



How to calculate inflation rate for $1, 1775 to 1776

Our calculations use the following inflation rate formula to calculate the change in value between 1775 and 1776:

CPI in 1776 CPI in 1775
×
1775 USD value
=
1776 USD value

Then plug in historical CPI values. The U.S. CPI was 7.7 in the year 1775 and 8.7 in 1776:

8.77.7
×
$1
=
$1.13

$1 in 1775 has the same "purchasing power" or "buying power" as $1.13 in 1776.

To get the total inflation rate for the 1 years between 1775 and 1776, we use the following formula:

CPI in 1776 - CPI in 1775CPI in 1775
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

8.7 - 7.77.7
×
100
=
13%

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 1776 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 28 Mar. 2024, https://www.officialdata.org/inflation-rate-in-1776.

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 1775 to 1776
Average inflation rate12.99%
Converted amount
$1 base
$1.13
Price difference
$1 base
$0.13
CPI in 17757.700
CPI in 17768.700
Inflation in 1775-4.94%
Inflation in 177612.99%
$1 in 1775$1.13 in 1776