# U.S. inflation rate in 1778: 30.19%

## Inflation Calculator

\$

### Inflation in 1778 and Its Effect on Dollar Value

Purchasing power decreased by 30.19% in 1778 compared to 1777. On average, you would have to spend 30.19% more money in 1778 than in 1777 for the same item.

In other words, \$1 in 1777 is equivalent in purchasing power to about \$1.30 in 1778.

The 1777 inflation rate was 21.84%. The inflation rate in 1778 was 30.19%. The 1778 inflation rate is higher compared to the average inflation rate of 1.22% per year between 1778 and 2020.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 1778 was 13.80. It was 10.60 in the previous year, 1777. The difference in CPI between the years is used by the Bureau of Labor Statistics to officially determine inflation.

 Average inflation rate 30.19% Converted amount (\$1 base) \$1.30 Price difference (\$1 base) \$0.30 CPI in 1777 10.600 CPI in 1778 13.800 Inflation in 1777 21.84% Inflation in 1778 30.19%

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

### Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £1.00 in 1777 would be equivalent to £1.03 in 1778, an absolute change of £0.03 and a cumulative change of 2.90%.

Compare these numbers to the US's overall absolute change of \$0.30 and total percent change of 30.19%.

### 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 1777 and 1778.

Compare these values to the overall average of 30.19% per year:

Category Avg Inflation (%) Total Inflation (%) \$1 in 1777 → 1778
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 1777. This table and charts use the earliest available data for each category.

### How to Calculate Inflation Rate for \$1, 1777 to 1778

This inflation calculator uses the following inflation rate formula:

CPI in 1778CPI in 1777
×
1777 USD value
=
1778 USD value

Then plug in historical CPI values. The U.S. CPI was 10.6 in the year 1777 and 13.8 in 1778:

13.810.6
×
\$1
=
\$1.30

\$1 in 1777 has the same "purchasing power" or "buying power" as \$1.30 in 1778.

To get the total inflation rate for the 1 years between 1777 and 1778, we use the following formula:

CPI in 1778 - CPI in 1777CPI in 1777
×
100
=
Cumulative inflation rate (1 years)

Plugging in the values to this equation, we get:

13.8 - 10.610.6
×
100
=
30%

Politics and news often influence economic performance. Here's what was happening at the time:

• George Washington's army defeats the British army at the Battle of Princeton.
• The US becomes the first nation to abolish slavery, when it introduces its new Constitution
• The US flag is used for the first time, in the battle at Cooch's Bridge, during American Revolutionary war
• British colonies in America proclaimed independent from France

### 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 1778 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 6 Apr. 2020, https://www.officialdata.org/inflation-rate-in-1778.

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

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.

 Average inflation rate 30.19% Converted amount (\$1 base) \$1.30 Price difference (\$1 base) \$0.30 CPI in 1777 10.600 CPI in 1778 13.800 Inflation in 1777 21.84% Inflation in 1778 30.19%