$1 in 1720 is worth $1.02 in 1724

Value of $1 from 1720 to 1724

According to the Bureau of Labor Statistics consumer price index, prices in 1724 are 2.38% higher than average prices since 1720. The U.S. dollar experienced an average inflation rate of 0.59% per year during this period, causing the real value of a dollar to decrease.

In other words, $1 in 1720 is equivalent in purchasing power to about $1.02 in 1724, a difference of $0.02 over 4 years.

The 1720 inflation rate was -6.67%. The inflation rate in 1724 was 2.38%. The 1724 inflation rate is higher compared to the average inflation rate of 1.39% per year between 1724 and 2020.


Inflation from 1720 to 1724
Cumulative price change 2.38%
Average inflation rate 0.59%
Converted amount ($1 base) $1.02
Price difference ($1 base) $0.02
CPI in 1720 4.200
CPI in 1724 4.300
Inflation in 1720 -6.67%
Inflation in 1724 2.38%

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

Buying power of $1 in 1720

This chart shows a calculation of buying power equivalence for $1 in 1720 (price index tracking began in 1635).

For example, if you started with $1, you would need to end with $1.02 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1.02 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1720 dollars, the chart below shows how $1 is worth less over 4 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1720-1724
Year Dollar Value Inflation Rate
1720 $1.00 -6.67%
1721 $0.95 -4.76%
1722 $0.98 2.50%
1723 $1.00 2.44%
1724 $1.02 2.38%
1725 $1.19 16.28%
1726 $1.12 -6.00%
1727 $1.19 6.38%
1728 $1.10 -8.00%
1729 $1.10 0.00%
1730 $1.10 0.00%
1731 $1.00 -8.70%
1732 $0.90 -9.52%
1733 $0.93 2.63%
1734 $0.90 -2.56%
1735 $0.95 5.26%
1736 $0.90 -5.00%
1737 $0.95 5.26%
1738 $0.98 2.50%
1739 $0.88 -9.76%
1740 $0.93 5.41%
1741 $1.55 66.67%
1742 $1.38 -10.77%
1743 $1.24 -10.34%
1744 $1.14 -7.69%
1745 $1.10 -4.17%
1746 $1.14 4.35%
1747 $1.26 10.42%
1748 $1.50 18.87%
1749 $1.52 1.59%
1750 $1.52 0.00%
1751 $1.52 0.00%
1752 $1.57 3.12%
1753 $1.52 -3.03%
1754 $1.45 -4.69%
1755 $1.43 -1.64%
1756 $1.38 -3.33%
1757 $1.48 6.90%
1758 $1.60 8.06%
1759 $1.88 17.91%
1760 $1.81 -3.80%
1761 $1.64 -9.21%
1762 $1.79 8.70%
1763 $1.79 0.00%
1764 $1.67 -6.67%
1765 $1.71 2.86%
1766 $1.83 6.94%
1767 $1.81 -1.30%
1768 $1.71 -5.26%
1769 $1.81 5.56%
1770 $1.95 7.89%
1771 $1.86 -4.88%
1772 $2.17 16.67%
1773 $2.05 -5.49%
1774 $1.93 -5.81%
1775 $1.83 -4.94%
1776 $2.07 12.99%
1777 $2.52 21.84%
1778 $3.29 30.19%
1779 $2.90 -11.59%
1780 $3.26 12.30%
1781 $2.64 -18.98%
1782 $2.88 9.01%
1783 $2.52 -12.40%
1784 $2.43 -3.77%
1785 $2.31 -4.90%
1786 $2.26 -2.06%
1787 $2.21 -2.11%
1788 $2.12 -4.30%
1789 $2.10 -1.12%
1790 $2.19 4.55%
1791 $2.24 2.17%
1792 $2.29 2.13%
1793 $2.36 3.13%
1794 $2.62 11.11%
1795 $3.00 14.55%
1796 $3.14 4.76%
1797 $3.02 -3.79%
1798 $2.93 -3.15%
1799 $2.93 0.00%
1800 $3.00 2.44%
1801 $3.02 0.79%
1802 $2.55 -15.75%
1803 $2.69 5.61%
1804 $2.81 4.42%
1805 $2.79 -0.85%
1806 $2.90 4.27%
1807 $2.76 -4.92%
1808 $3.00 8.62%
1809 $2.93 -2.38%
1810 $2.93 0.00%
1811 $3.12 6.50%
1812 $3.17 1.53%
1813 $3.81 20.30%
1814 $4.19 10.00%
1815 $3.67 -12.50%
1816 $3.36 -8.44%
1817 $3.17 -5.67%
1818 $3.02 -4.51%
1819 $3.02 0.00%
1820 $2.79 -7.87%
1821 $2.69 -3.42%
1822 $2.79 3.54%
1823 $2.50 -10.26%
1824 $2.31 -7.62%
1825 $2.36 2.06%
1826 $2.36 0.00%
1827 $2.38 1.01%
1828 $2.26 -5.00%
1829 $2.21 -2.11%
1830 $2.19 -1.08%
1831 $2.07 -5.43%
1832 $2.05 -1.15%
1833 $2.00 -2.33%
1834 $2.05 2.38%
1835 $2.10 2.33%
1836 $2.21 5.68%
1837 $2.29 3.23%
1838 $2.21 -3.12%
1839 $2.21 0.00%
1840 $2.07 -6.45%
1841 $2.07 0.00%
1842 $1.95 -5.75%
1843 $1.76 -9.76%
1844 $1.79 1.35%
1845 $1.81 1.33%
1846 $1.83 1.32%
1847 $1.95 6.49%
1848 $1.88 -3.66%
1849 $1.83 -2.53%
1850 $1.86 1.30%
1851 $1.83 -1.28%
1852 $1.83 0.00%
1853 $1.83 0.00%
1854 $2.00 9.09%
1855 $2.07 3.57%
1856 $2.02 -2.30%
1857 $2.07 2.35%
1858 $1.95 -5.75%
1859 $1.98 1.22%
1860 $1.98 0.00%
1861 $2.10 6.02%
1862 $2.40 14.77%
1863 $3.00 24.75%
1864 $3.74 24.60%
1865 $3.88 3.82%
1866 $3.79 -2.45%
1867 $3.52 -6.92%
1868 $3.38 -4.05%
1869 $3.24 -4.23%
1870 $3.12 -3.68%
1871 $2.90 -6.87%
1872 $2.90 0.00%
1873 $2.86 -1.64%
1874 $2.71 -5.00%
1875 $2.62 -3.51%
1876 $2.55 -2.73%
1877 $2.50 -1.87%
1878 $2.38 -4.76%
1879 $2.38 0.00%
1880 $2.43 2.00%
1881 $2.43 0.00%
1882 $2.43 0.00%
1883 $2.40 -0.98%
1884 $2.33 -2.97%
1885 $2.31 -1.02%
1886 $2.24 -3.09%
1887 $2.26 1.06%
1888 $2.26 0.00%
1889 $2.19 -3.16%
1890 $2.17 -1.09%
1891 $2.17 0.00%
1892 $2.17 0.00%
1893 $2.14 -1.10%
1894 $2.05 -4.44%
1895 $2.00 -2.33%
1896 $2.00 0.00%
1897 $1.98 -1.19%
1898 $1.98 0.00%
1899 $1.98 0.00%
1900 $2.00 1.20%
1901 $2.02 1.19%
1902 $2.05 1.18%
1903 $2.10 2.33%
1904 $2.12 1.14%
1905 $2.10 -1.12%
1906 $2.14 2.27%
1907 $2.24 4.44%
1908 $2.19 -2.13%
1909 $2.17 -1.09%
1910 $2.26 4.40%
1911 $2.26 0.00%
1912 $2.31 2.11%
1913 $2.36 2.06%
1914 $2.38 1.01%
1915 $2.40 1.00%
1916 $2.60 7.92%
1917 $3.05 17.43%
1918 $3.60 17.97%
1919 $4.12 14.57%
1920 $4.76 15.61%
1921 $4.26 -10.50%
1922 $4.00 -6.15%
1923 $4.07 1.79%
1924 $4.07 0.00%
1925 $4.17 2.34%
1926 $4.21 1.14%
1927 $4.14 -1.69%
1928 $4.07 -1.72%
1929 $4.07 0.00%
1930 $3.98 -2.34%
1931 $3.62 -8.98%
1932 $3.26 -9.87%
1933 $3.10 -5.11%
1934 $3.19 3.08%
1935 $3.26 2.24%
1936 $3.31 1.46%
1937 $3.43 3.60%
1938 $3.36 -2.08%
1939 $3.31 -1.42%
1940 $3.33 0.72%
1941 $3.50 5.00%
1942 $3.88 10.88%
1943 $4.12 6.13%
1944 $4.19 1.73%
1945 $4.29 2.27%
1946 $4.64 8.33%
1947 $5.31 14.36%
1948 $5.74 8.07%
1949 $5.67 -1.24%
1950 $5.74 1.26%
1951 $6.19 7.88%
1952 $6.31 1.92%
1953 $6.36 0.75%
1954 $6.40 0.75%
1955 $6.38 -0.37%
1956 $6.48 1.49%
1957 $6.69 3.31%
1958 $6.88 2.85%
1959 $6.93 0.69%
1960 $7.05 1.72%
1961 $7.12 1.01%
1962 $7.19 1.00%
1963 $7.29 1.32%
1964 $7.38 1.31%
1965 $7.50 1.61%
1966 $7.71 2.86%
1967 $7.95 3.09%
1968 $8.29 4.19%
1969 $8.74 5.46%
1970 $9.24 5.72%
1971 $9.64 4.38%
1972 $9.95 3.21%
1973 $10.57 6.22%
1974 $11.74 11.04%
1975 $12.81 9.13%
1976 $13.55 5.76%
1977 $14.43 6.50%
1978 $15.52 7.59%
1979 $17.29 11.35%
1980 $19.62 13.50%
1981 $21.64 10.32%
1982 $22.98 6.16%
1983 $23.71 3.21%
1984 $24.74 4.32%
1985 $25.62 3.56%
1986 $26.10 1.86%
1987 $27.05 3.65%
1988 $28.17 4.14%
1989 $29.52 4.82%
1990 $31.12 5.40%
1991 $32.43 4.21%
1992 $33.40 3.01%
1993 $34.40 2.99%
1994 $35.29 2.56%
1995 $36.29 2.83%
1996 $37.36 2.95%
1997 $38.21 2.29%
1998 $38.81 1.56%
1999 $39.67 2.21%
2000 $41.00 3.36%
2001 $42.17 2.85%
2002 $42.83 1.58%
2003 $43.81 2.28%
2004 $44.98 2.66%
2005 $46.50 3.39%
2006 $48.00 3.23%
2007 $49.37 2.85%
2008 $51.26 3.84%
2009 $51.08 -0.36%
2010 $51.92 1.64%
2011 $53.56 3.16%
2012 $54.67 2.07%
2013 $55.47 1.46%
2014 $56.37 1.62%
2015 $56.43 0.12%
2016 $57.14 1.26%
2017 $58.36 2.13%
2018 $59.82 2.49%
2019 $60.87 1.76%
2020 $61.05 0.29%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.

This conversion table shows various other 1720 amounts in 1724 dollars, based on the 2.38% change in prices:

Conversion Table: Value of a dollar in 1724
Initial value Equivalent value
$1 dollar in 1720 $1.02 dollars in 1724
$5 dollars in 1720 $5.12 dollars in 1724
$10 dollars in 1720 $10.24 dollars in 1724
$50 dollars in 1720 $51.19 dollars in 1724
$100 dollars in 1720 $102.38 dollars in 1724
$500 dollars in 1720 $511.90 dollars in 1724
$1,000 dollars in 1720 $1,023.81 dollars in 1724
$5,000 dollars in 1720 $5,119.05 dollars in 1724
$10,000 dollars in 1720 $10,238.10 dollars in 1724
$50,000 dollars in 1720 $51,190.48 dollars in 1724
$100,000 dollars in 1720 $102,380.95 dollars in 1724
$500,000 dollars in 1720 $511,904.76 dollars in 1724
$1,000,000 dollars in 1720 $1,023,809.52 dollars in 1724

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 1720 and 1724.

Compare these values to the overall average of 0.59% per year:

Category Avg Inflation (%) Total Inflation (%) $1 in 1720 → 1724
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

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1720. This table and charts use the earliest available data for each category.



How to Calculate Inflation Rate for $1, 1720 to 1724

Our calculations use the following inflation rate formula to calculate the change in value between 1720 and 1724:

CPI in 1724 CPI in 1720
×
1720 USD value
=
1724 USD value

Then plug in historical CPI values. The U.S. CPI was 4.2 in the year 1720 and 4.3 in 1724:

4.34.2
×
$1
=
$1.02

$1 in 1720 has the same "purchasing power" or "buying power" as $1.02 in 1724.

To get the total inflation rate for the 4 years between 1720 and 1724, we use the following formula:

CPI in 1724 - CPI in 1720CPI in 1720
×
100
=
Cumulative inflation rate (4 years)

Plugging in the values to this equation, we get:

4.3 - 4.24.2
×
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: “$1 in 1720 → 1724 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 1 Jun. 2020, https://www.officialdata.org/us/inflation/1720?amount=1&endYear=1724.

Special thanks to QuickChart for providing downloadable chart images.

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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» Read more about inflation and investment.

Inflation from 1720 to 1724
Cumulative price change 2.38%
Average inflation rate 0.59%
Converted amount ($1 base) $1.02
Price difference ($1 base) $0.02
CPI in 1720 4.200
CPI in 1724 4.300
Inflation in 1720 -6.67%
Inflation in 1724 2.38%