Value of $1 from 1770 to 1771
$1 in 1770 is equivalent in purchasing power to about $0.95 in 1771. The dollar had an average deflation rate of -4.88% per year since 1770, producing a cumulative price change of -4.88%.
This means that prices in 1771 are 4.88% lower than average prices since 1770, according to the Bureau of Labor Statistics consumer price index.
The inflation rate in 1770 was 7.89%. The inflation rate in 1771 was -4.88%. The 1771 inflation rate is lower compared to the average inflation rate of 1.47% per year between 1771 and 2024.
Contents
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| Average inflation rate | -4.88% |
| Converted amount $1 base | $0.95 |
| Price difference $1 base | $-0.05 |
| CPI in 1770 | 8.200 |
| CPI in 1771 | 7.800 |
| Inflation in 1770 | 7.89% |
| Inflation in 1771 | -4.88% |
| $1 in 1770 | $0.95 in 1771 |
Inflation by Country
Inflation can also vary widely by country. For comparison, in the UK £1.00 in 1770 would be equivalent to £1.08 in 1771, an absolute change of £0.08 and a cumulative change of 8.06%.
Compare these numbers to the US's overall absolute change of $-0.05 and total percent change of -4.88%.
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 1770 and 1771.
Compare these values to the overall average of -4.88% per year:
| Category | Avg Inflation (%) | Total Inflation (%) | $1 in 1770 → 1771 |
|---|---|---|---|
| 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 1770. This table and charts use the earliest available data for each category.
How to calculate inflation rate for $1, 1770 to 1771
Our calculations use the following inflation rate formula to calculate the change in value between 1770 and 1771:
CPI in 1771 CPI in 1770
×
1770 USD value
=
1771 USD value
Then plug in historical CPI values. The U.S. CPI was 8.2 in the year 1770 and 7.8 in 1771:
7.88.2
×
$1
=
$0.95
$1 in 1770 has the same "purchasing power" or "buying power" as $0.95 in 1771.
To get the total inflation rate for the 1 years between 1770 and 1771, we use the following formula:
CPI in 1771 - CPI in 1770CPI in 1770
×
100
=
Cumulative inflation rate (1 years)
Plugging in the values to this equation, we get:
7.8 - 8.28.2
×
100
=
-5%
Data source & citation
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (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: “$1 in 1770 → 1771 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 Apr. 2024, https://www.officialdata.org/us/inflation/1770?amount=1&endYear=1771.
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.
| Average inflation rate | -4.88% |
| Converted amount $1 base | $0.95 |
| Price difference $1 base | $-0.05 |
| CPI in 1770 | 8.200 |
| CPI in 1771 | 7.800 |
| Inflation in 1770 | 7.89% |
| Inflation in 1771 | -4.88% |
| $1 in 1770 | $0.95 in 1771 |