According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 1.42% per year. Prices in 2017 are 2440.9% higher than prices in 1787.
In other words, $30 in 1787 is equivalent in purchasing power to $762.26 in 2017, a difference of $732.26 over 230 years.
The inflation rate in 2017 was 1.99%.
|Cumulative price change||2440.87%|
|Average inflation rate||1.42%|
|Converted amount ($30 base)||$762.26|
|Price difference ($30 base)||$732.26|
|CPI in 2017||244.786|
Politics and news often influence economic performance. Here's what was happening at the time:
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (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: “$30 in 1787 → 2017 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 15 Jun. 2018, https://www.officialdata.org/1787-dollars-in-2017?amount=30.