According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 1.99% per year. Prices in 2017 are 1699.8% higher than prices in 1870.
In other words, $681 in the year 1870 is equivalent in purchasing power to $12,256.58 in 2017, a difference of $11,575.58 over 147 years.
The inflation rate in 2017 was 1.99%.
|Cumulative price change||1699.79%|
|Average inflation rate||1.99%|
|Price difference ($681 base)||$11,575.58|
|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: “$681 in 1870 → 2017 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 25 May. 2018, https://www.officialdata.org/1870-dollars-in-2017?amount=681.