According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 2.45% per year. Prices in 2017 are 2345.0% higher than prices in 1885.
In other words, $12 in the year 1885 is equivalent in purchasing power to $293.40 in 2017, a difference of $281.40 over 132 years.
The inflation rate in 2017 was 1.99%.
|Cumulative price change||2345.00%|
|Average inflation rate||2.45%|
|Price difference ($12 base)||$281.40|
|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: “$12 in 1885 → 2017 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 May. 2018, https://www.officialdata.org/1885-dollars-in-2017?amount=12.