Value of $1 from 1700 to 2020
According to the Bureau of Labor Statistics consumer price index, today's prices in 2020 are 6,250.93% higher than average prices since 1700. The U.S. dollar experienced an average inflation rate of 1.31% per year during this period, causing the real value of a dollar to decrease.
In other words, $1 in 1700 is equivalent in purchasing power to about $63.51 in 2020, a difference of $62.51 over 320 years.
The 1700 inflation rate was -2.38%. The current year-over-year inflation rate (2019 to 2020) is now 1.18%1. If this number holds, $1 today will be equivalent in buying power to $1.01 next year. The current inflation rate page gives more detail on the latest official inflation rates.
Contents
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| Cumulative price change | 6,250.93% |
| Average inflation rate | 1.31% |
| Converted amount ($1 base) | $63.51 |
| Price difference ($1 base) | $62.51 |
| CPI in 1700 | 4.100 |
| CPI in 2020 | 260.388 |
| Inflation in 1700 | -2.38% |
| Inflation in 2020 | 1.18% |
Buying power of $1 in 1700
This chart shows a calculation of buying power equivalence for $1 in 1700 (price index tracking began in 1635).
For example, if you started with $1, you would need to end with $63.51 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When $1 is equivalent to $63.51 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 1700 dollars, the chart below shows how $1 is worth less over 320 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:
This conversion table shows various other 1700 amounts in today's dollars, based on the 6,250.93% change in prices:
| Initial value | Equivalent value |
|---|---|
| $1 dollar in 1700 | $63.51 dollars today |
| $5 dollars in 1700 | $317.55 dollars today |
| $10 dollars in 1700 | $635.09 dollars today |
| $50 dollars in 1700 | $3,175.46 dollars today |
| $100 dollars in 1700 | $6,350.93 dollars today |
| $500 dollars in 1700 | $31,754.63 dollars today |
| $1,000 dollars in 1700 | $63,509.27 dollars today |
| $5,000 dollars in 1700 | $317,546.34 dollars today |
| $10,000 dollars in 1700 | $635,092.68 dollars today |
| $50,000 dollars in 1700 | $3,175,463.41 dollars today |
| $100,000 dollars in 1700 | $6,350,926.83 dollars today |
| $500,000 dollars in 1700 | $31,754,634.15 dollars today |
| $1,000,000 dollars in 1700 | $63,509,268.29 dollars today |
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 1700 and 2020.
Compare these values to the overall average of 1.31% per year:
| Category | Avg Inflation (%) | Total Inflation (%) | $1 in 1700 → 2020 |
|---|---|---|---|
| Food and beverages | 3.90 | 20,876,597.25 | 208,766.97 |
| Housing | 4.19 | 50,798,125.02 | 507,982.25 |
| Apparel | 1.96 | 49,350.98 | 494.51 |
| Transportation | 3.17 | 2,150,315.32 | 21,504.15 |
| Medical care | 5.12 | 870,782,633.08 | 8,707,827.33 |
| Recreation | 1.10 | 3,213.32 | 33.13 |
| Education and communication | 1.84 | 34,405.62 | 345.06 |
| Other goods and services | 4.98 | 575,433,716.25 | 5,754,338.16 |
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 1700. This table and charts use the earliest available data for each category.
How to Calculate Inflation Rate for $1 since 1700
Our calculations use the following inflation rate formula to calculate the change in value between 1700 and today:
CPI today
CPI in 1700
×
1700 USD value
=
Today's value
Then plug in historical CPI values. The U.S. CPI was 4.1 in the year 1700 and 260.388 in 2020:
260.3884.1
×
$1
=
$63.51
$1 in 1700 has the same "purchasing power" or "buying power" as $63.51 in 2020.
To get the total inflation rate for the 320 years between 1700 and 2020, we use the following formula:
CPI in 2020 - CPI in 1700CPI in 1700
×
100
=
Cumulative inflation rate (320 years)
Plugging in the values to this equation, we get:
260.388 - 4.14.1
×
100
=
6,251%
News headlines from 1700
Politics and news often influence economic performance. Here's what was happening at the time:
- Russia, Denmark-Norway and Saxony declare war against the Swedish Empire, the conflict is later known as the Great Northern War.
- Denmark stops using the Julian calendar.
- The Pacific Island of New Britain is discovered.
Data Source & Citation
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: “$1 in 1700 → 2020 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 25 Nov. 2020, https://www.officialdata.org/us/inflation/1700?amount=1.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 6,250.93% |
| Average inflation rate | 1.31% |
| Converted amount ($1 base) | $63.51 |
| Price difference ($1 base) | $62.51 |
| CPI in 1700 | 4.100 |
| CPI in 2020 | 260.388 |
| Inflation in 1700 | -2.38% |
| Inflation in 2020 | 1.18% |