$300 in 1842 is equivalent in purchasing power to about $10,008.55 today, an increase of $9,708.55 over 179 years. The dollar had an average inflation rate of 1.98% per year between 1842 and today, producing a cumulative price increase of 3,236.18%.

This means that today's prices are 33.36 times higher than average prices since 1842, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 3.00% of what it could buy back then.

The 1842 inflation rate was -5.75%. The current year-over-year inflation rate (2020 to 2021) is now 5.25%^{1}.
If this number holds, $300 today will be equivalent in buying power to $315.75 next year.
The current inflation rate page gives more detail on the latest inflation rates.

Contents

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Cumulative price change | 3,236.18% |

Average inflation rate | 1.98% |

Converted amount ($300 base) | $10,008.55 |

Price difference ($300 base) | $9,708.55 |

CPI in 1842 | 8.200 |

CPI in 2021 | 273.567 |

Inflation in 1842 | -5.75% |

Inflation in 2021 | 5.25% |

$300 in 1842 | $10,008.55 in 2021 |

This chart shows a calculation of buying power equivalence for $300 in 1842 (price index tracking began in 1635).

For example, if you started with $300, you would need to end with $10,008.55 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $300 is equivalent to $10,008.55 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 1842 dollars, the chart below shows how $300 is worth less over 179 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 1842 amounts in today's dollars, based on the 3,236.18% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1842 | $33.36 dollars today |

$5 dollars in 1842 | $166.81 dollars today |

$10 dollars in 1842 | $333.62 dollars today |

$50 dollars in 1842 | $1,668.09 dollars today |

$100 dollars in 1842 | $3,336.18 dollars today |

$500 dollars in 1842 | $16,680.91 dollars today |

$1,000 dollars in 1842 | $33,361.83 dollars today |

$5,000 dollars in 1842 | $166,809.15 dollars today |

$10,000 dollars in 1842 | $333,618.29 dollars today |

$50,000 dollars in 1842 | $1,668,091.46 dollars today |

$100,000 dollars in 1842 | $3,336,182.93 dollars today |

$500,000 dollars in 1842 | $16,680,914.63 dollars today |

$1,000,000 dollars in 1842 | $33,361,829.27 dollars today |

Inflation can also vary widely by country. For comparison, in the UK £300.00 in 1842 would be equivalent to £34,798.53 in 2021, an absolute change of £34,498.53 and a cumulative change of 11,499.51%.

Compare these numbers to the US's overall absolute change of $9,708.55 and total percent change of 3,236.18%.

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 1842 and 2021.

Compare these values to the overall average of 1.98% per year:

Category | Avg Inflation (%) | Total Inflation (%) | $300 in 1842 → 2021 |
---|---|---|---|

Food and beverages | 3.88 | 91,022.10 | 273,366.31 |

Housing | 4.16 | 147,096.94 | 441,590.83 |

Apparel | 1.95 | 3,077.98 | 9,533.95 |

Transportation | 3.26 | 31,281.19 | 94,143.57 |

Medical care | 4.69 | 363,576.04 | 1,091,028.11 |

Recreation | 1.13 | 642.25 | 2,226.75 |

Education and communication | 1.83 | 2,458.70 | 7,676.11 |

Other goods and services | 4.94 | 558,084.22 | 1,674,552.67 |

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 1842. This table and charts use the earliest available data for each category.

Our calculations use the following inflation rate formula to calculate the change in value between 1842 and today:

CPI today
CPI in 1842

×

1842 USD value

=

Today's value

Then plug in historical CPI values. The U.S. CPI was 8.2 in the year 1842 and 273.567 in 2021:

273.5678.2

×

$300

=

$300 in 1842 has the same "purchasing power" or "buying power" as $10,008.55 in 2021.

To get the total inflation rate for the 179 years between 1842 and 2021, we use the following formula:

CPI in 2021 - CPI in 1842CPI in 1842

×

100

=

Plugging in the values to this equation, we get:

273.567 - 8.28.2

×

100

=

Politics and news often influence economic performance. Here's what was happening at the time:

- A British surgeon, Dr William Brydon, became famous for being the only survivor of an entire army, 16,500 men strong, during the first Afghan War.
- Regent of the Emperor of Ethiopia, Ras Ali Alula defeats Wube Haile Maryam of Semien in the Debre Tabor Battle
- America Declares the Second Seminole War against Indians, which was to remove them from Florida and Oklahoma.
- The Opium War ends after,Great Britain and China,sign the treaty of Nanking.

You may use the following MLA citation for this page: “$300 in 1842 → 2021 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 24 Sep. 2021, https://www.officialdata.org/us/inflation/1842?amount=300.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

Cumulative price change | 3,236.18% |

Average inflation rate | 1.98% |

Converted amount ($300 base) | $10,008.55 |

Price difference ($300 base) | $9,708.55 |

CPI in 1842 | 8.200 |

CPI in 2021 | 273.567 |

Inflation in 1842 | -5.75% |

Inflation in 2021 | 5.25% |

$300 in 1842 | $10,008.55 in 2021 |