$1 in 1720 is equivalent in purchasing power to about $1 in 1723, an increase of $0.00 over 3 years. The dollar had an average inflation rate of 0.00% per year between 1720 and 1723, producing a cumulative price increase of 0.00%.

The 1720 inflation rate was -6.67%. The inflation rate in 1723 was 2.44%. The 1723 inflation rate is higher compared to the average inflation rate of 1.42% per year between 1723 and 2021.

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Average inflation rate | 0.00% |

Converted amount ($1 base) | $1 |

Price difference ($1 base) | $0.00 |

CPI in 1720 | 4.200 |

CPI in 1723 | 4.200 |

Inflation in 1720 | -6.67% |

Inflation in 1723 | 2.44% |

$1 in 1720 | $1 in 1723 |

This chart shows a calculation of buying power equivalence for $1 in 1720 (price index tracking began in 1635).

For example, if you started with $1, you would need to end with $1 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1 is equivalent to $1 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 1720 dollars, the chart below shows how $1 is worth less over 3 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 1720 amounts in 1723 dollars, based on the 0.00% change in prices:

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

$1 dollar in 1720 | $1.00 dollars in 1723 |

$5 dollars in 1720 | $5.00 dollars in 1723 |

$10 dollars in 1720 | $10.00 dollars in 1723 |

$50 dollars in 1720 | $50.00 dollars in 1723 |

$100 dollars in 1720 | $100.00 dollars in 1723 |

$500 dollars in 1720 | $500.00 dollars in 1723 |

$1,000 dollars in 1720 | $1,000.00 dollars in 1723 |

$5,000 dollars in 1720 | $5,000.00 dollars in 1723 |

$10,000 dollars in 1720 | $10,000.00 dollars in 1723 |

$50,000 dollars in 1720 | $50,000.00 dollars in 1723 |

$100,000 dollars in 1720 | $100,000.00 dollars in 1723 |

$500,000 dollars in 1720 | $500,000.00 dollars in 1723 |

$1,000,000 dollars in 1720 | $1,000,000.00 dollars in 1723 |

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 1720 and 1723.

Compare these values to the overall average of 0.00% per year:

Category | Avg Inflation (%) | Total Inflation (%) | $1 in 1720 → 1723 |
---|---|---|---|

Food and beverages | 0.00 | 0.00 | 1.00 |

Housing | 0.00 | 0.00 | 1.00 |

Apparel | 0.00 | 0.00 | 1.00 |

Transportation | 0.00 | 0.00 | 1.00 |

Medical care | 0.00 | 0.00 | 1.00 |

Recreation | 0.00 | 0.00 | 1.00 |

Education and communication | 0.00 | 0.00 | 1.00 |

Other goods and services | 0.00 | 0.00 | 1.00 |

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 1720. 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 1720 and 1723:

CPI in 1723
CPI in 1720

×

1720 USD value

=

1723 USD value

Then plug in historical CPI values. The U.S. CPI was 4.2 in the year 1720 and 4.2 in 1723:

4.24.2

×

$1

=

$1 in 1720 has the same "purchasing power" or "buying power" as $1 in 1723.

To get the total inflation rate for the 3 years between 1720 and 1723, we use the following formula:

CPI in 1723 - CPI in 1720CPI in 1720

×

100

=

Plugging in the values to this equation, we get:

4.2 - 4.24.2

×

100

=

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 1720 → 1723 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Dec. 2021, https://www.officialdata.org/us/inflation/1720?amount=1&endYear=1723.

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

in2013dollars.com is a reference website maintained by the Official Data Foundation.

Average inflation rate | 0.00% |

Converted amount ($1 base) | $1 |

Price difference ($1 base) | $0.00 |

CPI in 1720 | 4.200 |

CPI in 1723 | 4.200 |

Inflation in 1720 | -6.67% |

Inflation in 1723 | 2.44% |

$1 in 1720 | $1 in 1723 |