Inflation since 1700?

[edro]

I read that:

In 1714, the British Government offered, by Act of Parliament, £20,000 for a solution which could provide longitude to within half-a-degree (2 minutes of time).

That seems amazing to me. That has to be like a few hundred million dollars...

Old school X-Prize...

 

[Orsorum]

Link

Well, if it were in 1800, it would have been £281,690 today.

 

[edro]

1714 CPI = 0.063

Sooo... I would take 20,000£ / 0.063 = 317,460£ / .54 (to convert to USD) = $587,899 ?

Hmmm...