"When $1 is equivalent to $15.66 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 1776 dollars, the chart below shows how $1 is worth less over 215 years."
$1.00 in 1776 is worth $0.03 today
>>https://www.in2013dollars.com/us/inflation/1776?endYear=1991&amount=1