Inflation Rate Calculator
You can use the Inflation Rate Calculator
below to calculate the TOTAL rate of price inflation between two dates from
1914- Present. This is the cumulative inflation between two
points in time.
Please read the following instructions
carefully. It does make a difference in understanding how
the calculator works and ensuring that you get the right
answer.
To start select the starting
month and year and the ending month and year and then click the
"Calculate Inflation Rate" button to see your inflation
calculation.
Remember
the data is a month old by the time it is released by the Bureau of Labor Statistics. CPI Index Release Dates
So depending on what time
of month it is, you can only get data up through last month or even
the previous month. (Early in the month you will have to go two months
prior, late in the month it will be the previous
month.
Once you hit the Calculate Button the result will appear in an empty box in the calculator.
To compare the cost of living in two cities use
this
Cost of Living calculator
For calculations from 1800-2002 you might try this
calculator
Once you have calculated the inflation rate you might want to know how much something would cost after increasing by that amount of inflation. To calculate that simply plug the inflation rate and the starting amount into this How much would it cost calculator
Is your salary keeping up with inflation? What you need next year just to keep up. Use our Salary Inflation Calculator
Note: This Inflation Calculator gives you the percentage of increase in prices over a period. For example from January 2005 - January 2006 prices increased 3.99% therefore something that cost $1 in January 2005 would cost $1 + (inflation rate) in January 2006. So in this case it would be $1+($1 x .0399)= $1.0399 or $1.04
Although this seems obvious for one year when the inflation rate gets larger (above 100%) it is not so intuitive.
From December 1957 through December
2007 the Calculator will tell you that inflation was
639.56%.
If we plug the calculator results into
the above formula we find that something that cost $1 in
December 1957 would cost $1+ ($1 x 6.3956)=$7.40
Remember the result is in percent.
To
calculate its decimal equivalent you need to move the
decimal point two places to the left. So 639.56% = 6.3956 in
decimals.
Note: If you receive a
"runtime error" you have chosen a date with data not yet
available.
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