U.S. Inflation Calculator
The CPI Inflation Calculator extracts the latest data from the Bureau of Labor Statistics. The All-Items CPI, used by the calculator to calculate inflation rates in the United States, is updated as soon as the Bureau of Labor Statistics (BLS) releases its monthly CPI data.
How to Use The CPI Inflation Calculator?
Simply enter a dollar amount in the “costing” field, then select the years that you would like to compare. The years must be between 1913 and 2014, and the dollar amount must be between USD 1 and USD 10,000,000. For example, if you would like to know the difference between the value of $1 in 2014 versus $1 in 1945, type 1 in the “costing” field, type 1945 in the first year field, and 2014 in the second one. Hitting “Calculate” will display the result and generate a new chart.
How Does This Calculator Work Exactly?
As mentioned above, this inflation calculator uses the CPI (Consumer Price Index) rates from the Bureau of Labor Statistics. Rates are available from 1913 to 2014. New rates are published every month on the BLS website and are available publicly. Our calculator’s script extracts the rates for the selected dates and instantly calculates the result.
What is The Link Between CPI and Inflation?
The CPI is used by government agencies, banks and different entities to measure the effectiveness of fiscal and monetary policy, and to determine when that policy needs to be adjusted. The CPI basically correlates with purchasing power. When you hear the terms ‘in today’s dollars,’ or ‘adjusted for inflation,’ the values discussed have been adjusted by using the CPI in order to reflect true purchasing power, or the amount a dollar will buy, at different times in history.
Can I Add This Calculator to My Website?
Yes, we are the only U.S. inflation calculator that you can embed on any page of your site as a widget, and it’s completely free of charge. Simply head to the widget page, and start customizing the look and feel of your calculator. Once you are satisfied with how it looks, simply click “Get the Code” to receive a unique code snippet that you can embed on your site.