The 1913-2008 Inflation Calculator and rate charts show inflation’s jump with today’s latest Consumer Price Index (CPI) figures released by the U.S. Department of Labor Bureau of Labor Statistics.
By entering any two dates and a dollar amount, the CoinNews Inflation Calculator measures the change in buying power over time. At the same time, it charts plot historical annual averages for rate of inflation, and annual percent changes for rate of inflation. The numbers and charts reflect the June rise in inflation.
Inflation rates jump in June
Consumer prices jumped 1.1 percent in June compared to increases of 0.6 percent in May and 0.2 percent in April. It was the second highest rise since 1982 and much higher than the 0.7 percent increase Wall Street economists expected.
The core CPI, which excludes volatile food and energy costs, rose by 0.3 percent. That was 0.1 percent higher than many expected.
The index for fuel oil rose 10.4 percent in May and soared 64 percent over the 12 months. The gasoline index rose 5.7 percent in May and surged 20.8 percent on a year-over-year basis.
In other June numbers, food and beverages rose 0.7 percent, natural gas rose 4.9 percent, energy prices jumped 6.6 percent, and gasoline prices soared by 10.1 percent.
What’s the real world meaning of these figures? The CoinNews Inflation Calculator can provide many insights.
Inflation Calculator examples
Using the calculator, anyone can determine the purchasing power of the dollar over time. A few examples after adjusting for inflation:
- An item purchased in 1913 for $1 would now cost $22.10 (up $0.22 from May numbers)
- An item purchased in 1950 for $10 would now cost $90.79 (up $0.90 from May numbers)
- An item purchased for $20 in 1985 would now cost $40.67 (up $0.40 from May numbers)
Mixed dates may also be used with the Inflation Calculator. As examples:
- An item purchased today for $100 would have cost $37.66 in 1980
- An item purchased for $20 in 1970 would cost more than triple, or $67.37 in 1990
Updated Charts on Inflation Rates
The CoinNews inflation page also includes two updated charts indicating the:
- Annual Averages for Rate of Inflation
- Annual Percent Changes for Rate of Inflation
While the Inflation Calculator is more of a general financial interest tool, specific numismatic calculators and tools may be found via the CoinNews menu: "COIN PRICING & COLLECTOR TOOLS".