The CoinNews U.S. Inflation Calculator and annual Rate of Inflation Charts have been updated to use the very latest Consumer Price Index (CPI) April figures, as provided by the U.S. Department of Labor Bureau of Labor Statistics and released yesterday, May 14, 2008.
The Inflation Calculator can be used to measure the change in buying power of the U.S. dollar over any period from 1913-2008. The charts provide a quick snapshot of current and historical annual averages for rate of inflation, and annual percent changes for rate of inflation.
U.S. Bureau of Labor Statistics April CPI inflation figures
According to the latest U.S. Bureau of Labor Statistics, the consumer price index (CPI), a measure of the average price changes for goods and services, slowed to 0.2% in April and was less than the forecasted 0.3%. By comparison, March experienced a 0.3% rise.
The core index, which excludes food and energy prices, climbed 0.1%, but was also below expectations.In other numbers, fruit and vegetable prices rose 2%, beverages climbed 1.7%, and cereal and bakery goods were up 1.4%.
What’s the real world meaning of some of these figures? As always, the CoinNews Inflation Calculator can provide some insights.
Examples of the Inflation Calculator
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 $21.70 (up $0.13 from March numbers)
- An item purchased in 1950 for $10 would now cost $89.14 (up $0.54 from March numbers)
- An item purchased for $20 in 1985 would now cost $39.93 (up $0.24 from March numbers)
Mixed dates may also be used with the Inflation Calculator. As examples:
- An item purchased today for $20 would have cost $10.02 in 1985
- An item purchased for $1 in 1970 would have cost $3.37 in 1990
Updated Annualized Inflation Rate Charts
The CoinNews inflation page also includes two updated charts indicating the:
- Annual Averages for Rate of Inflation
- Annual Percent Changes for Rate of Inflation
The Inflation Calculator and Rate of Inflation Charts use the latest available 2008 monthly CPI index numbers, which are the just released April figures.
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".