The current inflation rate page gives more detail on the latest inflation rates. 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. According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:. This conversion table shows various other amounts in today's dollars, based on the 1, Inflation can vary widely by city, even within the United States.
San Francisco, California experienced the highest rate of inflation during the years between and 2. Detroit, Michigan experienced the lowest rate of inflation during the years between and 2. Inflation can also vary widely by country. CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes. This chart shows the average rate of inflation for select CPI categories between and The graph below compares inflation in categories of goods over time.
Click on a category such as "Food" to toggle it on or off:. For all these visualizations, it's important to note that not all categories may have been tracked since This table and charts use the earliest available data for each category. Our calculations use the following inflation rate formula to calculate the change in value between and today:.
Then plug in historical CPI values. According to the BLS, each of these amounts are equivalent in terms of what that amount could purchase at the time. If you're interested to see the effect of inflation on various amounts, the table below shows how much each amount would be worth today based on the price increase of 1, We then replace the variables with the historical CPI values.
The CPI in was 20 and To work out the total inflation rate for the years between and , we can use a different formula:. Again, we can replace those variables with the correct Consumer Price Index values to work out the cumulativate rate:. The inflation rate is the percentage increase in the average level of prices of a basket of selected goods over time.
It indicates a decrease in the purchasing power of currency and results in an increased consumer price index CPI. Put simply, the inflation rate is the rate at which the general prices of consumer goods increases when the currency purchase power is falling. This website uses cookies We place some essential cookies on your device to make this website work. Set cookie preferences. Currency converter: — Calculate purchasing power. Sorry, there was a problem Please check the highlighted fields to proceed.
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