The Inflation Rate Calculator included in the iCalculator suite of online real estate calculators has been updated in accordance with the latest US government CPI data released on Wednesday, November 15. This update means iCalculator users can now use the inflation rate calculator to compute US inflation rates from 1913 through October 2017.
You spent $3,300 for a used car back in 1988 and want to know how much money you would have to spend in October 2017 to purchase a similar car. Here are the steps:
- Login to iCalculator
- Select the category Time Value
- Open the Inflation Rate calculator
- Select 1988 as the starting year
- Enter $3300.00 as the dollar amount spent
- Select 2017 as the ending year
- Click Calculate
Result: $6,880.71 and 108.5%.
Explanation: Due to a 108.5% increase in the U.S. inflation rate since 1988, you will currently have to spend $6,880.71 for essentially the same car you paid $3,300 for back in 1988.
So You Know
1. The Inflation Rate calculator in iCalculator does not limit you to either the years or the amount you want to compute. You can select any starting year from 1913 through to the present, and enter any dollar amount you wish.
2. If you are a current user of iCalculator, the Inflation Rate calculator will automatically reflect this latest update the next time you calculate. Learn more about iCalculator…