ProAPOD has updated the Inflation Rate Calculator in Pro RE Calculator in accordance with government figures published January 13, 2021. As a result, users can now compute the annual US inflation rates from 1913 through December 2020.
In 1981 you spent $1,500 to remodel your home and want to know how much money you would have to spend to make that same purchase for construction supplies today. Here are the steps:
- Login to Pro RE Calculator
- Select the category Time Value
- Open the Inflation Rate calculator
- Select 1981 as the starting year
- Enter 1500 as the dollar amount spent
- Select 2020 as the ending year
- Click Calculate
Result: $4,270.81 and 184.7%.
Explanation: Due to a cumulative 184.7% increase in the U.S. annual inflation rate since 1981, you will currently have to spend $4,270.81 to make that same home renovation you made back in 1981 for $1,500.
So You Know
1. The Inflation Rate calculator in Pro RE Calculator 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 Pro RE Calculator, the Inflation Rate calculator will automatically reflect this latest update the next time you calculate. You do nothing.
3. The Inflation Rate Calculator is just one of 62 online calculators included in Pro RE Calculator.
4. Learn more: Pro RE Calculator…