Pro RE Calculator has updated its Inflation Rate Calculator in accordance with government figures released August 12. This means that our calculator users can compute US inflation rates from 1913 through July 2020.
You spent $15,000 for a vacation trip in 2002 and want to know how much money you would have to spend in July 2020 to purchase a similar vacation. Here are the steps:
- Login to Pro RE Calculator
- Select the category Time Value
- Open the Inflation Rate calculator
- Select 2002 as the starting year
- Enter $15000.00 as the dollar amount spent
- Select 2020 as the ending year
- Click Calculate
Result: $21,603.75 and 44.0%.
Explanation: Due to a 44.0% increase in the U.S. inflation rate since 2002, you will currently have to spend $21,603.75 for essentially the same vacation you paid $15,000 for back in 2002.
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.
3. Learn more: Pro RE Calculator…