Pro RE Calculator has updated its Inflation Rate Calculator in accordance with government figures published Friday, Sept. 11. Therefore, users can compute US annual inflation rates from 1913 through August 2020.
You spent $1,000 for a household appliance in 1978 and want to know how much money you would have to spend in August 2020 to make that purchase for a similar appliance. Here are the steps:
- Login to Pro RE Calculator
- Select the category Time Value
- Open the Inflation Rate calculator
- Select 1978 as the starting year
- Enter $1000 as the dollar amount spent
- Select 2020 as the ending year
- Click Calculate
Result: $3,986.47 and 298.6%.
Explanation: Due to a 298.6% increase in the U.S. annual inflation rate since 1978, you will currently have to spend $3,986.47 for essentially the same appliance you paid $1,000 for back in 1978.
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…