How can I use the calculator to convert todays wages and prices into equivalent dollar amounts for past years?
Type the wage or price from this year into the Dollar Amount field. Type this year into the Starting Year field. Type the past year to which you want to convert this wage or price into the Target Year field. Click the Calculate button. The answer appears in the Converted Amount field. For example, suppose you just paid $2.50 for a gallon of regular gasoline. Somebody tells you that gasoline cost only 50 cents a gallon in 1975. But was gasoline really cheaper back then, after allowing for inflation? • To find out, use the default data set: U.S. Price Inflation (CPI-U, Annual Average). The currently selected data set is always indicated below the row of Inflation Calculator buttons. You can change it by clicking the Options button. • Enter 2.50 in the Dollar Amount field. • Enter 2010 in the Starting Year field. • Enter 1975 in the Target Year field. • Click on the Calculate button. The answer — in this case, $0.57 — appears in the Converted Amount field. Of course, 57 cents is more th
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