How can I use the calculator to convert wages or prices from past years into equivalent dollar amounts today?
Type the wage or price from a past year into the Dollar Amount field. Type the year for that wage or price into the Starting Year field. Type the current year into the Target Year field. Click the Calculate button. The answer appears in the Converted Amount field. For example, let’s say you were making $25,000 a year in 2000. Have your wages kept pace with inflation over the last decade? • To find out, start with the default data set (U.S. Price Inflation, CPI-U, Annual Average): • Enter 25,000 in the Dollar Amount field. • Enter 2000 in the Starting Year field. • Enter 2010 (the default) in the Target Year field. • Click the Calculate button. The answer — in this case, $32,169.43 — appears in the Converted Amount field. If your current salary is less than that amount, you haven’t kept up with general price inflation. Time for a raise! If you are a clerical or hourly-wage worker, you can repeat this calculation using the alternative CPI-W data, which attempts to track your typical pu
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- How can I use the calculator to convert wages or prices from past years into equivalent dollar amounts today?
