U.S. Bureau of Labor Statistics CPI Inflation Calculator
Introduction & Importance
The U.S. Bureau of Labor Statistics Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It’s crucial for understanding the impact of inflation on your purchasing power.
How to Use This Calculator
- Enter the year you want to calculate inflation for.
- Enter the amount of money you want to adjust for inflation.
- Click the “Calculate” button.
Formula & Methodology
The CPI inflation rate is calculated using the following formula:
Inflation Rate = [(CPI2 – CPI1) / CPI1] * 100
Where CPI1 is the CPI in the base year (2013), and CPI2 is the CPI in the year you’re calculating.
Real-World Examples
Data & Statistics
| Year | CPI |
|---|
Expert Tips
- Use the CPI to adjust for inflation when comparing prices over time.
- Consider using the CPI-U-RS (Research Series) for more accurate historical data.
Interactive FAQ
What is the base year for the CPI?
The base year for the CPI is 2013.
For more information, see the BLS CPI homepage and the CPI tutorial.