Following five months of consecutive declines, consumer inflation climbed in January at the same time annual inflation stood flat for the first time since 1955, the Labor Department reported Friday.
Consumer prices in January rose 0.3 percent. The increase is due mostly to higher energy costs, which jumped 1.7 percent and were led by a 6 percent increase in gasoline prices. On a 12-month basis, however, energy prices were down 20.4 percent. And that held the annual inflation rate to 0 percent.
Excluding food and fuel, the core rate increased by 0.2 percent last month and by 1.7 percent in the past year.
The Inflation Calculator and rate charts on CoinNews have been updated with the government’s latest Consumer Price Index (CPI) data. By entering any two dates from 1913-2009 and then a dollar amount, the calculator measures the change in the buying power of the dollar over time.
Inflation Calculator examples
Using the calculator, anyone can determine the purchasing power of the dollar over time. A few examples after adjusting for inflation:
- An item purchased in 1913 for $1 would now cost $21.23 (down 42 cents from 2008)
- An item purchased in 1950 for $10 would now cost $87.61 (down $1.73 from 2008)
- An item purchased for $20 in 1985 would now cost $39.25 (down 77 cents from 2008)
Mixed dates may also be used with the Inflation Calculator. As examples:
- An item purchased today for $500 would have cost $127.40 in 1975
- An item purchased for $1000 in 1980 would have cost $1,586.17 in 1990
Of course, not all "goods and services" rise or fall in tandem with inflation rates. For example, many computers when adjusted for inflation are actually less expensive today (and do much more) compared to years ago.
Latest Charts on Inflation Rates
The CoinNews inflation page also includes two updated charts indicating the:
- Annual Averages for Rate of Inflation
- Annual Percent Changes for Rate of Inflation or Inflation Rates
While the Inflation Calculator is more of a general financial interest tool, specific numismatic calculators and tools may be found via the CoinNews menu: "COIN PRICING & COLLECTOR TOOLS".
