Skip to comments.Inflation Calculator
Posted on 04/07/2013 11:56:23 AM PDT by fella
Have some fun with this Inflation Calculator.
I like inflatio. It usually ends after you get married.
The truth is even more dramatic. This calculator uses the BLS CPI as its basis. The Federal government has been redefining the CPI to lessen its impact and continues to do so. I just love it when the monthly announcement of a low CPI increase is made with the footnote that it excludes food and energy. Another example of reduction adjustments is when the consumer substitutes a cheaper item because the original has become too expensive. That substitution is considered an equivalent exchange and therefore the increase in cost of the more expensive/higher quality item is not considered in the CPI calculation. Short version: the books are cooked.
Exactly. If this wre an accurate calculation, then gas would be $2.62/gal now based on my first job at a gas station in 1959 (Sunoco: $0.299/gal).
You can still buy a gallon of gas for 20¢.
Provided both those dimes are 1964 or earlier silver dimes...
That's why things like CPI calculators are fun but ultimately useless. There is no such thing as a "price level". Every item's price rises and falls separately from every other's.
The idea of a price level is a Keynesian concoction that bears no resemblance to reality.
What did Henry Ford get the price of a Model T down to?
$260 or so.
Doesnt work very well. I bought a Pinto for 2000K in 1973 and the calculator tells me that a cheap car would cost over 100K now.
That is 2000 dollars not 2000K.
It way underestimates. I have some magazines from the 20’s and tested against prices in the advertisements.
For example 5 cents for a Coke would be .66 cents now - very low.
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