What is the Inflation Calculator?

The Inflation Calculator is a free online tool designed to help you understand the effects of inflation on your savings, investments, and purchasing power over time. It allows you to calculate the equivalent value of a specific amount of money in the past or future, taking into account the rate of inflation.

By using the Inflation Calculator, you can gain valuable insights into how inflation affects your finances and make informed decisions about your money.

How to Use the Inflation Calculator:

• Enter the amount of money you want to calculate (past or future value).
• Select the start and end dates for the calculation period.
• Choose the inflation rate (optional) or use the default rate based on historical data.

FAQ:

Here are some common questions about the Inflation Calculator:

• Q: What is the source of the inflation data used by the Inflation Calculator?

  A: The Inflation Calculator uses historical inflation data from reputable sources such as the Bureau of Labor Statistics (BLS) and the Federal Reserve Bank of St. Louis.

• Q: Can I use the Inflation Calculator for investment or financial planning purposes?

  A: Yes, the Inflation Calculator can be a useful tool for investment and financial planning purposes. However, it is essential to consult with a financial advisor or conduct your own research before making any investment decisions.