Calculate Money in Today's Dollars

Adjust past money amounts for inflation to see what they would be worth today. This calculator uses historical inflation data to provide accurate conversions between different years.

How to Use This Calculator

To calculate how much money from a past year would be worth today, follow these steps:

Enter the original amount of money in the "Original Amount" field.
Select the year when the money was originally spent or saved.
Click the "Calculate" button to see the adjusted amount.

The calculator will display the adjusted amount in today's dollars, along with a chart showing the inflation trend over time.

How Inflation Adjustment Works

Inflation adjustment converts past money values to today's dollars by accounting for price changes over time. The formula used is:

Adjusted Amount = Original Amount × (Inflation Factor)

Where Inflation Factor = (CPI for Current Year / CPI for Original Year)

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a basket of goods and services.

Note: This calculator uses the Bureau of Labor Statistics' CPI data for the United States. For other countries, you may need to use different inflation indices.

Worked Examples

Example 1: Adjusting $100 from 2000 to Today

If you had $100 in 2000, the calculator would adjust it as follows:

Adjusted Amount = $100 × (CPI 2023 / CPI 2000)

Assuming CPI 2000 = 172.2 and CPI 2023 = 288.797:

Adjusted Amount = $100 × (288.797 / 172.2) ≈ $167.75

So, $100 from 2000 would be worth approximately $167.75 today.

Example 2: Adjusting $50 from 1980 to Today

For $50 from 1980:

Adjusted Amount = $50 × (CPI 2023 / CPI 1980)

Assuming CPI 1980 = 69.6 and CPI 2023 = 288.797:

Adjusted Amount = $50 × (288.797 / 69.6) ≈ $205.76

So, $50 from 1980 would be worth approximately $205.76 today.

Frequently Asked Questions

What is inflation adjustment?: Inflation adjustment converts past money values to today's dollars by accounting for price changes over time using the Consumer Price Index (CPI).
How accurate is this calculator?: The calculator uses official CPI data from the Bureau of Labor Statistics, providing the most accurate inflation adjustments available.
Can I use this for international money?: This calculator uses US CPI data. For other countries, you may need to use different inflation indices specific to that country.
What if I don't know the exact year?: You can estimate by choosing the closest available year in the calculator. For more precise adjustments, you may need to use more detailed historical data.
How often is the inflation data updated?: The calculator uses the most recent CPI data available from the Bureau of Labor Statistics, which is typically updated monthly.