Formula
Equivalent = amount × (1 + i)^(to year − from year)Purchasing power lost = 1 − 1 ÷ (1 + i)^years How it works
Inflation is the general rise in prices over time. When prices rise, each dollar buys less, so the same amount of money is worth less in the future and was worth more in the past. This calculator compounds an average annual inflation rate across the years you choose.
Use it in either direction. Enter a past year first to see what an old price is in today's money, or a future year second to see how much you will need later to match today's buying power. Setting the "to" year before the "from" year converts backwards.
Because it uses one average rate, the result is an approximation. Actual inflation varies a lot year to year — U.S. consumer prices rose about 1% in some years of the 2010s and about 8% in 2022. For exact historical comparisons, use the Bureau of Labor Statistics CPI data for the specific years.
Frequently asked questions
What inflation rate should I use for planning?
The U.S. Federal Reserve targets 2% a year over the long run. Many planners use 2.5–3% to stay on the safe side for long-term goals like retirement.
How fast does inflation halve the value of money?
Divide 72 by the inflation rate. At 3%, prices double — and money's buying power halves — in about 24 years.