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Inflation and CPI Rates

Current Consumer Price Index

 

Current Consumer Price Index Table

 

Current Inflation Rate Table

 

Source: Financial Trend Forecaster

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How Do I Calculate the Inflation Rate?

The following article explains how to calculate the current inflation rate, if you know the Consumer Price Index. If you don't know it, you can find it here. 

If you don't care about the mechanics and just want the answer, use our Inflation Calculator.

The Formula for Calculating Inflation

The formula for calculating the Inflation Rate using the Consumer Price Index is relatively simple. Every month the Bureau of Labor Statistics (BLS) surveys prices and generates the current Consumer Price Index (CPI).  Let us assume for the sake of simplicity that the index consists of one item and that one item cost $1.00 in 1984. The BLS published the index in 1984 at 100. If today that same item costs $1.85 the index would stand at 185.0

By looking at the above example, common sense would tell us that the index increased (it went from 100 to 185).  The question is how much has it increased? To calculate the change we would take the second number (185) and subtract the first number (100). The result would be 85.  So we know that since 1984 prices increased (Inflated) by 85 points.

What good does knowing that it moved 85 do? Not much. We still need a method of comparison.

Since we know the increase in the Consumer Price Index we still need to compare it to something, so we compare it to the price it started at (100). We do that by dividing the increase by the first price or 85/100. the result is (.85). This number is still not very useful so we convert it into a percent. To do that we multiply by 100 and add a % symbol.

So the result is an 85% increase in prices since 1984. That is interesting but (other than being the date of George Orwell's famous novel) to most people today 1984 is not particularly significant.

calculating a specific Inflation Rate

Normally, we want to know how much prices have increased since last year, or since we bought our house, or perhaps how much prices will increase by the time we retire or our kids go to college.

Fortunately, The method of calculating Inflation is the same, no matter what time period we desire. We just substitute a different value for the first one. So if we want to know how much prices have increased over the last 12 months (the commonly published inflation rate number) we would subtract last year's index from the current index and divide by last year's number and multiply the result by 100 and add a % sign.

The formula for calculating the Inflation Rate looks like this:

 ((B - A)/A)*100

So if exactly one year ago the Consumer Price Index was 178 and today the CPI is 185, then the calculations would look like this:

 ((185-178)/178)*100
or
 (7/178)*100
or
 0.0393*100

which equals 3.93% inflation over the sample year.
 (Not Actual Inflation Rates). For more information you may check the current Consumer Inflation Rate and Historical Inflation Rates in table format. Or if you believe a picture is worth a thousand words you may prefer the Annual Inflation Rate plotted in Chart format.

What happens if prices went down?

If prices went down and we experienced Price Deflation then "A" would be larger than "B" and we would end up with a negative number. So if last year the Consumer Price Index (CPI) was 189 and this year the CPI is 185 then the formula would look like this:

((185-189)/189)*100
or
 (-4/189)*100
or
-0.021*100

which equals negative 2.11% inflation over the sample year. Of course negative inflation is deflation.
  (Not Actual CPI numbers).

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San Diego County

Carlsbad, San Diego County, Southern California ▪ Coronado, San Diego County, Southern California ▪ Escondido, San Diego County, Southern California ▪ Oceanside, San Diego County, Southern California ▪ San Marcos, San Diego County, Southern California ▪ Vista, San Diego County, Southern California

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92656 92698 92801 92802 92803 92804 92805 92806 92807 92808 92809 92812 92814 92815 92816 92817 92825 92850 92899 92811 92821 92822 92823 90620 90621 90622 90624 92624 92625 92626 92627 92628 90630 92629 92650 92609 92610 92708 92728 92831 92832 92833 92834 92835 92836 92837 92838 92840 92841 92842 92843 92844 92845 92846 92605 92615 92646 92647 92648 92649 92602 92603 92604 92606 92612 92614 92616 92618 92619 92620 92623 92697 92709 92710 90631 90632 90633 90623 92694 92651 92652 92637 92653 92654 92607 92677 92630 90720 90721 92655 92690 92691 92692 92658 92659 92660 92661 92662 92663 92657 92856 92857 92859 92862 92863 92864 92865 92866 92867 92868 92869 92870 92871 92688 92672 92673 92674 92675 92693 92701 92702 92703 92704 92705 92706 92707 92711 92712 92725 92735 92799 90740 92676 90680 90742 90743 92678 92679 92780 92781 92782 92861 92683 92684 92685 92885 92886 92887

Broad Service Choices Also Available

Easy to Get Help on the Way, Right Away

We can go over all the service options with you during an introductory conversation and give you a free, objective service analysis and estimate.  There is no obligation.  Simply contact us or call and ask for Kathy or Tom at 949-583-1040. 

Coordinated Income Tax Preparation Available

By the way, In case you are considering a change in tax services, integrated income tax reduction and preparation services are available and easily accommodated through our parent company, Provident Financial Services.  We'd be happy to give you a free, objective service analysis and estimate.  There is no obligation.  Simply call us at (949) 583 1040.

Provident Bookkeeping Services

Expert QuickBooks Small Business Bookkeeping and Tutoring Services Based in Orange County (OC), Southern California
 

Provided by Certified QuickBooks ProAdvisor

Secure Correspondence: U.S. P.O. Box 1120, Lake Forest, Orange County (OC), Southern California
  92609-1120

Located Near Bake Parkway and Jeronimo Road, Lake Forest, Orange County (OC), Southern California
 

Hands-on Certified QuickBooks Small Business Bookkeeping Help, Services and Accounting Specialists in Small Business QuickBooks Problem Solving, Services, Help, Consulting, Support, Tutoring, Clean-up, Catch-up and On-going Bookkeeping and Overview Services

(949) 583 1040  ∙  (800) 404 6920

To read our client success stories, click here

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Competent ∙ Responsive ∙ Responsible

 

Broad Service Areas

Orange County (OC), Southern California

Aliso Viejo, Orange County (OC), Southern California ▪  Anaheim, Orange County (OC), Southern California  ▪  Costa Mesa, Orange County (OC), Southern California  ▪  Coto De Caza,  Orange County (OC), Southern California  ▪  Dove Canyon, Orange County (OC), Southern California  ▪  Foothill Ranch, Orange County (OC), Southern California  ▪  Irvine, Orange County (OC), Southern California  ▪  Ladera Ranch, Orange County (OC), Southern California  ▪  Laguna Beach, Orange County (OC), Southern California ▪  Laguna Hills, Orange County (OC), Southern California  ▪  Laguna Niguel, Orange County (OC), Southern California  ▪  Lake Forest, Orange County (OC), Southern California  ▪   Mission Viejo, Orange County (OC), Southern California  ▪  Newport Beach, Orange County (OC), Southern California  ▪  Orange, Orange County (OC), Southern California  ▪  Rancho Santa Margarita, Orange County (OC), Southern California  ▪  San Clemente, Orange County (OC), Southern California  ▪  San Juan Capistrano, Orange County (OC), Southern California  ▪  Santa Ana, Orange County (OC), Southern California  ▪  Trabuco Canyon, Orange County (OC), Southern California  ▪  Tustin, Orange County (OC), Southern California

Riverside County, Southern California

Corona, Riverside County, Southern California ▪ Norco, Riverside County, Southern California ▪ Ontario, Riverside County, Southern California ▪ Riverside, Riverside County, Southern California

Los Angeles County, Southern California

Bellflower, Southern California ▪ Carson, Southern California ▪ Cerritos, Southern California ▪ Commerce, Southern California ▪ Lakewood, Southern California ▪ Long Beach, Southern California ▪ La Mirada, Southern California ▪ Norwalk, Southern California ▪ Paramount, Southern California ▪ Redondo Beach, Southern California ▪ Seal Beach, Southern California

San Diego County, Southern California

Carlsbad, San Diego County, Southern California ▪ Coronado, San Diego County, Southern California ▪ Escondido, San Diego County, Southern California ▪ Oceanside, San Diego County, Southern California ▪ San Marcos, San Diego County, Southern California ▪ Vista, San Diego County, Southern California

Service Areas by Zip Code

92656 92698 92801 92802 92803 92804 92805 92806 92807 92808 92809 92812 92814 92815 92816 92817 92825 92850 92899 92811 92821 92822 92823 90620 90621 90622 90624 92624 92625 92626 92627 92628 90630 92629 92650 92609 92610 92708 92728 92831 92832 92833 92834 92835 92836 92837 92838 92840 92841 92842 92843 92844 92845 92846 92605 92615 92646 92647 92648 92649 92602 92603 92604 92606 92612 92614 92616 92618 92619 92620 92623 92697 92709 92710 90631 90632 90633 90623 92694 92651 92652 92637 92653 92654 92607 92677 92630 90720 90721 92655 92690 92691 92692 92658 92659 92660 92661 92662 92663 92657 92856 92857 92859 92862 92863 92864 92865 92866 92867 92868 92869 92870 92871 92688 92672 92673 92674 92675 92693 92701 92702 92703 92704 92705 92706 92707 92711 92712 92725 92735 92799 90740 92676 90680 90742 90743 92678 92679 92780 92781 92782 92861 92683 92684 92685 92885 92886 92887

Broad Service Choices Also Available

Easy to Get Help on the Way, Right Away

We can go over all the service options with you during an introductory conversation and give you a free, objective service analysis and estimate.  There is no obligation.  Simply contact us or call and ask for Kathy or Tom at 949-583-1040. 

Coordinated Income Tax Preparation Available

By the way, In case you are considering a change in tax services, integrated income tax reduction and preparation services are available and easily accommodated through our parent company, Provident Financial Services.  We'd be happy to give you a free, objective service analysis and estimate.  There is no obligation.  Simply call us at (949) 583 1040.

Provident Bookkeeping Services

Expert QuickBooks Small Business Bookkeeping and Tutoring Services Based in Orange County (OC), Southern California

Provided by Certified QuickBooks ProAdvisor

Secure Correspondence: U.S. P.O. Box 1120, Lake Forest, Orange County (OC), Southern California
  92609-1120

Located Near Bake Parkway and Jeronimo Road, Lake Forest, Orange County (OC), Southern California
 

Hands-on Certified QuickBooks Small Business Bookkeeping Help, Services and Accounting Specialists in Small Business QuickBooks Problem Solving, Services, Help, Consulting, Support, Tutoring, Clean-up, Catch-up and On-going Bookkeeping and Overview Services

(949) 583 1040  ∙  (800) 404 6920

To read our client success stories, click here

To email us, click here

 

Competent ∙ Responsive ∙ Responsible

 

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specifically tailored for small businesses:

 

Certified QuickBooks small business bookkeeping, accounting ∙ QuickBooks bookkeeping tutoring and training ∙ QuickBooks bookkeeping set up ∙ QuickBooks bookkeeping services ∙ QuickBooks bookkeeping help ∙ QuickBooks bookkeeping clean up ∙ QuickBooks bookkeeping catch up ∙ QuickBooks bookkeeping crisis management ∙ QuickBooks problems resolution ∙ QuickBooks bookkeeping solutions ∙ profit and loss statement (P & L statement) ∙ balance sheet ∙ statement of cash flow ∙ financial statements ∙ bank reconciliations ∙ accounts payable ∙ accounts receivable ∙ payroll ∙ payroll taxes ∙ sales tax returns ∙ workers compensation reports ∙ cost accounting ∙ small business accounting ∙ small business bookkeeping ∙ on site set up, repair set up, QuickBooks bookkeeping maintenance, restoration, reconstruction, monitoring, adjustment ∙ multi-user or single user installations ∙ desk top or on-line versions ∙ supporting QuickBooks versions 2006-2010 ∙ job cost set up, repair and reports ∙ services available monthly, quarterly or annually ∙ plus, lots more too numerous to mention here; call us for more details.   Learn more...

 

Disclosure Required by Moore v. California State Board of Accountancy: Provident Financial Services and Provident Bookkeeping Services provide accounting services in and adjacent to Orange County (OC), California not requiring state licensure.

 

Provident Bookkeeping Services is not affiliated with QuickBooks or Intuit, Inc.  QuickBooks is a registered trademark of Intuit, Inc.

Last updated Sunday December 27, 2009

 

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