Mr. David Kramer of the LRC Blog tips us of a couple of inflation calculators.
The U.S. Government calculator says USD 1 in 1913 is equivalent to USD 21.75 in 2008.
The alternative calculator – going all the way back to the year 1800, whereas the former calculator only goes back to 1913 – says USD 1 in 1913 is equivalent to USD 21.52 in 2008. This calculator also says USD 1 in 1913 is equivalent to USD 1.55 in 1818.
There is quite a contrast between the 95 years since 1913, the year of the creation of the Federal Reserve, and the preceding 95 years. Indeed the ratio is different, but the direction (price inflation vs. price deflation) is also different.
Sunday, June 28, 2009
Inflation Calculators
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