At 3% inflation prices double in about 24 years. The Federal Reserve targets 2% inflation over time. To see historical U.S. inflation between two years, use the CPI inflation calculator.
How to use the Inflation Calculator
- Amount (today’s money)
- Expected inflation rate
- Number of years
- Old price
- New price
- Years between the prices
Results update as you type, and every field accepts the units shown in its menu.
How it works
Enter an amount, the expected inflation rate and the number of years – and optionally an old and new price.
Tips
- Use real (inflation-adjusted) figures to compare across years.
- Check whether data are seasonally adjusted.
- Use the same currency and base year throughout.
- Economic models simplify reality – treat results as illustrations, not forecasts.
Common mistakes to avoid
- Mixing nominal and real values.
- Comparing percentage changes with percentage-point changes.
- Treating correlations as causes.
Inputs explained
| Field | What to enter |
|---|---|
| Amount (today’s money) | Amount in your currency |
| Expected inflation rate | In % |
| Number of years | A number |
| Old price | Amount in your currency |
| New price | Amount in your currency |
| Years between the prices | A number |
What each result means
- Future cost of the same goods = [Amount (today’s money)]×(1 + [Expected inflation rate]÷100)^[Number of years]
- Buying power of the amount in the future = [Amount (today’s money)]÷(1 + [Expected inflation rate]÷100)^[Number of years]
- Loss of buying power = (1 – 1÷(1 + [Expected inflation rate]÷100)^[Number of years])×100
- Average inflation between the prices = (([New price]÷[Old price])^(1÷[Years between the prices]) – 1)×100
Example values
How the main result changes when Amount changes and everything else stays at the example values above:
| Amount (today’s money) | Future cost of the same goods |
|---|---|
| 500 | 671.96 |
| 750 | 1,007.94 |
| 1,000 | 1,343.92 |
| 1,250 | 1,679.9 |
| 1,500 | 2,015.87 |
| 2,000 | 2,687.83 |
Formula
Future price = price × (1 + inflation)^yearsBuying power of today's money in the future = amount ÷ (1 + inflation)^yearsInflation between two prices = (new ÷ old)^(1/years) − 1Worked example
Inputs — Amount (today's money): $1,000; Expected inflation rate: 3 %; Number of years: 10; Old price: $2.5; New price: $3.75; Years between the prices: 10.
Results — Future cost of the same goods = $1,343.92; Buying power of the amount in the future = $744.09; Loss of buying power = 25.59 %; Average inflation between the prices = 4.14 %.
Frequently asked questions
How does inflation affect money?
Each dollar buys less as prices rise.
What is a normal inflation rate?
Central banks typically target about 2% a year.
How long until prices double?
72 ÷ the inflation rate gives a quick estimate.
What formula does the Inflation Calculator use?
Future price = price × (1 + inflation)^years.