Yesterday, Today & Tomorrow

This tool allows you to enter a year in the past (Yesterday) and the cost of some item as of that year.  Then you enter the cost as of the current year (Today).  Finally, enter some future year for which you wish to know the inflation-adjusted cost of the item.  Click Calculate to compute the cost of the item for the future year (Tomorrow) assuming the same rate of inflation.

No script is provided for this screen.

This tool calculates the inflation-adjusted value of an item for a future year by first calculating the inflation rate experienced between the past and current costs. It then calculates the inflation-adjusted price in the future year by applying the calculated previous period inflation rate.

The past period inflation factor is calculated using following equation:

Inflation Factor = (Current Cost / Past Cost) ^ (1/Time Period in Years)

The future cost is calculated using the following equation:

Future Cost = Current Cost * Inflation Factor ^ Time Period in Years