![]() The average inflation rate of 4.01% has a compounding effect between 19. ![]() Recall that the converted amount is $9.39 when all items including food and energy are measured. When using the core inflation measurement, $1 in 1966 is equivalent in buying power to $9.10 in 2023, a difference of $8.10. Core InflationĪlso of note is the Core CPI, which uses the standard CPI but omits the more volatile categories of food and energy.Ĭore inflation averaged 3.95% per year between 19 (vs all-CPI inflation of 4.01%), for an inflation total of 810.26%. The PCE measured -234.51% inflation compared to standard CPI.įor more information on the difference between PCE and CPI, see this analysis provided by the Bureau of Labor Statistics. Compare this to the standard CPI measurement, which equates $1 with $9.39. This means that the PCE Index equates $1 in 1966 with $7.04 in 2023, a difference of $6.04. The total PCE inflation between these dates was 604.15%. The PCE Price Index changed by 3.48% per year on average between 19. It measures the change in prices of goods and services purchased by consumers. Federal Reserve's preferred measure of inflation, compiled by the Bureau of Economic Analysis. Personal Consumption Expenditures (PCE) Inflation Below are a few examples of alternative measurements. The Consumer Price Index, used above, is the most common standard used globally.Īlternative measurements are sometimes used based on context and economic/political circumstances. Published rates of inflation will vary depending on methodology. There are multiple ways to measure inflation. In Canada, CA$1.00 in 1966 would be equivalent to CA$8.67 in 2023, an absolute change of CA$7.67 and a cumulative change of 766.93%. For comparison, in the UK £1.00 in 1966 would be equivalent to £23.83 in 2023, an absolute change of £22.83 and a cumulative change of 2,283.45%. Inflation can also vary widely by country. Note that some locations showing 0% inflation may have not yet reported latest data. San Francisco, California experienced the highest rate of inflation during the 57 years between 19 (4.24%).ĭetroit, Michigan experienced the lowest rate of inflation during the 57 years between 19 (3.83%).
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