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For what it's worth, that language is a very common way of describing inflation adjustment in contracts, laws, and regulations. It sounds technical, but that's
by kemitchell 5y ago
For what it's worth, that language is a very common way of describing inflation adjustment in contracts, laws, and regulations. It sounds technical, but that's because it tracks the Bureau of Labor Statistics terminology for its data publications directly.
I don't have it in front of me, but I'm pretty sure BLS' website has a calculator. I'd be very surprised if it doesn't use these parameters.
- kemitchell 5y agoBLS does indeed have an inflation calculator! https://www.bls.gov/data/inflation_calculator.htm https://www.bls.gov/data/inflation_calculator.htm From that page: > The CPI inflation calculator uses the Consumer Price Index[link] for All Urban Consumers (CPI-U) U.S. city average series for all items, not seasonally adjusted. This data[link] represents changes in the prices of all goods and services purchased for consumption by urban households. Clicking "this data" leads to https://data.bls.gov/timeseries/CUUR0000SA0 https://data.bls.gov/timeseries/CUUR0000SA0, which lists the same reference base that Big Time specifies: > Base Period: 1982-84=100