This online tool, provided by a specific personal finance website, allows users to calculate the past or future value of money adjusted for inflation. For example, it can determine the equivalent purchasing power of $100 in 1980 compared to today’s money or project the future value of a current investment considering inflationary effects.
Understanding the impact of inflation on personal finances is crucial for making informed financial decisions. This specific resource empowers individuals to evaluate the real return on investments, plan for retirement more accurately, and assess the long-term effects of inflation on their purchasing power. Access to historical inflation data provides valuable context for these calculations, illustrating long-term trends and potential future impacts.