Feel free to use our complete database with charts, tables and examples.
This a great tool to see how inflation can impact future
purchasing power. There is a reduction in
purchasing power each year based on a given level of inflation unless income
rises by a similar amount. It is important to estimate future
income levels required to maintain the same purchasing power you
have today. Your retirement goals should focus on targeting
these future values in order to maintain your current standard of
living. Use our
calculator (first) to determine approximately how much you
will have saved near retirement. Next, plug in your
estimated total savings at a future date into the
retirement payout calculator to determine if you are on track
with your current level of savings and number of years required
for retirement. Your first step begins below....
Consumer Price Index
The Consumer Price Index (CPI) is a measure of the average change
over time in the prices paid by urban consumers for a market basket
of consumer goods and services. Indexes are available for the U.S.
and various geographic areas. Average price data for select utility,
automotive fuel, and food items are also available.