An inflation calculator
- Enter the price of the item
- Enter the tax rate
- Enter 1 to find future prices, 2 to find past prices
- Enter the year you want to know the price in
With provided inputs, it calculates the price of the item in the past or future corresponding to inflation - in this case, is 4.5% year over year. Using the simple Rule 72, which at the moment means the price of an item doubles roughly every 16 years, we'll get the year over year rate of 4.5%.