The consumer price index (CPI) in 2016 was 240.007. the Bureau of Labor Statistics uses this CPI value to track inflation on a monthly basis.
According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 1.98% per year. Prices in 2018 are 4.0% higher than prices in 2016.
In other words, $1 in the year 2016 is equivalent in purchasing power to $1.04 in 2018, a difference of $0.04 over 2 years.
|Cumulative price change||4.00%|
|Average inflation rate||1.98%|
|Price difference ($1 base)||$0.04|
|CPI in 2016||240.007|
|CPI in 2018||248.991|
Politics and news often influence economic performance. Here's what was happening at the time:
Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.
You may use the following MLA citation for this page: “Inflation Rate in 2016 | Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 17 Apr. 2018, http://www.in2013dollars.com/inflation-rate-in-2016.