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Adjust a historical monetary value for inflation

Source: R/adjust.R
adjust_inflation.Rd

Converts an amount from a historical year into its equivalent value in a target year, using bundled CPI data sourced from the World Bank Development Indicators. Supports GBP, AUD, USD, EUR, CAD, JPY, CNY, CHF, NZD, INR, KRW, BRL, and NOK.

Usage

adjust_inflation(amount, from_year, currency, to_year = NULL, round = 2)

Arguments

amount

Numeric (scalar or vector). The original monetary amount(s).

from_year

Integer. The year the amount is from.

currency

Character. A currency code or country name. Accepted codes: "GBP", "AUD", "USD", "EUR", "CAD", "JPY", "CNY", "CHF", "NZD", "INR", "KRW", "BRL", "NOK". Country names are also accepted, e.g. "Australia", "United States", "Japan", "New Zealand", "India", "Norway" (case-insensitive).

to_year

Integer. The target year to adjust to. Defaults to the latest available year in the data.

round

Integer or NULL. Number of decimal places to round to (default 2). Use NULL for full precision.

Value

A numeric value (or vector) representing the inflation-adjusted amount.

See also

Other CPI adjustment: historical_value()

Examples

# What is £12 from 1963 worth today?
adjust_inflation(12, 1963, "GBP")
#> [1] 256.43

# What is AUD 50 from 1980 worth in 2000?
adjust_inflation(50, 1980, "AUD", to_year = 2000)
#> [1] 135.59

# Full precision
adjust_inflation(100, 2000, "USD", to_year = 2020, round = NULL)
#> [1] 150.3081