Researchers Build Inflation Calculator to Help Users With Their Daily Finances

The Inflation Calculator has two modes. First, as a default, users can see how the value of money changes due to inflation and how it affects them personally. In the case of salaries, they would just need to enter their current wage (or a new one if they received a raise) to see how much it is equivalent to. It's a handy way of knowing whether they could retain their buying power. For the second mode, users can calculate inflation themselves by entering the yearly inflation rate and picking the start and end years to see the initial and final value of their money based on inflation.

As an example for the default mode, if a user made $54,132 last year, then due to inflation, their new salary should at least be $57,955 in order to keep their current buying power. It helps users know whether their current salary is enough to keep up with higher living costs.

About Omni Calculator: omnicalculator.com is an international tech company founded in 2014. It’s a platform consisting of over 3000 free Smart Calculators (calculators solving specific problems) organized into various categories, like finance, math, everyday life, and more. With an average of over 20 million pageviews each month, they have been featured in The Wall Street Journal, CBS, Forbes, Washington Post, and many more. Their team comprises more than 50 researchers from various fields – math enthusiasts and academics with hard-earned degrees working hand in hand with polymaths versed in multiple domains.