Figuring 1998 dollars in terms of 1988/89 dollars

Doug Henwood dhenwood at panix.com
Sun Nov 29 15:30:05 PST 1998


John B Kelly wrote:


>I received $7.85/hour in 1988/89 [not sure which] to pay my Medicaid
>funded helpers. Could someone tell me what that wage would be today,
>adjusted for inflation and all? Is there some easy conversion formula I
>could be pointed to?

The CPI-U was 118.4 in 1988, 124.0 in 1989, and 164.0 in October 1998. Matching $7.85 in 1988 would require $10.38 in 1998; matching it in 1989 would be $9.85.

You can get the whole CPI series at the BLS website.

Doug



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