----- Original Message ---- From: Charles Turner <vze26m98 at optonline.net> To: LBO-Talk <lbo-talk at lbo-talk.org> Sent: Monday, December 15, 2008 8:21:17 AM Subject: [lbo-talk] How to do real dollar conversions?
I thought someone here could give me some pointers:
For a dissertation in musicology, I need to convert some past dollar amounts to their current value. These would be salaries and equipment purchases made in the years 1967 - 1972.
My understanding is that I need to take the past amount as a baseline, and multiply it by the percentage increase in the Producer Price Index since that past date.
Does that sound right? Anything else I need to know? Where do I find the PPI data for '67 thru '72?
Thanks in advance,
[WS:] Why not price indexes for personal consumption expenditures? http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=64&Freq=Qtr&FirstYear=2006&LastYear=2008
The above tables go back to 1929.
Wojtek