Calculate annual inflation adjusted costs

Up to a present value (PV) inflated upwards.

inflation_adjust_cost_data(from_year, to_year, from_cost, inflation_df_nm)

Arguments

from_year

Date of cost to convert from
to_year

Date to convert cost to
from_cost

Cost at from_year
inflation_df_nm

Source of data (string) HCHS, or CPI.

Value

Inflated (to) cost (scalar), with attributes used to generate the return value:

  • from_year

  • to_year

  • from_cost

  • reference Which inflation adjustment dataset used.

Details

Option to use the following datasets:

$$(1 + i_{1})(1 + i_{2}) \cdots (1 + i_{n}) \times C$$

Clearly, for the same i each year this is simply $$C(1 + i)^n$$

Examples

from_year <- 2012
to_year <- 2015
from_cost <- 96.140

1*(1+0.035)^6
#> [1] 1.229255

inflation_adjust_cost_data(from_year = 2014,
                           to_year = 2016,
                           from_cost = 1,
                           inflation_df_nm = "HCHS")
#>   rate
#> 1 9.99
1*1.004*1.01
#> [1] 1.01404