written by: Arnold Zafra•edited by: Simon Hill•updated: 3/21/2011
Want to calculate how much your money was worth during certain years? Or want to know what you could buy for your $10 decades ago? Or perhaps how much your first house would cost today? You can find out all about these things using an inflation iPhone app.
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This iPhone app lets you calculate the effects of consumer price inflation or how much a product with a given value in US dollars will cost in another year. This inflation iPhone app will also help you estimate how much you'll pay for living expenses during retirement, figure out how much to save for your child's room and board in college or even amaze your friends by revealing the cost of a particular item a few years back. The app also allows you to use the average CPI for a 3-month period or for the whole year. (Price: Free)
Here's a simple inflation iPhone app that does exactly what it say it can do - calculates inflation based on a given amount from the US Consumer Price Index. The CPI goes as far back as 1913 so you can just imagine how useful it will be for calculating the relative value of money during specific years. What you'll appreciate about this app is its elegant and intuitive interface and its user-friendly wheel-based input mechanisms for updating money values. The app has a large numeric keypad and the interface is clutter-free. (Price: $0.99)
Here's another simple and yet powerful inflation iPhone app that lets you check how much money has changed its value over time. The app gives you the inflation rates for U.S. dollars, Canadian dollars, British pounds, Australia dollars and New Zealand dollars and the coverage spans as far back as 1880 for the United Kingdom. Isn't that cool? (Price: $0.99)
Simple and yet very helpful for finding out the effects of inflation on your investments and savings, initial investment amount, annual interest rate, and annual inflation rate. In other words, it's a great app when you're into investment since it also tells you the total interest earned after inflation effects. (Price: $0.99)
Finally, we have the Inflation Calculator iPhone app. It contains inflation data for the UK dating as far back as 1800 up to the present day. If you're interested in UK currency, this app will tell you about its changing value through the years. Want to find out how much the house you bought today cost in 1960? Or how about how much your current salary would cost in the 1930s? This app has the answer. (Price: $0.99)
So which of these inflation iPhone apps is the best? Since all of these apps are priced for just $0.99, with one offered as free, there's really no harm in trying out them out and choosing which really gives you the best value for your money. Although I'm more inclined to recommend US Inflation Calculator and Price Inflation.