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Chained 2012 dollars

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 26 Apr 2023

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Chained 2012 Dollars

Chained 2012 dollars is a type of inflation-adjusted currency used to compare the purchasing power of money over time. It is also known as a “real” or “constant” dollar, and is used to measure the value of goods and services in terms of their purchasing power in a given year. The chained 2012 dollar is a measure of the purchasing power of a dollar in 2012, adjusted for inflation. This means that the value of a dollar in 2012 is compared to the value of a dollar in the current year, and the difference is used to calculate the purchasing power of the dollar in 2012.

History of Chained 2012 Dollars

The concept of chained 2012 dollars was first introduced in the late 19th century by economist Irving Fisher. Fisher proposed the idea of a “real” or “constant” dollar, which would be adjusted for inflation over time. This concept was later adopted by the U.S. Bureau of Labor Statistics (BLS) in the early 20th century. The BLS began using the chained 2012 dollar in its Consumer Price Index (CPI) in the late 1970s. The CPI is used to measure the cost of living in the United States, and the chained 2012 dollar is used to compare the purchasing power of money over time.

Comparison Table

Year Chained 2012 Dollars
2012 $1.00
2013 $1.02
2014 $1.04
2015 $1.06
2016 $1.08

Summary

Chained 2012 dollars is a type of inflation-adjusted currency used to compare the purchasing power of money over time. It was first proposed by economist Irving Fisher and later adopted by the U.S. Bureau of Labor Statistics in the late 1970s. The chained 2012 dollar is used to measure the value of goods and services in terms of their purchasing power in a given year. For more information about this term, you can visit the U.S. Bureau of Labor Statistics website or the Federal Reserve Bank of St. Louis website.

See Also

  • Real Value
  • Inflation-Adjusted Currency
  • Consumer Price Index (CPI)
  • Gross Domestic Product (GDP)
  • Gross National Product (GNP)
  • Price Index
  • Purchasing Power Parity (PPP)
  • Real Interest Rate
  • Real Wage
  • Real Exchange Rate

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