An item that costs $6.49 in 2014 was priced at $1 in 1969, according to an inflation calculator from CoinNews. The total percent of inflation between 1969 and 2014 is 549.2 percent.
To calculate the amount of inflation from one year to another, the CoinNews inflation calculator uses data from the Bureau of Labor Statistics, specifically the inflation data from the Consumer Price Index, or CPI. Inflation is defined as the continual rise of prices over time or the continual decline of the value of the U.S. dollar. The Consumer Price Index is just one measure of inflation, but it is considered the best measure of inflation when comparing the price of consumer goods.
