The “My dollar is worth what?” activity helps students to learn more about inflation and compare the buying power of the consumer’s dollar over time. Students will answer questions about inflation and learn to calculate inflation rates themselves.
Approximately 45 minutes to 1 hour
Students will need
Using a printed version of the “My dollar is worth what?” activity document, have the students read about the Consumer Price Index and review scenarios of inflation.
Next, have the students use the BLS inflation calculator located at https://www.bls.gov/data/inflation_calculator.htm to enter dollar amounts provided in various scenarios. They will enter the comparative buying power from the year in the scenario to today’s dollars.
The final portion of the activity includes scenarios where actual indexes are provided and the students are asked to manually calculate the inflation and record the change in buying power.
At the conclusion of the activity, students should be able to:
You may visit https://www.bls.gov/cpi/ to learn more about the Consumer Price Index (CPI) program.
If you have any questions about this K-12 activity, or would like to provide feedback, please contact the BLS Division of Information and Marketing Services at 202-691-5200, or email us at firstname.lastname@example.org.
Last Modified Date: June 22, 2018