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to PHK Corporation
My own inflation indexes based on personal knowledge.
From 1978 to 2008, a 30 year span or 3 decades:
Food:
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In 1978, I could buy a Whopper meal with medium coke and fry for $1.50
(I know this was my lunch while working as a package man at Publix)
In 2008, the same meal costs me $5.00
This gives me an estimated average 4% inflation per decade
Housing:
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In 1978, I could rent a 2 bedroom apartment for $250 per month
In 2008, the same rental costs $1250 per month
This gives me an estimated average 13% inflation per decade
Gas:
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In 1978, when I started driving, gas cost me 89 cents per gallon. (by
the way, the last time I saw this price was in
November 2001 in Virginia)
In 2008, the same gallon of gas is at $2.89
This give me an estimated average of 6% inflation per decade.
How to use these estimates:
When calculating future earnings spending power,