Simplest Adjustment for Inflation


#1

What is the simplest way to get pooled ASEC wage and income data from 2011-2014 to all be in 2014 dollars?

Thank you.


#2

This page will walk you through how to adjust for inflation. In short, there are two steps. First, use the variable CPI99 to adjust dollar amounts to constant 1999 dollars. Second, convert the 1999 dollars to your desired base year by multiplying by the corresponding alternate factor provided in Table 2.

Hope this helps!