Inflation adjust dollar values using annual PCE Index — inflation

The Personal Consumption Expenditures Price Index (PCE Index) is from the Federal Reserve Bank of St. Louis's FRED tool.

Usage

inflation_adjust(
  df,
  year_variable,
  dollar_variables,
  names_suffix = NULL,
  base_year = 2024
)

Arguments

df: The dataframe with values to inflation-adjust
year_variable: The name of the column denoting the year that existing dollar-denominated figures are based in.
dollar_variables: The variables to inflation-adjust.
names_suffix: A suffix to add to the names of the inflation-adjusted variables. If NULL, defaults to "_<base_year>". If "", columns are renamed in place.
base_year: The year to use as the base for inflation adjustment. If NULL, defaults to the most recent year in the PCE index data.

Value

A dataframe with inflation-adjusted values

Examples

if (FALSE) { # \dontrun{
df = tibble::tribble(
  ~ year, ~ amount,
  1990, 1,
  1991, 1,
  1992, 1)

df |>
  inflation_adjust(
    year_variable = year,
    dollar_variables = amount,
    names_suffix = "inflation_adjusted")
} # }