Inflate cost to a target year using SSA CPI — inflation

Adjust a given cost from its original year to a specified target year using the Consumer Price Index (CPI) values from the `cpi` dataset. Note this approach uses region median CPI estimates. For a more correct approach at the country level see https://linkinghub.elsevier.com/retrieve/pii/S1098-3015(19)32149-7

Usage

inflation_adjust(
  cost,
  cost_year,
  target_year = NULL,
  region = "Sub-Saharan Africa",
  adjust = TRUE
)

Arguments

cost: Numeric value of the original cost.
cost_year: Integer indicating the year corresponding to `cost`.
target_year: Integer indicating the year to adjust the cost to. If not supplied, the value of `getOption("treasure.target_year")` is used.
region: World region. If not supplied, the value of `getOption("treasure.region")` is used.
adjust: Logical indicator if inflation adjustment should be made. Default is true.

Value

Numeric value of the inflation-adjusted cost in `target_year` dollars.

Details

The `cpi` dataset must be included in the package and contain columns: - `year`: Calendar year. - `cpi`: CPI index value for that year.

This function is vectorised over all arguments.

Examples

# Adjust $0.26 from 2007 to 2024
inflation_adjust(0.26, 2007, 2024)
#> [1] 0.6746455