For those of you frustrated by several years of “oil sets new [nominal] record” news stories, the news today, is that it really did surpass the record of $39.50 a barrel set in the 1980s, once adjusted for inflation: $103.95 vs $103.76 Hurrah! Or, rather, not.
March 30, 2008 at 7:34 am |
Hmmm… Forgive me for trusting the NY Times so little that if it said the sky is blue and water is wet, I’d look up and have a shower. You know, just to verify. And to cleanse myself.
According to the CPI Inflation Calculator at the Bureau of Labor Statistics’ web site, $30.50 is equal to only $101.48 in today’s dollars. The Federal Reserve Bank of Minneapolis says the current value is only $103.35.
I’m disappointed in StatsBlog; I fully expected a bit of research in the form of a link to a calculator which shows such.
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On a side note, the site “Odd Numbers” in your blog roll has no actual URL.