Need to show students why stuffing money under their mattress doesn't end well? Here's just the thing.

If you've ever wondered about the changing value of the dollar, PerThirtySix has the perfect tool: an interactive visualization that elegantly presents how $1 spent in various categories back in December 1999 would compare to today.

The chart depicts the journey of the American dollar from 1999 to July 2023 across various spending categories like food, housing, apparel, and more. The beauty of this tool is its simplicity; it transforms the complex data from the U.S. Bureau of Labor Statistics into a visual feast, making it more digestible and engaging.

In essence, this visualization showcases the Chained Consumer Price Index. For those who might be scratching their heads, the Consumer Price Index (CPI) is essentially a gauge, helping us decipher the rise or fall in the cost of everyday items over time. Think of it as the heartbeat monitor of your shopping cart. Now, the Chained CPI is a refined version, giving a closer look at the inflation's impact by considering how consumers might opt for alternative items when prices fluctuate.

Questions:

• In your own words, what is the Consumer Price Index (CPI)?
• Which category has seen the most significant increase since December 1999? Why do you think that is?
• Which category has seen the least change? What factors might contribute to that stability?
• How does the changing value of the dollar impact our daily financial decisions?
• The visualization doesn't include the prices of stocks or homes. Why might these be significant in understanding the economy and personal finance?
• How do the sparklines (the lines that show the growth of each category) and color-coded table aid in interpreting the data?
• Based on the current trends in the chart, how do you foresee the value of a dollar in different categories in the next 5 or 10 years?
• How can understanding this visualization help in planning future expenses, like college or buying a car?

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We have lots more of these interactive resources in our Interactive Library. Each comes with a worksheet too!

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The ECON: What is the Consumer Price Index? activity will give your students even more background on this important metric.

About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.