Here is what the Microsoft Bing Chatbot, Sydney, thinks about this calculator.

Question: What is an inflation calculator

Answer:

"Inflation is a term that refers to the increase in prices of goods and services over time. It is a common phenomenon that affects every economy in the world. Inflation can be caused by various factors such as an increase in demand for goods and services, a decrease in supply, or an increase in production costs. Inflation can have a significant impact on the economy and people's lives. It can reduce the purchasing power of money and lead to a decrease in the standard of living.

In Kenya, inflation has been a major concern for many years. The country has experienced high inflation rates over the past few decades. The inflation rate for consumer prices in Kenya moved over the past 61 years between -0.2% and 46.0%. For 2021, an inflation rate of 6.1% was calculated². This has led to an increase in the cost of living and reduced purchasing power for many Kenyans.

To help people understand how inflation affects their finances, the Central Bank of Kenya provides an inflation calculator on their website¹. This calculator allows users to calculate the inflation rate for any year based on the consumer price index (CPI). The CPI is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Using this calculator is easy. All you need to do is enter the year you want to calculate the inflation rate for and the amount of money you want to adjust for inflation. The calculator will then show you how much money you would need in today's currency to have the same purchasing power as you had in the year you entered.

For example, let's say you want to know how much money you would need today to have the same purchasing power as KES 10,000 had in 2010. You would enter "2010" as the year and "10000" as the amount of money. The calculator would then show you that you would need KES 15,000 today to have the same purchasing power as KES 10,000 had in 2010.

In conclusion, an inflation calculator is a useful tool that can help people understand how inflation affects their finances. The Central Bank of Kenya provides an inflation calculator on their website that allows users to calculate the inflation rate for any year based on the consumer price index (CPI). Using this calculator is easy and can help people make informed financial decisions.

Source:

(1) Inflation rates in Kenya - Worlddata.info. https://www.worlddata.info/africa/kenya/inflation-rates.php Accessed 5/24/2023.

(2) Inflation Rates | CBK. https://www.centralbank.go.ke/inflation-rates/ Accessed 5/24/2023.

(3) World Bank Data. https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG?locations=KE Accessed 5/24/2023."

It got the math very wrong unfortunately.