I need help on how to adjust my figures by inflation.
I have two pieces of data. The first one is a company's nominal expenditures during the 2015-2020 period:
2015:$1,177,237
2016:$1,915,074
2017:$1,158,556
2018:$1,730,966
2019:$2,055,497
2020:$2,821,883
I need adjust those figures for inflation. I have the yearly Consumer Price Index with 2018 as the base year.
2015:87.65457
2016:90.12792
2017:95.57296
2018:100
2019:103.90067
2020:107.43
How should I adjust the expenditures to 2018 prices?
Thanks