Auto update cell price for inflation

jeff2813

New Member
Joined
Jul 17, 2019
Messages
30
Just wondering if its possible to update numbers by inflation on specific dates. As an example, i'd like a loaf of bread at $1 to automatically adjust for a predetermined inflation rate on every Jan 1. I know i can make columns but I'd like only one specific cell to constantly update annually. Thanks
 

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Use Data, What-If Analysis, Goal Seek to find the correct input cell value to reach a desired result
A1 has the base price for say year 2010 and the predetermined inflation rate is 5%

This updates every year on Jan 1st

=FV(5%,YEAR(TODAY())-2010,0,-A1)
 
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