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Using 2012 as the base year, calculate the columns Inflation Adjustment to 2012 Dollars and Real Average Hourly Wage in 2012 Dollars for 2018. Year

Using 2012 as the base year, calculate the columns "Inflation Adjustment to "2012 Dollars" and "Real Average Hourly Wage in 2012 Dollars" for 2018.

Year

Consumer Price Index

Inflation Adjustment to "2012 Dollars"

Nominal Average Hourly Wage in Dollars

Real Average Hourly Wage in 2012 Dollars

2012 229.6 229.6/229.6 = 1 $23.24 $23.24
2018 250.5 $27.53 $

Sources: https://www.minneapolisfed.org/community/financial-and-economic-education/cpi-calculator-information/consumer-price-index-and-inflation-rates-1913; https://fred.stlouisfed.org/series/CES0500000003

The change in the "Real Average Hourly Wage in 2012 Dollars" is $???

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