Getting
ready to renew a contract in June 2023? You will need to take the last 12
months of data to determine the CPI number that should be applied to the
current contract. In the example below, the
latest value we have is May 2023; therefore, we will be using the 2023 May CPI
of 304.1 and the 2022 May CPI of 292.3. Note that the CPI chart values are typically a month or two behind, so the latest value may not align with the renewal month.
Follow along with this example:
Enter the older value 292.3 and newer value 304.1 in the inputs below and click Calculate CPI. The result will be displayed below. For this example, You would adjust the values in the current contract by 4.04% to get the new values that is keeping up with the market adjustments.
