What is the value in today's dollars of $1,200.00 in 2023?

Question

I am to receive a monthly payment in 2023 of $1,200/month. I would like to know the value of this payment in today's dollars.

Answer 1

Presuming historical inflation rates of 4%, then it is worth 640.69 however that amount declines each year in value as time passes.

If we were to enter a high inflation period, say five years from now, of say 8% then it would be worth 493.40 in todays dollars.

Answer 2

not that much.. probably worth like 2/3 of it...
the price of money goes down... because the quality of living has increased.