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S&P500 Inflation Adjusted Price History
" Historical S&P500 Real Price Chart "
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Historical Prices of Standard and Poor's 500 Index adjusted for inflation

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March 5, 2013:  This chart1 shows what the S&P500 index looks like when adjusted for inflation.

Historical Shiller CAPE (Cyclically Adjusted Price Earnings) Ratio             Earnings) ratio

Robert Shiller writes of the data:
  • Stock market data used in my book, Irrational Exuberance: (Second Edition)
  • This data set consists of monthly stock price, dividends, and earnings data and the consumer price index (to allow conversion to real values), all starting January 1871.
  • The price, dividend, and earnings series are from the same sources as described in Chapter 26 of my earlier book, Market Volatility, although now I use monthly data, rather than annual data.
  • Stock price data are monthly averages of daily closing prices through January 2000, the last month available as this book goes to press.
  • The CPI-U (Consumer Price Index-All Urban Consumers) published by the U.S. Bureau of Labor Statistics begins in 1913; for years before 1913, I spliced to the CPI Warren and Pearson's price index, by multiplying it by the ratio of the indexes in January 1913. December 1999 and January 2000 values for the CPI-U are extrapolated. See George F. Warren and Frank A. Pearson, Gold and Prices (New York: John Wiley and Sons, 1935). Data are from their Table 1, pp. 11–14.


Note 1.  Source or Raw Data: or Irrational Exuberance: (Second Edition)
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