diff --git a/cmd/cli/config.go b/cmd/cli/config.go
index eefb45c..da8c73b 100644
--- a/cmd/cli/config.go
+++ b/cmd/cli/config.go
@@ -1,9 +1,11 @@
 package cli
 
 type Config struct {
-	Files FileList
-	BPI   string
-	Query struct {
+	Files   FileList
+	BPI     string
+	CPI     string
+	CPIYear int
+	Query   struct {
 		Period       Period
 		Sort         string
 		NoRounding   bool
diff --git a/cmd/cli/main.go b/cmd/cli/main.go
index 868164d..9d3c680 100644
--- a/cmd/cli/main.go
+++ b/cmd/cli/main.go
@@ -30,6 +30,8 @@ func Main() {
 	fs.BoolVar(&config.Query.USDOnly, "usd", false, "filter to usd")
 	fs.BoolVar(&config.Query.NoExchanging, "no-exchanging", true, "omit currency exchanges")
 	fs.StringVar(&config.BPI, "bpi", "", "path to bpi")
+	fs.StringVar(&config.CPI, "cpi", "", "path to cpi")
+	fs.IntVar(&config.CPIYear, "cpiy", 0, "use cpi to convert usd to this year's value")
 	if err := fs.Parse(os.Args[1:]); err != nil {
 		panic(err)
 	}
@@ -89,6 +91,23 @@ func Main() {
 		bpis = b
 	}
 
+	cpiNormalizer := ana.NewNormalizer()
+	if config.CPI != "" && config.CPIYear > 0 {
+		c, err := ledger.NewBPIs(config.CPI)
+		if err != nil {
+			panic(err)
+		}
+		cpi := c["CPI"]
+		cpiy := cpi.Lookup(fmt.Sprintf("%d-06-01", config.CPIYear))
+		if cpiy == nil {
+			panic(fmt.Errorf("no cpi for year %d", config.CPIYear))
+		}
+
+		for date, value := range cpi {
+			cpiNormalizer = cpiNormalizer.With(".*", date, value/(*cpiy))
+		}
+	}
+
 	if config.Query.Normalize {
 		deltas = ana.NewDefaultNormalizer().Normalize(deltas)
 	}
@@ -113,13 +132,14 @@ func Main() {
 			WithBPIs(bpis).
 			KindaLike(q).
 			KindaGroup(group).
-			Nonzero()
+			Nonzero().
+			Normalize(cpiNormalizer, "9")
 		FPrintBalances(w, "", balances, nil, config.Query.USDOnly, config.Query.Normalize, time.Now().Format("2006-01-02"), false, maxAccW)
 	case "reg":
 		transactions := deltas.Transactions()
 		cumulative := make(ledger.Balances)
 		for _, transaction := range transactions {
-			balances := ledger.Deltas(transaction).Like(q).Group(group).Balances().WithBPIsAt(bpis, transaction[0].Date).Nonzero()
+			balances := ledger.Deltas(transaction).Like(q).Group(group).Balances().WithBPIsAt(bpis, transaction[0].Date).Nonzero().Normalize(cpiNormalizer, transaction[0].Date)
 			shouldPrint := false
 			shouldPrint = shouldPrint || len(balances) > 2
 			if config.Query.NoExchanging {
@@ -220,7 +240,7 @@ func FPrintBalances(w io.Writer, linePrefix string, balances, cumulatives ledger
 			if !normalized {
 				fmt.Fprintf(w, format, printableKey, printableCurrency, balances[key][currency], printableCurrency, cumulative)
 			} else {
-				factor := normalizer.NormalizeFactor(ledger.Delta{Name: key, Date: date})
+				factor := normalizer.NormalizeFactor(key, date)
 				trailingMax := maxes[currency] - math.Abs(balances[key][currency])
 				fmt.Fprintf(w, format, printableKey, printableCurrency, balances[key][currency], printableCurrency, cumulative, cumulative*factor, factor, printableCurrency, factor*trailingMax)
 			}
diff --git a/cmd/http/router.go b/cmd/http/router.go
index e1a18c4..aa6ce18 100644
--- a/cmd/http/router.go
+++ b/cmd/http/router.go
@@ -135,7 +135,7 @@ func (router Router) APITransactions(w http.ResponseWriter, r *http.Request) {
 			v := normalized[k]
 			if v := math.Abs(v["$"]); v < biggest {
 				normalizedDelta := biggest - v
-				normalizedFactor := normalizer.NormalizeFactor(ledger.Delta{Name: k, Date: time.Now().Format("2006-01-02")})
+				normalizedFactor := normalizer.NormalizeFactor(k, time.Now().Format("2006-01-02"))
 				normalized[fmt.Sprintf(`(%s trailing $)`, k)] = ledger.Balance{"$": normalizedDelta * normalizedFactor}
 			}
 		}
diff --git a/src/ana/normalize.go b/src/ana/normalize.go
index ebbe6c8..0bbb578 100644
--- a/src/ana/normalize.go
+++ b/src/ana/normalize.go
@@ -68,15 +68,15 @@ func (n Normalizer) Normalize(deltas ledger.Deltas) ledger.Deltas {
 }
 
 func (n Normalizer) NormalizeDelta(delta ledger.Delta) ledger.Delta {
-	delta.Value /= n.NormalizeFactor(delta)
+	delta.Value /= n.NormalizeFactor(delta.Name, delta.Date)
 	return delta
 }
 
-func (n Normalizer) NormalizeFactor(delta ledger.Delta) float64 {
+func (n Normalizer) NormalizeFactor(name, date string) float64 {
 	for pattern := range n.m {
-		if regexp.MustCompile(pattern).MatchString(delta.Name) {
+		if regexp.MustCompile(pattern).MatchString(name) {
 			for _, normalize := range n.m[pattern] {
-				if normalize.startDate < delta.Date {
+				if normalize.startDate < date {
 					return normalize.factor
 				}
 			}
diff --git a/src/ledger/balances.go b/src/ledger/balances.go
index 8ad1eb0..d2f374e 100644
--- a/src/ledger/balances.go
+++ b/src/ledger/balances.go
@@ -9,6 +9,10 @@ import (
 	"time"
 )
 
+type Normalizer interface {
+	NormalizeFactor(string, string) float64
+}
+
 type Balances map[string]Balance
 
 type Balance map[Currency]float64
@@ -246,3 +250,14 @@ func (balance Balance) Debug() string {
 	}
 	return strings.Join(result, " + ")
 }
+
+func (balances Balances) Normalize(n Normalizer, date string) Balances {
+	result := make(Balances)
+	for name, balance := range balances {
+		result[name] = make(Balance)
+		for currency, value := range balance {
+			result[name][currency] = value / n.NormalizeFactor(name, date)
+		}
+	}
+	return result
+}