According to the U.S. Bureau of Labor Statistics, prices for energy were 744.98% higher in 2016 versus 1960 (a $12,664,615.23 difference in value).
Between 1960 and 2016: Energy experienced an average inflation rate of 3.88% per year. This rate of change indicates significant inflation. In other words, energy costing $1,700,000 in the year 1960 would cost $14,364,615.23 in 2016 for an equivalent purchase. Compared to the overall inflation rate of 3.81% during this same period, inflation for energy was higher.
In the year 1960: Pricing changed by 2.42%, which is below the average yearly change for energy during the 1960-2016 time period. Compared to inflation for all items in 1960 (1.48%), inflation for energy was higher.
Below are calculations of equivalent buying power for Energy, over time, for $1,700,000 beginning in 1960. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1960 | $1,700,000.00 | 2.42% |
1961 | $1,704,663.92 | 0.27% |
1962 | $1,711,659.81 | 0.41% |
1963 | $1,714,574.76 | 0.17% |
1964 | $1,707,578.88 | -0.41% |
1965 | $1,739,060.36 | 1.84% |
1966 | $1,765,877.91 | 1.54% |
1967 | $1,806,687.24 | 2.31% |
1968 | $1,833,504.80 | 1.48% |
1969 | $1,880,727.02 | 2.58% |
1970 | $1,932,613.17 | 2.76% |
1971 | $2,008,984.91 | 3.95% |
1972 | $2,064,369.00 | 2.76% |
1973 | $2,231,687.24 | 8.11% |
1974 | $2,884,053.50 | 29.23% |
1975 | $3,190,123.46 | 10.61% |
1976 | $3,418,655.69 | 7.16% |
1977 | $3,743,381.34 | 9.50% |
1978 | $3,981,241.43 | 6.35% |
1979 | $4,982,235.94 | 25.14% |
1980 | $6,520,164.61 | 30.87% |
1981 | $7,405,727.02 | 13.58% |
1982 | $7,514,746.23 | 1.47% |
1983 | $7,573,045.27 | 0.78% |
1984 | $7,648,834.02 | 1.00% |
1985 | $7,702,469.14 | 0.70% |
1986 | $6,686,899.86 | -13.18% |
1987 | $6,713,717.42 | 0.40% |
1988 | $6,764,437.59 | 0.76% |
1989 | $7,148,045.27 | 5.67% |
1990 | $7,737,448.56 | 8.25% |
1991 | $7,764,849.11 | 0.35% |
1992 | $7,806,241.43 | 0.53% |
1993 | $7,893,689.99 | 1.12% |
1994 | $7,929,252.40 | 0.45% |
1995 | $7,975,891.63 | 0.59% |
1996 | $8,346,673.53 | 4.65% |
1997 | $8,451,611.80 | 1.26% |
1998 | $7,796,913.58 | -7.75% |
1999 | $8,080,246.91 | 3.63% |
2000 | $9,443,861.45 | 16.88% |
2001 | $9,798,902.61 | 3.76% |
2002 | $9,221,742.11 | -5.89% |
2003 | $10,344,581.62 | 12.18% |
2004 | $11,473,834.02 | 10.92% |
2005 | $13,418,689.99 | 16.95% |
2006 | $14,919,890.26 | 11.19% |
2007 | $15,743,084.36 | 5.52% |
2008 | $17,936,638.20 | 13.93% |
2009 | $14,636,795.95 | -18.40% |
2010 | $16,025,455.76 | 9.49% |
2011 | $18,485,564.47 | 15.35% |
2012 | $18,650,125.17 | 0.89% |
2013 | $18,523,488.00 | -0.68% |
2014 | $18,460,880.66 | -0.34% |
2015 | $15,377,158.78 | -16.70% |
2016 | $14,364,615.23 | -6.58% |
2017 | $15,501,813.79 | 7.92% |
2018 | $16,669,077.16 | 7.53% |
2019 | $16,316,869.34 | -2.11% |
2020 | $14,926,542.18 | -8.52% |
2021 | $18,062,342.59 | 21.01% |
2022 | $22,605,184.50 | 25.15% |
2023 | $21,469,863.17 | -5.02% |
2024 | $21,012,507.20 | -2.13%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Energy:
Year | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 21.477 | 21.531 | 21.900 | 22.431 | 22.492 | 22.585 | 22.623 | 22.531 | 22.946 | 23.300 | 23.838 | 24.192 | 24.815 | 25.500 | 26.508 | 27.238 | 29.446 | 38.054 | 42.092 | 45.108 | 49.392 | 52.531 | 65.738 | 86.031 | 97.715 | 99.154 | 99.923 | 100.923 | 101.631 | 88.231 | 88.585 | 89.254 | 94.315 | 102.092 | 102.454 | 103.000 | 104.154 | 104.623 | 105.238 | 110.131 | 111.515 | 102.877 | 106.615 | 124.608 | 129.292 | 121.677 | 136.492 | 151.392 | 177.054 | 196.862 | 207.723 | 236.666 | 193.126 | 211.449 | 243.909 | 246.080 | 244.409 | 243.583 | 202.895 | 189.535 | 204.540 | 219.941 | 215.294 | 196.949 | 238.325 | 298.266 | 283.286 | 277.251 |