According to the U.S. Bureau of Labor Statistics, prices for energy were 477.97% higher in 2018 versus 1974 (a $28,678,435.42 difference in value).
Between 1974 and 2018: Energy experienced an average inflation rate of 4.07% per year. This rate of change indicates significant inflation. In other words, energy costing $6,000,000 in the year 1974 would cost $34,678,435.42 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation for energy was higher.
In the year 1974: Pricing changed by 29.23%, which is significantly above the average yearly change for energy during the 1974-2018 time period. Compared to inflation for all items in 1974 (11.05%), inflation for energy was much higher.
Below are calculations of equivalent buying power for Energy, over time, for $6,000,000 beginning in 1974. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1974 | $6,000,000.00 | 29.23% |
1975 | $6,636,749.55 | 10.61% |
1976 | $7,112,189.21 | 7.16% |
1977 | $7,787,750.15 | 9.50% |
1978 | $8,282,595.51 | 6.35% |
1979 | $10,365,069.74 | 25.14% |
1980 | $13,564,584.60 | 30.87% |
1981 | $15,406,913.28 | 13.58% |
1982 | $15,633,717.40 | 1.47% |
1983 | $15,755,003.03 | 0.78% |
1984 | $15,912,674.35 | 1.00% |
1985 | $16,024,257.13 | 0.70% |
1986 | $13,911,461.49 | -13.18% |
1987 | $13,967,252.88 | 0.40% |
1988 | $14,072,771.38 | 0.76% |
1989 | $14,870,830.81 | 5.67% |
1990 | $16,097,028.50 | 8.25% |
1991 | $16,154,032.75 | 0.35% |
1992 | $16,240,145.54 | 0.53% |
1993 | $16,422,073.98 | 1.12% |
1994 | $16,496,058.22 | 0.45% |
1995 | $16,593,086.72 | 0.59% |
1996 | $17,364,463.31 | 4.65% |
1997 | $17,582,777.44 | 1.26% |
1998 | $16,220,739.84 | -7.75% |
1999 | $16,810,187.99 | 3.63% |
2000 | $19,647,058.82 | 16.88% |
2001 | $20,385,688.30 | 3.76% |
2002 | $19,184,960.58 | -5.89% |
2003 | $21,520,921.77 | 12.18% |
2004 | $23,870,224.38 | 10.92% |
2005 | $27,916,312.92 | 16.95% |
2006 | $31,039,417.83 | 11.19% |
2007 | $32,751,995.15 | 5.52% |
2008 | $37,315,476.05 | 13.93% |
2009 | $30,450,466.95 | -18.40% |
2010 | $33,339,442.09 | 9.49% |
2011 | $38,457,465.13 | 15.35% |
2012 | $38,799,818.07 | 0.89% |
2013 | $38,536,361.43 | -0.68% |
2014 | $38,406,112.80 | -0.34% |
2015 | $31,990,721.65 | -16.70% |
2016 | $29,884,220.74 | -6.58% |
2017 | $32,250,054.58 | 7.92% |
2018 | $34,678,435.42 | 7.53% |
2019 | $33,945,700.42 | -2.11% |
2020 | $31,053,256.52 | -8.52% |
2021 | $37,576,992.12 | 21.01% |
2022 | $47,027,944.21 | 25.15% |
2023 | $44,666,015.77 | -5.02% |
2024 | $43,714,530.02 | -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 |