According to the U.S. Bureau of Labor Statistics, prices for all items less food, shelter, energy, and used cars and trucks are 17.30% higher in 2023 versus 2016 (a $3.46 difference in value).
Between 2016 and 2023: All items less food, shelter, energy, and used cars and trucks experienced an average inflation rate of 2.31% per year. This rate of change indicates significant inflation. In other words, all items less food, shelter, energy, and used cars and trucks costing $20 in the year 2016 would cost $23.46 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.24% during this same period, inflation for all items less food, shelter, energy, and used cars and trucks was lower.
In the year 2016: Pricing changed by 1.51%, which is below the average yearly change for all items less food, shelter, energy, and used cars and trucks during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation for all items less food, shelter, energy, and used cars and trucks was higher.
Below are calculations of equivalent buying power for All items less food, shelter, energy, and used cars and trucks, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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 All items less food, shelter, energy, and used cars and trucks: