Core inflation priced at $20 in 2003 $30.04 in 2022

Core Inflation Inflation Calculator

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Prices for Core Inflation, 2003-2022 ($20)

According to the U.S. Bureau of Labor Statistics, prices for all items less food and energy are 50.21% higher in 2022 versus 2003 (a $10.04 difference in value).

Between 2003 and 2022: Core inflation experienced an average inflation rate of 2.16% per year. This rate of change indicates significant inflation. In other words, core inflation costing $20 in the year 2003 would cost $30.04 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.39% during this same period, inflation for core inflation was lower.

In the year 2003: Pricing changed by 1.45%, which is below the average yearly change for core inflation during the 2003-2022 time period. Compared to inflation for all items in 2003 (2.27%), inflation for core inflation was lower.

Price Inflation for All items less food and energy since 1957

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (12.42%), 1981 (10.46%), and 1979 (9.74%).

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Buying power of $20.00 since 2003

Below are calculations of equivalent buying power for Core inflation, over time, for $20 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2003$20.001.45%
2004$20.351.76%
2005$20.792.17%
2006$21.312.50%
2007$21.812.34%
2008$22.312.30%
2009$22.691.70%
2010$22.910.96%
2011$23.291.66%
2012$23.782.11%
2013$24.201.76%
2014$24.621.75%
2015$25.071.83%
2016$25.632.21%
2017$26.101.84%
2018$26.662.14%
2019$27.242.19%
2020$27.711.70%
2021$28.703.57%
2022$30.044.68%*
* Not final. See inflation summary for latest details.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for All items less food and energy:

Year195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI28.93129.59230.18530.63830.98531.40831.80032.27732.73833.53834.70836.31538.42340.82342.73844.04645.58549.34653.89257.43161.02365.48571.86280.78589.23895.84699.615104.546109.115113.523118.200123.415128.977135.462142.108147.308152.177156.515161.200165.562169.508173.385176.985181.292186.131190.454193.223196.623200.892205.915210.729215.572219.235221.337225.008229.755233.806237.897242.247247.602252.169257.565263.211267.693277.255290.232

Adjust core inflation prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 2003 * 2003 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for All items less food and energy was 193.223 in the year 2003 and 290.232 in 2022:

290.232 / 193.223 * $20 = $30.04

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2003 has the same "purchasing power" as $30.04 in 2022 (in the CPI category of All items less food and energy).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for All items less food and energy in 1957. In addition to core inflation, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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