Apparel less footwear price inflation, 2023→2024

Apparel Less Footwear Inflation Calculator

Prices for Apparel Less Footwear, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for apparel less footwear are 1.05% higher in 2024 versus 2023 (a $0.21 difference in value).

Between 2023 and 2024: Apparel less footwear experienced an average inflation rate of 1.05% per year. In other words, apparel less footwear costing $20 in the year 2023 would cost $20.21 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.89% during this same period, inflation for apparel less footwear was lower.

In the year 2023: Pricing changed by 3.42%, which is above the average yearly change for apparel less footwear during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for apparel less footwear was lower.

Price Inflation for Apparel less footwear since 1947

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1951 (8.03%), 1974 (7.24%), and 1948 (5.96%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Apparel less footwear, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	3.42%
2024	$20.21	1.05%*

* 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 Apparel less footwear:

Year	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	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	47.654	50.492	48.154	47.200	50.992	50.585	50.085	49.669	49.269	49.769	50.200	50.115	50.185	50.692	51.008	51.092	51.585	52.000	52.400	53.354	55.446	58.600	62.069	64.477	66.454	67.785	70.146	75.223	77.954	80.346	83.492	85.515	87.862	93.038	96.446	98.131	100.254	101.585	104.338	104.692	109.600	114.400	117.115	122.808	127.431	130.215	131.908	131.177	129.269	128.477	129.423	129.338	127.785	126.192	123.608	120.115	116.762	116.315	114.423	114.131	113.848	113.358	114.172	113.272	116.234	120.403	121.068	121.059	118.807	118.866	118.496	118.693	116.601	110.241	112.542	118.375	122.422	123.703

Adjust apparel less footwear prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Apparel less footwear was 122.422 in the year 2023 and 123.703 in 2024:

123.703 / 122.422 * $20 = $20.21

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.21 in 2024 (in the CPI category of Apparel less footwear).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Apparel less footwear in 1947. In addition to apparel less footwear, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.