Apparel services other than laundry and dry cleaning price inflation, 2022→2023

Apparel Services Other Than Laundry And Dry Cleaning Inflation Calculator

Prices for Apparel Services Other Than Laundry And Dry Cleaning, 2022-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for apparel services other than laundry and dry cleaning are 10.33% higher in 2023 versus 2022 (a $2.07 difference in value).

Between 2022 and 2023: Apparel services other than laundry and dry cleaning experienced an average inflation rate of 10.33% per year. This rate of change indicates significant inflation. In other words, apparel services other than laundry and dry cleaning costing $20 in the year 2022 would cost $22.07 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.97% during this same period, inflation for apparel services other than laundry and dry cleaning was significantly higher.

In the year 2022: Pricing changed by 10.08%, which is below the average yearly change for apparel services other than laundry and dry cleaning during the 2022-2023 time period. Compared to inflation for all items in 2022 (8%), inflation for apparel services other than laundry and dry cleaning was higher.

Price Inflation for Apparel services other than laundry and dry cleaning since 1997

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

Years with the largest changes in pricing: 2023 (10.33%), 2022 (10.08%), and 2008 (6.49%).

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Buying power of $20.00 since 2022

Below are calculations of equivalent buying power for Apparel services other than laundry and dry cleaning, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2022	$20.00	10.08%
2023	$22.07	10.33%*

* 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 services other than laundry and dry cleaning:

Year	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
CPI	100.000	101.000	103.192	106.423	111.408	113.992	116.638	120.662	126.277	131.762	136.904	145.787	152.456	157.841	163.759	168.737	174.356	178.025	181.616	184.725	186.915	189.112	197.817	207.542	211.995	233.361	257.468

Adjust apparel services other than laundry and dry cleaning prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2022 * 2022 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Apparel services other than laundry and dry cleaning was 233.361 in the year 2022 and 257.468 in 2023:

257.468 / 233.361 * $20 = $22.07

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $22.07 in 2023 (in the CPI category of Apparel services other than laundry and dry cleaning).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Apparel services other than laundry and dry cleaning in 1997. In addition to apparel services other than laundry and dry cleaning, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.