Apparel price inflation, 2023→2024

Apparel Inflation Calculator

Prices for Apparel, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for apparel are 1.16% higher in 2024 versus 2023 (a $0.23 difference in value).

Between 2023 and 2024: Apparel experienced an average inflation rate of 1.16% per year. In other words, apparel costing $20 in the year 2023 would cost $20.23 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for apparel was lower.

In the year 2023: Pricing changed by 2.75%, which is above the average yearly change for apparel during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for apparel was lower.

Price Inflation for Apparel since 1913

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

Years with the largest changes in pricing: 1918 (39.39%), 1919 (27.69%), and 1921 (-26.11%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Apparel, 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	2.75%
2024	$20.23	1.16%*

* 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:

Year	1913	1914	1915	1916	1917	1918	1919	1920	1921	1922	1923	1924	1925	1926	1927	1928	1929	1930	1931	1932	1933	1934	1935	1936	1937	1938	1939	1940	1941	1942	1943	1944	1945	1946	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	14.900	15.000	15.450	17.350	21.200	29.550	37.733	42.800	31.625	26.860	27.100	26.760	26.300	25.833	25.267	24.967	24.667	24.067	21.600	19.200	19.067	20.667	20.800	21.033	22.140	21.860	21.620	21.814	22.815	26.700	27.854	29.808	31.346	34.392	39.862	42.508	40.831	40.285	43.923	43.454	43.169	43.023	42.885	43.746	44.500	44.669	45.023	45.700	46.062	46.315	46.885	47.285	47.738	49.015	51.015	53.738	56.831	59.177	61.092	62.354	64.638	69.431	72.523	75.238	78.608	81.369	84.931	90.938	95.277	97.777	100.192	102.038	105.023	105.915	110.577	115.377	118.585	124.085	128.708	131.877	133.662	133.400	131.962	131.700	132.854	133.023	131.292	129.577	127.269	124.023	120.877	120.431	119.538	119.454	118.998	118.907	120.078	119.503	122.111	126.265	127.411	127.514	125.903	126.045	125.612	125.654	124.052	118.079	120.993	127.081	130.579	132.090

Adjust apparel 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 was 130.579 in the year 2023 and 132.090 in 2024:

132.090 / 130.579 * $20 = $20.23

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.23 in 2024 (in the CPI category of Apparel).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Apparel in 1913. In addition to apparel, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.