Checking account and other bank services inflation, 1997–2026

Prices are 92.71% higher than in 1997, according to the Bureau of Labor Statistics. This index measures price changes; it does not report an average dollar price.

Checking Account And Other Bank Services Inflation Calculator

Enter a starting cost to estimate an equivalent purchase using the category CPI. This is a hypothetical calculation, not an observed retail price.

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Prices for Checking Account And Other Bank Services, 1997-2026 ($20)

According to the U.S. Bureau of Labor Statistics, prices for checking account and other bank services are 92.71% higher in 2026 versus 1997 (a $18.54 difference in value).

The dollar amounts in this section illustrate the category CPI calculation; they are not a series of observed prices.

Between 1997 and 2026:Checking account and other bank services experienced an average inflation rate of 2.29% per year. This rate of change indicates significant inflation. In other words, checking account and other bank services costing $20 in the year 1997 would cost $38.54 in 2026 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for checking account and other bank services was lower.

Price Inflation for Checking account and other bank services since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2018 (8.33%), 2012 (6.75%), and 2024 (5.75%).
View price changes for other categories
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Buying power of $20.00 since 1997

Below are calculations of equivalent buying power for Checking account and other bank services, over time, for $20 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1997$20.00-
1998$20.241.17%
1999$20.873.15%
2000$21.834.58%
2001$22.734.14%
2002$23.382.83%
2003$23.841.97%
2004$24.492.76%
2005$24.771.12%
2006$25.051.14%
2007$25.551.98%
2008$25.931.51%
2009$24.66-4.91%
2010$25.523.48%
2011$26.092.24%
2012$27.856.75%
2013$29.004.12%
2014$29.501.73%
2015$29.901.36%
2016$30.792.97%
2017$31.472.21%
2018$34.098.33%
2019$34.481.14%
2020$34.550.20%
2021$33.61-2.71%
2022$34.893.80%
2023$35.662.21%
2024$37.715.75%
2025$38.522.15%
2026$38.540.06%*

* 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 Checking account and other bank services:

Year199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026
CPI100.000101.175104.358109.142113.658116.875119.175122.458123.833125.250127.727129.650123.287127.584130.442139.248144.985147.486149.496153.937157.345170.447172.384172.735168.057174.439178.293188.539192.586192.708

Adjust checking account and other bank services prices for inflation

Start with the inflation rate formula:

CPI in 2026 / CPI in 1997* 1997 USD value = 2026 USD value

Then plug in historical CPI values from above. The CPI for Checking account and other bank services was 100.000 in the year 1997 and 192.708 in 2026:

192.708 / 100.000* $20 = $38.54

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1997 has the same "purchasing power" as $38.54 in 2026 (in the CPI category of Checking account and other bank services).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Checking account and other bank services in 1997. In addition to checking account and other bank services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.