Commodities less food, energy, and used cars and trucks priced at $20 in 1998 $22.97 in 2023

Commodities Less Food, Energy, And Used Cars And Trucks Inflation Calculator

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Prices for Commodities Less Food, Energy, And Used Cars And Trucks, 1998-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for commodities less food, energy, and used cars and trucks are 14.85% higher in 2023 versus 1998 (a $2.97 difference in value).

Between 1998 and 2023: Commodities less food, energy, and used cars and trucks experienced an average inflation rate of 0.56% per year. In other words, commodities less food, energy, and used cars and trucks costing $20 in the year 1998 would cost $22.97 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for commodities less food, energy, and used cars and trucks was lower.

In the year 1998: Pricing changed by 0.60%, which is above the average yearly change for commodities less food, energy, and used cars and trucks during the 1998-2023 time period. Compared to inflation for all items in 1998 (1.55%), inflation for commodities less food, energy, and used cars and trucks was lower.

Price Inflation for Commodities less food, energy, and used cars and trucks since 1967

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (10%), 1975 (8.80%), and 1979 (8.44%).

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Buying power of $20.00 since 1998

Below are calculations of equivalent buying power for Commodities less food, energy, and used cars and trucks, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$20.000.60%
1999$20.130.65%
2000$20.200.34%
2001$20.230.14%
2002$20.07-0.77%
2003$19.76-1.57%
2004$19.67-0.41%
2005$19.700.10%
2006$19.740.25%
2007$19.71-0.19%
2008$19.760.27%
2009$20.121.85%
2010$20.140.08%
2011$20.351.03%
2012$20.611.30%
2013$20.61-0.01%
2014$20.54-0.32%
2015$20.46-0.39%
2016$20.41-0.29%
2017$20.33-0.35%
2018$20.28-0.28%
2019$20.300.11%
2020$20.24-0.30%
2021$20.913.30%
2022$22.336.80%
2023$22.972.88%*

* 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 Commodities less food, energy, and used cars and trucks:

Year196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI42.77744.39246.46948.63150.50851.75453.10057.26262.30065.10868.30872.50078.61586.47791.89296.485100.585102.931105.946108.631112.215116.115120.062124.500129.877133.523135.885137.500139.000141.062142.500143.354144.285144.777144.977143.862141.600141.023141.169141.523141.251141.633144.246144.357145.841147.742147.730147.255146.679146.259145.751145.346145.502145.063149.854160.039164.649

Adjust commodities less food, energy, and used cars and trucks prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1998 * 1998 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Commodities less food, energy, and used cars and trucks was 143.354 in the year 1998 and 164.649 in 2023:

164.649 / 143.354 * $20 = $22.97

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1998 has the same "purchasing power" as $22.97 in 2023 (in the CPI category of Commodities less food, energy, and used cars and trucks).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Commodities less food, energy, and used cars and trucks in 1967. In addition to commodities less food, energy, and used cars and trucks, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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