Commodities less food, energy, and used cars and trucks price inflation, 1998→2023

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

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:

Year	USD Value	Inflation Rate
1998	$20.00	0.60%
1999	$20.13	0.65%
2000	$20.20	0.34%
2001	$20.23	0.14%
2002	$20.07	-0.77%
2003	$19.76	-1.57%
2004	$19.67	-0.41%
2005	$19.70	0.10%
2006	$19.74	0.25%
2007	$19.71	-0.19%
2008	$19.76	0.27%
2009	$20.12	1.85%
2010	$20.14	0.08%
2011	$20.35	1.03%
2012	$20.61	1.30%
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	$20.30	0.11%
2020	$20.24	-0.30%
2021	$20.91	3.30%
2022	$22.33	6.80%
2023	$22.97	2.88%*

* 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:

Year	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
CPI	42.777	44.392	46.469	48.631	50.508	51.754	53.100	57.262	62.300	65.108	68.308	72.500	78.615	86.477	91.892	96.485	100.585	102.931	105.946	108.631	112.215	116.115	120.062	124.500	129.877	133.523	135.885	137.500	139.000	141.062	142.500	143.354	144.285	144.777	144.977	143.862	141.600	141.023	141.169	141.523	141.251	141.633	144.246	144.357	145.841	147.742	147.730	147.255	146.679	146.259	145.751	145.346	145.502	145.063	149.854	160.039	164.649

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.