Commodities less food and beverages price inflation, 2016→2024

Commodities Less Food And Beverages Inflation Calculator

Prices for Commodities Less Food And Beverages, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for commodities less food and beverages are 20.34% higher in 2024 versus 2016 (a $4.07 difference in value).

Between 2016 and 2024: Commodities less food and beverages experienced an average inflation rate of 2.34% per year. This rate of change indicates significant inflation. In other words, commodities less food and beverages costing $20 in the year 2016 would cost $24.07 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for commodities less food and beverages was lower.

In the year 2016: Pricing changed by -2.53%, which is significantly below the average yearly change for commodities less food and beverages during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for commodities less food and beverages was much lower.

Price Inflation for Commodities less food and beverages since 1967

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

Years with the largest changes in pricing: 1980 (13.92%), 1979 (11.77%), and 2022 (11.76%).

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Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Commodities less food and beverages, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2016	$20.00	-2.53%
2017	$20.26	1.28%
2018	$20.68	2.11%
2019	$20.57	-0.56%
2020	$20.04	-2.54%
2021	$22.15	10.51%
2022	$24.76	11.76%
2023	$24.40	-1.45%
2024	$24.07	-1.35%*

* 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 and beverages:

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	2024
CPI	38.300	39.708	41.408	43.115	44.738	45.762	47.354	52.438	57.292	60.231	63.585	67.308	75.231	85.700	93.138	96.885	99.992	103.115	105.200	101.385	104.038	107.300	111.577	117.031	120.392	123.192	125.292	126.885	128.854	131.477	132.177	130.515	132.515	137.669	137.192	134.162	134.508	136.738	142.454	145.885	147.515	153.034	144.395	150.392	159.943	162.745	161.484	159.568	149.153	145.373	147.234	150.338	149.490	145.692	161.012	179.940	177.334	174.943

Adjust commodities less food and beverages prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Commodities less food and beverages was 145.373 in the year 2016 and 174.943 in 2024:

174.943 / 145.373 * $20 = $24.07

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $24.07 in 2024 (in the CPI category of Commodities less food and beverages).

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