Commodities less food and energy commodities price inflation, 2021→2024

Commodities Less Food And Energy Commodities Inflation Calculator

Prices for Commodities Less Food And Energy Commodities, 2021-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for commodities less food and energy commodities are 7.66% higher in 2024 versus 2021 (a $1.53 difference in value).

Between 2021 and 2024: Commodities less food and energy commodities experienced an average inflation rate of 2.49% per year. This rate of change indicates significant inflation. In other words, commodities less food and energy commodities costing $20 in the year 2021 would cost $21.53 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.83% during this same period, inflation for commodities less food and energy commodities was lower.

In the year 2021: Pricing changed by 6.35%, which is significantly above the average yearly change for commodities less food and energy commodities during the 2021-2024 time period. Compared to inflation for all items in 2021 (4.70%), inflation for commodities less food and energy commodities was higher.

Price Inflation for Commodities less food and energy commodities since 1957

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

Years with the largest changes in pricing: 1980 (9.42%), 1975 (9.38%), and 1979 (8.40%).

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Buying power of $20.00 since 2021

Below are calculations of equivalent buying power for Commodities less food and energy commodities, over time, for $20 beginning in 2021. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2021	$20.00	6.35%
2022	$21.52	7.62%
2023	$21.72	0.89%
2024	$21.53	-0.84%*

* 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 energy commodities:

Year	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	37.369	37.846	38.369	38.515	38.631	38.946	39.200	39.623	39.792	40.292	41.254	42.846	44.731	46.700	48.523	49.677	51.062	54.969	60.123	63.200	66.469	70.438	76.354	83.546	89.962	95.346	100.208	104.423	107.154	108.592	111.800	115.754	119.608	123.638	128.762	132.454	135.231	137.138	139.315	141.285	142.331	143.154	144.138	144.862	145.285	143.692	140.877	139.569	140.285	140.638	140.053	140.246	142.041	143.588	145.499	147.331	147.279	146.770	146.080	145.396	144.377	144.051	144.361	144.571	153.757	165.479	166.947	165.540

Adjust commodities less food and energy commodities prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2021 * 2021 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Commodities less food and energy commodities was 153.757 in the year 2021 and 165.540 in 2024:

165.540 / 153.757 * $20 = $21.53

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2021 has the same "purchasing power" as $21.53 in 2024 (in the CPI category of Commodities less food and energy commodities).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Commodities less food and energy commodities in 1957. In addition to commodities less food and energy commodities, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.