Commodities less food priced at $20 in 2016 $24.43 in 2023

Commodities Less Food Inflation Calculator


Prices for Commodities Less Food, 2016-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for commodities less food are 22.13% higher in 2023 versus 2016 (a $4.43 difference in value).

Between 2016 and 2023: Commodities less food experienced an average inflation rate of 2.90% per year. This rate of change indicates significant inflation. In other words, commodities less food costing $20 in the year 2016 would cost $24.43 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.40% during this same period, inflation for commodities less food was lower.

In the year 2016: Pricing changed by -2.37%, which is significantly below the average yearly change for commodities less food during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation for commodities less food was much lower.

Price Inflation for Commodities less food since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (13.81%), 1947 (12.59%), and 1979 (11.64%).

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Buying power of $20.00 since 2016

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

YearUSD ValueInflation Rate

* 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:


Adjust commodities less food prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2016 * 2016 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Commodities less food was 148.608 in the year 2016 and 181.495 in 2023:

181.495 / 148.608 * $20 = $24.43

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $24.43 in 2023 (in the CPI category of Commodities less food).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Commodities less food in 1935. In addition to commodities less food, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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