Commodities priced at $20 in 2018 $24.15 in 2024

Commodities Inflation Calculator


Prices for Commodities, 2018-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for commodities are 20.75% higher in 2024 versus 2018 (a $4.15 difference in value).

Between 2018 and 2024: Commodities experienced an average inflation rate of 3.19% per year. This rate of change indicates significant inflation. In other words, commodities costing $20 in the year 2018 would cost $24.15 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.64% during this same period, inflation for commodities was lower.

In the year 2018: Pricing changed by 1.86%, which is below the average yearly change for commodities during the 2018-2024 time period. Compared to inflation for all items in 2018 (2.44%), inflation for commodities was lower.

Price Inflation for Commodities since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1947 (19.07%), 1942 (14.43%), and 1946 (12.36%).

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Buying power of $20.00 since 2018

Below are calculations of equivalent buying power for Commodities, over time, for $20 beginning in 2018. 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:


Adjust commodities prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2018 * 2018 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Commodities was 184.617 in the year 2018 and 222.916 in 2024:

222.916 / 184.617 * $20 = $24.15

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2018 has the same "purchasing power" as $24.15 in 2024 (in the CPI category of Commodities).

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

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