Commodities priced at $20 in 2023 $19.99 in 2024

Commodities Inflation Calculator

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Prices for Commodities, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for commodities are 0.04% lower in 2024 versus 2023 (a $0.01 difference in value).

Between 2023 and 2024: Commodities experienced an average inflation rate of -0.04% per year. In other words, commodities costing $20 in the year 2023 would cost $19.99 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.44% during this same period, inflation for commodities was lower.

In the year 2023: Pricing changed by 1.16%, which is above the average yearly change for commodities during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), 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%).

View price changes for other categories
Fish and seafood · Philadelphia, Pennsylvania · Airline fares · Film and photographic supplies · More

Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Commodities, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2023$20.001.16%
2024$19.99-0.04%*

* 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:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI14.87515.06715.72015.04014.78014.92016.08018.40019.94020.12020.72023.28027.72029.58028.72029.12031.72031.96031.86031.56031.30031.57732.57733.31533.35433.60833.83834.10034.43834.76935.18536.09236.76938.10839.85441.70843.16944.46947.75453.47758.23860.73864.22368.77776.63185.99293.21596.97799.838103.208105.377104.369107.723111.492116.700122.785126.623129.115131.508133.754136.431139.892141.838141.923144.431149.185150.654149.723151.185154.738160.162164.000167.509174.764169.698174.566183.862187.577187.670187.943181.703179.236181.242184.617185.266184.799199.227220.936223.492223.401

Adjust commodities prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Commodities was 223.492 in the year 2023 and 223.401 in 2024:

223.401 / 223.492 * $20 = $19.99

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $19.99 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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