Denver price inflation, 2016→2023

Inflation in Colorado

Prices in Denver, 2016-2023 ($116,865)

According to the U.S. Bureau of Labor Statistics, prices in Denver, Colorado are 29.86% higher in 2023 versus 2016 (a $34,900.34 difference in value).

Between 2016 and 2023: Denver experienced an average inflation rate of 3.80% per year. This rate of change indicates significant inflation. In other words, $116,865 in Denver in the year 2016 would cost $151,765.34 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation in Denver was higher.

In the year 2016: Pricing changed by 2.77%, which is below the average yearly change in Denver during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation in Denver was higher.

Price Inflation in Denver, Colorado since 1984

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

Years with the largest changes in pricing: 2022 (8.01%), 2023 (5.22%), and 2001 (4.68%).

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Buying power of $116,865.00 since 2016

Below are calculations of equivalent buying power in Denver, over time, for $116,865 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	$116,865.00	2.77%
2017	$120,822.37	3.39%
2018	$124,121.59	2.73%
2019	$126,510.13	1.92%
2020	$128,977.80	1.95%
2021	$133,544.50	3.54%
2022	$144,242.94	8.01%
2023	$151,765.34	5.22%*

* 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 Denver, Colorado:

Year	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
CPI	104.300	107.100	107.900	110.800	113.700	115.800	120.900	125.600	130.300	135.800	141.800	147.900	153.100	158.100	161.900	166.600	173.200	181.300	184.800	186.800	187.000	190.900	197.700	202.029	209.903	208.548	212.447	220.288	224.568	230.791	237.200	239.990	246.643	254.995	261.958	266.999	272.207	281.845	304.424	320.300

Adjust Denver 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 Denver, Colorado was 246.643 in the year 2016 and 320.300 in 2023:

320.300 / 246.643 * $116,865 = $151,765.34

Therefore, according to U.S. Bureau of Labor Statistics, $116,865 in 2016 has the same "purchasing power" as $151,765.34 in 2023 (in the CPI category of Denver, Colorado).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Denver, Colorado in 1984. In addition to Denver, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.