Energy commodities priced at $20 in 2004 → $38.57 in 2024

Energy Commodities Inflation Calculator

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Prices for Energy Commodities, 2004-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for energy commodities are 92.83% higher in 2024 versus 2004 (a $18.57 difference in value).

Between 2004 and 2024: Energy commodities experienced an average inflation rate of 3.34% per year. This rate of change indicates significant inflation. In other words, energy commodities costing $20 in the year 2004 would cost $38.57 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for energy commodities was higher.

In the year 2004: Pricing changed by 17.93%, which is significantly above the average yearly change for energy commodities during the 2004-2024 time period. Compared to inflation for all items in 2004 (2.68%), inflation for energy commodities was much higher.

Price Inflation for Energy commodities since 1957

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (38.52%), 1974 (38.51%), and 2021 (35.39%).
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Buying power of $20.00 since 2004

Below are calculations of equivalent buying power for Energy commodities, over time, for $20 beginning in 2004. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2004$20.0017.93%
2005$24.5022.49%
2006$27.6712.94%
2007$29.918.09%
2008$35.2817.98%
2009$25.47-27.81%
2010$30.1118.20%
2011$38.0326.30%
2012$39.213.12%
2013$38.14-2.73%
2014$36.84-3.41%
2015$26.89-27.01%
2016$23.77-11.59%
2017$26.8412.89%
2018$30.5513.84%
2019$29.45-3.59%
2020$24.67-16.26%
2021$33.3935.39%
2022$44.3632.85%
2023$39.60-10.73%
2024$38.57-2.62%*

* 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 Energy commodities:

Year19571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI21.59221.26921.51521.89221.88521.98522.08521.93122.60023.15423.93124.42325.18525.59226.11526.45429.14640.36943.35445.36248.70050.96968.70895.177107.592102.90098.97798.15498.16277.20880.16280.76287.931101.19299.08598.27797.33197.59298.823105.708105.73892.092100.023129.485125.208117.138136.677161.177197.431222.977241.018284.352205.281242.636306.445315.999307.373296.900216.714191.589216.285246.210237.363198.779269.119357.530319.154310.790

Adjust energy commodities prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2004 * 2004 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Energy commodities was 161.177 in the year 2004 and 310.790 in 2024:

310.790 / 161.177 * $20 = $38.57

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2004 has the same "purchasing power" as $38.57 in 2024 (in the CPI category of Energy commodities).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Energy commodities in 1957. In addition to energy 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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