Energy commodities priced at $20 in 2008 $20.98 in 2024

Energy Commodities Inflation Calculator


Prices for Energy Commodities, 2008-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for energy commodities are 4.90% higher in 2024 versus 2008 (a $0.98 difference in value).

Between 2008 and 2024: Energy commodities experienced an average inflation rate of 0.30% per year. In other words, energy commodities costing $20 in the year 2008 would cost $20.98 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.31% during this same period, inflation for energy commodities was lower.

In the year 2008: Pricing changed by 17.98%, which is significantly above the average yearly change for energy commodities during the 2008-2024 time period. Compared to inflation for all items in 2008 (3.84%), 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 2008

Below are calculations of equivalent buying power for Energy commodities, over time, for $20 beginning in 2008. 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 Energy commodities:


Adjust energy commodities prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2008 * 2008 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Energy commodities was 284.352 in the year 2008 and 298.285 in 2024:

298.285 / 284.352 * $20 = $20.98

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2008 has the same "purchasing power" as $20.98 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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