Energy commodities priced at $20 in 2016 $32.44 in 2024

Energy Commodities Inflation Calculator


Prices for Energy Commodities, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for energy commodities are 62.22% higher in 2024 versus 2016 (a $12.44 difference in value).

Between 2016 and 2024: Energy commodities experienced an average inflation rate of 6.23% per year. This rate of change indicates significant inflation. In other words, energy commodities costing $20 in the year 2016 would cost $32.44 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.34% during this same period, inflation for energy commodities was higher.

In the year 2016: Pricing changed by -11.59%, which is significantly below the average yearly change for energy commodities during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for energy commodities was much lower.

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 2016

Below are calculations of equivalent buying power for Energy commodities, over time, for $20 beginning in 2016. 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 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Energy commodities was 191.589 in the year 2016 and 310.790 in 2024:

310.790 / 191.589 * $20 = $32.44

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $32.44 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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