According to the U.S. Bureau of Labor Statistics, prices for energy services are 1,278.55% higher in 2024 versus 1940 (a $255.71 difference in value).
Between 1940 and 2024: Energy services experienced an average inflation rate of 3.17% per year. This rate of change indicates significant inflation. In other words, energy services costing $20 in the year 1940 would cost $275.71 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation for energy services was lower.
In the year 1940: Pricing changed by -0.82%, which is significantly below the average yearly change for energy services during the 1940-2024 time period. Compared to inflation for all items in 1940 (0.72%), inflation for energy services was lower.
Below are calculations of equivalent buying power for Energy services, over time, for $20 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1940 | $20.00 | -0.82% |
| 1941 | $19.82 | -0.88% |
| 1942 | $19.74 | -0.44% |
| 1943 | $19.63 | -0.56% |
| 1944 | $19.56 | -0.32% |
| 1945 | $19.41 | -0.77% |
| 1946 | $18.85 | -2.89% |
| 1947 | $18.80 | -0.29% |
| 1948 | $19.25 | 2.40% |
| 1949 | $19.76 | 2.67% |
| 1950 | $19.76 | 0.00% ** |
| 1951 | $19.86 | 0.48% |
| 1952 | $20.09 | 1.20% |
| 1953 | $20.51 | 2.09% |
| 1954 | $20.77 | 1.23% |
| 1955 | $21.29 | 2.52% |
| 1956 | $21.53 | 1.15% |
| 1957 | $21.74 | 0.96% |
| 1958 | $22.52 | 3.60% |
| 1959 | $23.08 | 2.49% |
| 1960 | $24.01 | 4.01% |
| 1961 | $24.19 | 0.76% |
| 1962 | $24.19 | 0.00% ** |
| 1963 | $24.18 | -0.03% |
| 1964 | $24.20 | 0.07% |
| 1965 | $24.16 | -0.16% |
| 1966 | $24.26 | 0.39% |
| 1967 | $24.35 | 0.39% |
| 1968 | $24.56 | 0.88% |
| 1969 | $25.02 | 1.87% |
| 1970 | $26.12 | 4.36% |
| 1971 | $27.93 | 6.94% |
| 1972 | $29.34 | 5.04% |
| 1973 | $30.77 | 4.88% |
| 1974 | $35.49 | 15.33% |
| 1975 | $41.29 | 16.37% |
| 1976 | $46.00 | 11.40% |
| 1977 | $51.95 | 12.92% |
| 1978 | $56.62 | 8.99% |
| 1979 | $62.77 | 10.86% |
| 1980 | $73.48 | 17.07% |
| 1981 | $84.21 | 14.60% |
| 1982 | $95.88 | 13.85% |
| 1983 | $104.38 | 8.87% |
| 1984 | $108.39 | 3.84% |
| 1985 | $110.20 | 1.67% |
| 1986 | $108.76 | -1.31% |
| 1987 | $106.82 | -1.78% |
| 1988 | $107.64 | 0.77% |
| 1989 | $110.64 | 2.78% |
| 1990 | $112.48 | 1.67% |
| 1991 | $115.84 | 2.99% |
| 1992 | $118.09 | 1.94% |
| 1993 | $121.91 | 3.24% |
| 1994 | $122.67 | 0.62% |
| 1995 | $122.61 | -0.05% |
| 1996 | $125.58 | 2.42% |
| 1997 | $128.66 | 2.46% |
| 1998 | $124.73 | -3.06% |
| 1999 | $124.34 | -0.32% |
| 2000 | $131.72 | 5.94% |
| 2001 | $146.51 | 11.23% |
| 2002 | $138.28 | -5.62% |
| 2003 | $149.21 | 7.90% |
| 2004 | $154.96 | 3.86% |
| 2005 | $171.32 | 10.56% |
| 2006 | $187.35 | 9.36% |
| 2007 | $191.63 | 2.28% |
| 2008 | $208.04 | 8.56% |
| 2009 | $199.14 | -4.28% |
| 2010 | $198.44 | -0.35% |
| 2011 | $199.99 | 0.78% |
| 2012 | $195.14 | -2.42% |
| 2013 | $200.42 | 2.70% |
| 2014 | $209.23 | 4.40% |
| 2015 | $204.43 | -2.29% |
| 2016 | $201.71 | -1.33% |
| 2017 | $208.53 | 3.38% |
| 2018 | $209.69 | 0.55% |
| 2019 | $209.31 | -0.18% |
| 2020 | $210.40 | 0.52% |
| 2021 | $225.17 | 7.02% |
| 2022 | $261.40 | 16.09% |
| 2023 | $268.08 | 2.55% |
| 2024 | $275.71 | 2.85%* |
* 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 services:
| Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 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 | 2024 |
| CPI | 20.400 | 19.983 | 19.620 | 19.620 | 19.600 | 19.440 | 19.269 | 19.185 | 19.077 | 19.015 | 18.869 | 18.323 | 18.269 | 18.708 | 19.208 | 19.208 | 19.300 | 19.531 | 19.938 | 20.185 | 20.692 | 20.931 | 21.131 | 21.892 | 22.438 | 23.338 | 23.515 | 23.515 | 23.508 | 23.523 | 23.485 | 23.577 | 23.669 | 23.877 | 24.323 | 25.385 | 27.146 | 28.515 | 29.908 | 34.492 | 40.138 | 44.715 | 50.492 | 55.031 | 61.008 | 71.423 | 81.854 | 93.192 | 101.454 | 105.354 | 107.115 | 105.715 | 103.831 | 104.631 | 107.538 | 109.331 | 112.600 | 114.785 | 118.500 | 119.231 | 119.177 | 122.062 | 125.062 | 121.238 | 120.854 | 128.031 | 142.408 | 134.408 | 145.031 | 150.623 | 166.523 | 182.108 | 186.262 | 202.212 | 193.563 | 192.886 | 194.386 | 189.679 | 194.810 | 203.374 | 198.708 | 196.059 | 202.691 | 203.815 | 203.454 | 204.508 | 218.863 | 254.085 | 260.571 | 267.989 |