According to the U.S. Bureau of Labor Statistics, prices for energy services are 114.95% higher in 2023 versus 1998 (a $22.99 difference in value).
Between 1998 and 2023: Energy services experienced an average inflation rate of 3.11% per year. This rate of change indicates significant inflation. In other words, energy services costing $20 in the year 1998 would cost $42.99 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for energy services was higher.
In the year 1998: Pricing changed by -3.06%, which is significantly below the average yearly change for energy services during the 1998-2023 time period. Compared to inflation for all items in 1998 (1.55%), inflation for energy services was much lower.
Below are calculations of equivalent buying power for Energy services, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $20.00 | -3.06% |
| 1999 | $19.94 | -0.32% |
| 2000 | $21.12 | 5.94% |
| 2001 | $23.49 | 11.23% |
| 2002 | $22.17 | -5.62% |
| 2003 | $23.92 | 7.90% |
| 2004 | $24.85 | 3.86% |
| 2005 | $27.47 | 10.56% |
| 2006 | $30.04 | 9.36% |
| 2007 | $30.73 | 2.28% |
| 2008 | $33.36 | 8.56% |
| 2009 | $31.93 | -4.28% |
| 2010 | $31.82 | -0.35% |
| 2011 | $32.07 | 0.78% |
| 2012 | $31.29 | -2.42% |
| 2013 | $32.14 | 2.70% |
| 2014 | $33.55 | 4.40% |
| 2015 | $32.78 | -2.29% |
| 2016 | $32.34 | -1.33% |
| 2017 | $33.44 | 3.38% |
| 2018 | $33.62 | 0.55% |
| 2019 | $33.56 | -0.18% |
| 2020 | $33.74 | 0.52% |
| 2021 | $36.10 | 7.02% |
| 2022 | $41.91 | 16.09% |
| 2023 | $42.99 | 2.57%* |
* 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 |
| 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 | 260.603 |