Energy services priced at $20 in 2022 → $21.09 in 2024

Energy Services Inflation Calculator

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Prices for Energy Services, 2022-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for energy services are 5.47% higher in 2024 versus 2022 (a $1.09 difference in value).

Between 2022 and 2024: Energy services experienced an average inflation rate of 2.70% per year. This rate of change indicates significant inflation. In other words, energy services costing $20 in the year 2022 would cost $21.09 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation for energy services was lower.

In the year 2022: Pricing changed by 16.09%, which is significantly above the average yearly change for energy services during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), inflation for energy services was much higher.

Price Inflation for Energy services since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (17.07%), 1975 (16.37%), and 2022 (16.09%).
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Buying power of $20.00 since 2022

Below are calculations of equivalent buying power for Energy services, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2022$20.0016.09%
2023$20.512.55%
2024$21.092.85%*

* 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:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI20.40019.98319.62019.62019.60019.44019.26919.18519.07719.01518.86918.32318.26918.70819.20819.20819.30019.53119.93820.18520.69220.93121.13121.89222.43823.33823.51523.51523.50823.52323.48523.57723.66923.87724.32325.38527.14628.51529.90834.49240.13844.71550.49255.03161.00871.42381.85493.192101.454105.354107.115105.715103.831104.631107.538109.331112.600114.785118.500119.231119.177122.062125.062121.238120.854128.031142.408134.408145.031150.623166.523182.108186.262202.212193.563192.886194.386189.679194.810203.374198.708196.059202.691203.815203.454204.508218.863254.085260.571267.989

Adjust energy services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2022 * 2022 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Energy services was 254.085 in the year 2022 and 267.989 in 2024:

267.989 / 254.085 * $20 = $21.09

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $21.09 in 2024 (in the CPI category of Energy services).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Energy services in 1935. In addition to energy services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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