Energy priced at $20 in 1968 $232 in 2024

Energy Inflation Calculator

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Prices for Energy, 1968-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for energy are 1,059.99% higher in 2024 versus 1968 (a $212 difference in value).

Between 1968 and 2024: Energy experienced an average inflation rate of 4.47% per year. This rate of change indicates significant inflation. In other words, energy costing $20 in the year 1968 would cost $232 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.99% during this same period, inflation for energy was higher.

In the year 1968: Pricing changed by 1.48%, which is below the average yearly change for energy during the 1968-2024 time period. Compared to inflation for all items in 1968 (4.27%), inflation for energy was lower.

Price Inflation for Energy since 1957

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (30.87%), 1974 (29.23%), and 2022 (25.15%).

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Buying power of $20.00 since 1968

Below are calculations of equivalent buying power for Energy, over time, for $20 beginning in 1968. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1968$20.001.48%
1969$20.522.58%
1970$21.082.76%
1971$21.913.95%
1972$22.522.76%
1973$24.348.11%
1974$31.4629.23%
1975$34.8010.61%
1976$37.297.16%
1977$40.839.50%
1978$43.436.35%
1979$54.3525.14%
1980$71.1230.87%
1981$80.7813.58%
1982$81.971.47%
1983$82.610.78%
1984$83.431.00%
1985$84.020.70%
1986$72.94-13.18%
1987$73.230.40%
1988$73.790.76%
1989$77.975.67%
1990$84.408.25%
1991$84.700.35%
1992$85.150.53%
1993$86.101.12%
1994$86.490.45%
1995$87.000.59%
1996$91.054.65%
1997$92.191.26%
1998$85.05-7.75%
1999$88.143.63%
2000$103.0116.88%
2001$106.893.76%
2002$100.59-5.89%
2003$112.8412.18%
2004$125.1610.92%
2005$146.3716.95%
2006$162.7511.19%
2007$171.735.52%
2008$195.6513.93%
2009$159.66-18.40%
2010$174.819.49%
2011$201.6415.35%
2012$203.440.89%
2013$202.06-0.68%
2014$201.37-0.34%
2015$167.74-16.70%
2016$156.69-6.58%
2017$169.097.92%
2018$181.837.53%
2019$177.99-2.11%
2020$162.82-8.52%
2021$197.0321.01%
2022$246.5825.15%
2023$234.19-5.02%
2024$232.00-0.94%*

* 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:

Year19571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI21.47721.53121.90022.43122.49222.58522.62322.53122.94623.30023.83824.19224.81525.50026.50827.23829.44638.05442.09245.10849.39252.53165.73886.03197.71599.15499.923100.923101.63188.23188.58589.25494.315102.092102.454103.000104.154104.623105.238110.131111.515102.877106.615124.608129.292121.677136.492151.392177.054196.862207.723236.666193.126211.449243.909246.080244.409243.583202.895189.535204.540219.941215.294196.949238.325298.266283.286280.628

Adjust energy prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1968 * 1968 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Energy was 24.192 in the year 1968 and 280.628 in 2024:

280.628 / 24.192 * $20 = $232

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1968 has the same "purchasing power" as $232 in 2024 (in the CPI category of Energy).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Energy in 1957. In addition to energy, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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