According to the U.S. Bureau of Labor Statistics, prices for energy are 173.95% higher in 2024 versus 1998 (a $34.79 difference in value).
Between 1998 and 2024: Energy experienced an average inflation rate of 3.95% per year. This rate of change indicates significant inflation. In other words, energy costing $20 in the year 1998 would cost $54.79 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for energy was higher.
In the year 1998: Pricing changed by -7.75%, which is significantly below the average yearly change for energy during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for energy was much lower.
Below are calculations of equivalent buying power for Energy, 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 | -7.75% |
| 1999 | $20.73 | 3.63% |
| 2000 | $24.22 | 16.88% |
| 2001 | $25.14 | 3.76% |
| 2002 | $23.65 | -5.89% |
| 2003 | $26.54 | 12.18% |
| 2004 | $29.43 | 10.92% |
| 2005 | $34.42 | 16.95% |
| 2006 | $38.27 | 11.19% |
| 2007 | $40.38 | 5.52% |
| 2008 | $46.01 | 13.93% |
| 2009 | $37.55 | -18.40% |
| 2010 | $41.11 | 9.49% |
| 2011 | $47.42 | 15.35% |
| 2012 | $47.84 | 0.89% |
| 2013 | $47.51 | -0.68% |
| 2014 | $47.35 | -0.34% |
| 2015 | $39.44 | -16.70% |
| 2016 | $36.85 | -6.58% |
| 2017 | $39.76 | 7.92% |
| 2018 | $42.76 | 7.53% |
| 2019 | $41.85 | -2.11% |
| 2020 | $38.29 | -8.52% |
| 2021 | $46.33 | 21.01% |
| 2022 | $57.98 | 25.15% |
| 2023 | $55.07 | -5.02% |
| 2024 | $54.79 | -0.51%* |
* 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:
| Year | 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 | 21.477 | 21.531 | 21.900 | 22.431 | 22.492 | 22.585 | 22.623 | 22.531 | 22.946 | 23.300 | 23.838 | 24.192 | 24.815 | 25.500 | 26.508 | 27.238 | 29.446 | 38.054 | 42.092 | 45.108 | 49.392 | 52.531 | 65.738 | 86.031 | 97.715 | 99.154 | 99.923 | 100.923 | 101.631 | 88.231 | 88.585 | 89.254 | 94.315 | 102.092 | 102.454 | 103.000 | 104.154 | 104.623 | 105.238 | 110.131 | 111.515 | 102.877 | 106.615 | 124.608 | 129.292 | 121.677 | 136.492 | 151.392 | 177.054 | 196.862 | 207.723 | 236.666 | 193.126 | 211.449 | 243.909 | 246.080 | 244.409 | 243.583 | 202.895 | 189.535 | 204.540 | 219.941 | 215.294 | 196.949 | 238.325 | 298.266 | 283.286 | 281.836 |