Energy priced at $20 in 2008 $23.82 in 2023

Energy Inflation Calculator


Prices for Energy, 2008-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for energy are 19.10% higher in 2023 versus 2008 (a $3.82 difference in value).

Between 2008 and 2023: Energy experienced an average inflation rate of 1.17% per year. In other words, energy costing $20 in the year 2008 would cost $23.82 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.27% during this same period, inflation for energy was lower.

In the year 2008: Pricing changed by 13.93%, which is significantly above the average yearly change for energy during the 2008-2023 time period. Compared to inflation for all items in 2008 (3.84%), inflation for energy was much higher.

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 2008

Below are calculations of equivalent buying power for Energy, over time, for $20 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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:


Adjust energy prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2008 * 2008 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Energy was 236.666 in the year 2008 and 281.860 in 2023:

281.860 / 236.666 * $20 = $23.82

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2008 has the same "purchasing power" as $23.82 in 2023 (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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