Footwear price inflation, 2016→2024

Footwear Inflation Calculator

Prices for Footwear, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for footwear are 6.35% higher in 2024 versus 2016 (a $1.27 difference in value).

Between 2016 and 2024: Footwear experienced an average inflation rate of 0.77% per year. In other words, footwear costing $20 in the year 2016 would cost $21.27 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for footwear was lower.

In the year 2016: Pricing changed by 0.39%, which is below the average yearly change for footwear during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for footwear was lower.

Price Inflation for Footwear since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1947 (24.84%), 1951 (13.10%), and 1942 (12.82%).

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Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Footwear, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2016	$20.00	0.39%
2017	$19.91	-0.46%
2018	$19.82	-0.46%
2019	$19.91	0.47%
2020	$19.40	-2.54%
2021	$20.12	3.70%
2022	$21.05	4.61%
2023	$21.10	0.23%
2024	$21.27	0.82%*

* 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 Footwear:

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	2024
CPI	14.000	14.200	15.000	15.000	14.800	15.000	15.600	17.600	18.500	19.300	19.800	22.200	27.715	30.277	30.062	30.531	34.531	33.846	33.808	34.192	34.538	36.338	37.538	38.115	39.685	41.069	41.415	42.008	42.477	42.662	43.369	45.977	48.254	50.808	53.938	56.754	58.615	60.254	62.808	66.631	69.600	72.346	75.708	79.015	85.238	91.823	96.677	99.131	99.808	101.054	102.354	101.923	105.108	109.931	114.354	117.369	120.885	124.954	125.877	126.000	125.423	126.623	127.562	128.031	125.723	123.792	122.992	121.385	119.562	119.254	122.615	123.531	122.374	124.157	126.854	127.988	128.482	131.834	135.016	135.452	136.787	137.315	136.689	136.054	136.692	133.220	138.148	144.518	144.846	146.031

Adjust footwear prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Footwear was 137.315 in the year 2016 and 146.031 in 2024:

146.031 / 137.315 * $20 = $21.27

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $21.27 in 2024 (in the CPI category of Footwear).

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