Fuels and utilities priced at $20 in 1971 $197.59 in 2023

Fuels And Utilities Inflation Calculator

$

Prices for Fuels And Utilities, 1971-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for fuels and utilities are 887.94% higher in 2023 versus 1971 (a $177.59 difference in value).

Between 1971 and 2023: Fuels and utilities experienced an average inflation rate of 4.50% per year. This rate of change indicates significant inflation. In other words, fuels and utilities costing $20 in the year 1971 would cost $197.59 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.94% during this same period, inflation for fuels and utilities was higher.

In the year 1971: Pricing changed by 6.81%, which is above the average yearly change for fuels and utilities during the 1971-2023 time period. Compared to inflation for all items in 1971 (4.30%), inflation for fuels and utilities was higher.

Price Inflation for Fuels and utilities since 1952

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1974 (18.34%), 1980 (16.43%), and 1981 (14.60%).

View price changes for other categories
Alcoholic beverages · New trucks · Philadelphia, Pennsylvania · Indoor plants and flowers · More

Buying power of $20.00 since 1971

Below are calculations of equivalent buying power for Fuels and utilities, over time, for $20 beginning in 1971. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1971$20.006.81%
1972$20.884.40%
1973$22.085.73%
1974$26.1318.34%
1975$29.1911.73%
1976$31.788.86%
1977$35.1710.69%
1978$37.576.82%
1979$41.6210.78%
1980$48.4616.43%
1981$55.5414.60%
1982$61.029.87%
1983$64.425.57%
1984$67.394.61%
1985$68.471.61%
1986$66.92-2.27%
1987$66.22-1.04%
1988$67.131.37%
1989$69.273.19%
1990$71.743.57%
1991$74.093.27%
1992$75.722.20%
1993$77.982.98%
1994$78.921.21%
1995$79.480.71%
1996$81.963.12%
1997$84.042.55%
1998$82.57-1.75%
1999$82.790.26%
2000$88.637.06%
2001$96.528.90%
2002$92.28-4.40%
2003$99.337.65%
2004$104.064.76%
2005$115.0810.59%
2006$125.158.75%
2007$128.963.05%
2008$141.429.66%
2009$135.43-4.24%
2010$137.671.66%
2011$141.652.89%
2012$140.76-0.63%
2013$144.762.84%
2014$150.794.17%
2015$147.92-1.90%
2016$147.10-0.55%
2017$152.543.70%
2018$155.261.79%
2019$155.930.43%
2020$156.800.56%
2021$167.476.80%
2022$191.6814.46%
2023$197.593.08%*

* 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 Fuels and utilities:

Year195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI22.20022.47722.58523.06223.62324.32324.81525.36925.94626.26226.33126.56226.63826.63126.73827.06227.41528.04629.13131.11532.48534.34640.64645.41549.43854.72358.45464.75475.39286.40094.931100.223104.838106.531104.115103.031104.438107.769111.615115.262117.800121.315122.785123.654127.508130.754128.462128.800137.892150.169143.562154.538161.892179.038194.700200.632220.018210.696214.187220.367218.986225.207234.589230.129228.855237.315241.554242.598243.949260.540298.208307.401

Adjust fuels and utilities prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1971 * 1971 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Fuels and utilities was 31.115 in the year 1971 and 307.401 in 2023:

307.401 / 31.115 * $20 = $197.59

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1971 has the same "purchasing power" as $197.59 in 2023 (in the CPI category of Fuels and utilities).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Fuels and utilities in 1952. In addition to fuels and utilities, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.