According to the U.S. Bureau of Labor Statistics, prices for household energy are 107.11% higher in 2024 versus 2002 (a $0.19 difference in value).
The current national average price is $0.18 for "Electricity per KWH". This data is collected by a national survey and can vary from region to region.
Between 2002 and 2024: Household energy experienced an average inflation rate of 3.36% per year. This rate of change indicates significant inflation. In other words, household energy costing $0.18 in the year 2002 would cost $0.37 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation for household energy was higher.
In the year 2002: Pricing changed by -6.03%, which is significantly below the average yearly change for household energy during the 2002-2024 time period. Compared to inflation for all items in 2002 (1.59%), inflation for household energy was much lower.
The average price for Household energy is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.
Average prices for Electricity per KWH:
| Year | Average price (Household energy) | Inflation adjusted price (2024 dollars) |
|---|---|---|
| 2024 | $0.18 (latest available value) | $0.18 |
| 2023 | $0.17 | $0.17 |
| 2022 | $0.16 | $0.16 |
| 2021 | $0.14 | $0.17 |
| 2020 | $0.14 | $0.18 |
| 2019 | $0.14 | $0.18 |
| 2018 | $0.14 | $0.18 |
| 2017 | $0.14 | $0.18 |
| 2016 | $0.14 | $0.19 |
| 2015 | $0.14 | $0.19 |
| 2014 | $0.14 | $0.18 |
| 2013 | $0.13 | $0.18 |
| 2012 | $0.13 | $0.18 |
| 2011 | $0.13 | $0.18 |
| 2010 | $0.13 | $0.18 |
| 2009 | $0.13 | $0.18 |
| 2008 | $0.12 | $0.16 |
| 2007 | $0.12 | $0.17 |
| 2006 | $0.11 | $0.17 |
| 2005 | $0.10 | $0.16 |
| 2004 | $0.09 | $0.17 |
| 2003 | $0.09 | $0.18 |
| 2002 | $0.09 | $0.19 |
| 2001 | $0.09 | $0.18 |
| 2000 | $0.09 | $0.19 |
| 1999 | $0.09 | $0.20 |
| 1998 | $0.09 | $0.20 |
| 1997 | $0.09 | $0.21 |
| 1996 | $0.09 | $0.22 |
| 1995 | $0.09 | $0.22 |
| 1994 | $0.09 | $0.22 |
| 1993 | $0.09 | $0.22 |
| 1992 | $0.09 | $0.21 |
| 1991 | $0.09 | $0.21 |
| 1990 | $0.08 | $0.21 |
| 1989 | $0.08 | $0.21 |
| 1988 | $0.08 | $0.22 |
| 1987 | $0.08 | $0.21 |
| 1986 | $0.08 | $0.20 |
| 1985 | $0.08 | $0.20 |
| 1984 | $0.08 | $0.21 |
| 1983 | $0.08 | $0.21 |
| 1982 | $0.08 | $0.21 |
| 1981 | $0.07 | $0.21 |
| 1980 | $0.06 | $0.21 |
| 1979 | $0.05 | $0.22 |
| 1978 | $0.05 | $0.23 |
Below are calculations of equivalent buying power for Household energy, over time, for $0.18 beginning in 2002. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2002 | $0.18 | -6.03% |
| 2003 | $0.20 | 8.59% |
| 2004 | $0.20 | 4.53% |
| 2005 | $0.23 | 11.86% |
| 2006 | $0.25 | 9.60% |
| 2007 | $0.26 | 2.64% |
| 2008 | $0.28 | 10.49% |
| 2009 | $0.27 | -6.32% |
| 2010 | $0.27 | 0.62% |
| 2011 | $0.27 | 2.30% |
| 2012 | $0.27 | -2.24% |
| 2013 | $0.27 | 2.39% |
| 2014 | $0.29 | 4.31% |
| 2015 | $0.28 | -3.72% |
| 2016 | $0.27 | -1.86% |
| 2017 | $0.28 | 3.80% |
| 2018 | $0.28 | 1.27% |
| 2019 | $0.28 | -0.39% |
| 2020 | $0.28 | -0.28% |
| 2021 | $0.30 | 7.89% |
| 2022 | $0.36 | 17.69% |
| 2023 | $0.36 | 1.55% |
| 2024 | $0.37 | 2.44%* |
* 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 Household energy:
| Year | 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 | 21.415 | 21.700 | 22.131 | 23.100 | 24.708 | 25.715 | 27.508 | 34.415 | 39.369 | 43.346 | 48.962 | 52.977 | 61.323 | 74.831 | 87.154 | 95.562 | 100.462 | 103.962 | 104.531 | 99.177 | 97.285 | 97.992 | 100.869 | 104.462 | 106.700 | 108.092 | 111.208 | 111.654 | 111.500 | 115.223 | 117.892 | 113.731 | 113.485 | 122.769 | 135.408 | 127.238 | 138.169 | 144.431 | 161.554 | 177.069 | 181.744 | 200.808 | 188.113 | 189.286 | 193.648 | 189.308 | 193.840 | 202.192 | 194.667 | 191.050 | 198.308 | 200.826 | 200.042 | 199.488 | 215.222 | 253.306 | 257.234 | 263.521 |