According to the U.S. Bureau of Labor Statistics, prices for household energy are 3.99% higher in 2024 versus 2022 (a $0.01 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 2022 and 2024: Household energy experienced an average inflation rate of 1.97% per year. In other words, household energy costing $0.18 in the year 2022 would cost $0.19 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.50% during this same period, inflation for household energy was lower.
In the year 2022: Pricing changed by 17.69%, which is significantly above the average yearly change for household energy during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), inflation for household energy was much higher.
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 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2022 | $0.18 | 17.69% |
| 2023 | $0.18 | 1.55% |
| 2024 | $0.19 | 2.40%* |
* 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 | 263.409 |