Household operations price inflation, 2016→2024

Household Operations Inflation Calculator

Prices for Household Operations, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for household operations are 48.89% higher in 2024 versus 2016 (a $9.78 difference in value).

Between 2016 and 2024: Household operations experienced an average inflation rate of 5.10% per year. This rate of change indicates significant inflation. In other words, household operations costing $20 in the year 2016 would cost $29.78 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for household operations was higher.

In the year 2016: Pricing changed by 2.79%, which is below the average yearly change for household operations during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for household operations was higher.

Price Inflation for Household operations since 1997

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

Years with the largest changes in pricing: 2022 (6.88%), 2021 (6.14%), and 2023 (5.98%).

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Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Household operations, 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	2.79%
2017	$20.55	2.73%
2018	$21.68	5.50%
2019	$22.67	4.57%
2020	$23.37	3.12%
2021	$24.81	6.14%
2022	$26.52	6.88%
2023	$28.10	5.98%
2024	$29.78	5.95%*

* 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 operations:

Year	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	100.000	101.531	104.500	110.477	115.554	118.969	121.838	125.008	130.262	136.569	140.621	147.542	150.265	150.260	151.796	155.152	157.647	161.574	166.945	171.600	176.290	185.988	194.489	200.556	212.879	227.528	241.141	255.498

Adjust household operations 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 Household operations was 171.600 in the year 2016 and 255.498 in 2024:

255.498 / 171.600 * $20 = $29.78

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $29.78 in 2024 (in the CPI category of Household operations).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Household operations in 1997. In addition to household operations, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.