According to the U.S. Bureau of Labor Statistics, prices for information technology, hardware and services are 90.24% lower in 2024 versus 1994 (a $18.05 difference in value).
Between 1994 and 2024: Information technology, hardware and services experienced an average inflation rate of -7.46% per year. This rate of change indicates significant deflation. In other words, information technology, hardware and services costing $20 in the year 1994 would cost $1.95 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for information technology, hardware and services was significantly lower.
In the year 1994: Pricing changed by -8.70%, which is below the average yearly change for information technology, hardware and services during the 1994-2024 time period. Compared to inflation for all items in 1994 (2.60%), inflation for information technology, hardware and services was much lower.
Below are calculations of equivalent buying power for Information technology, hardware and services, over time, for $20 beginning in 1994. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1994 | $20.00 | -8.70% |
| 1995 | $17.74 | -11.32% |
| 1996 | $15.90 | -10.33% |
| 1997 | $13.92 | -12.50% |
| 1998 | $11.08 | -20.38% |
| 1999 | $8.49 | -23.40% |
| 2000 | $7.20 | -15.21% |
| 2001 | $5.93 | -17.59% |
| 2002 | $5.08 | -14.31% |
| 2003 | $4.48 | -11.74% |
| 2004 | $4.12 | -8.25% |
| 2005 | $3.78 | -8.10% |
| 2006 | $3.46 | -8.48% |
| 2007 | $2.94 | -14.91% |
| 2008 | $2.80 | -5.06% |
| 2009 | $2.69 | -3.87% |
| 2010 | $2.62 | -2.68% |
| 2011 | $2.51 | -4.07% |
| 2012 | $2.43 | -3.23% |
| 2013 | $2.37 | -2.55% |
| 2014 | $2.32 | -1.93% |
| 2015 | $2.24 | -3.57% |
| 2016 | $2.17 | -3.07% |
| 2017 | $2.12 | -2.40% |
| 2018 | $2.08 | -1.99% |
| 2019 | $2.05 | -1.09% |
| 2020 | $2.03 | -0.87% |
| 2021 | $2.05 | 0.60% |
| 2022 | $2.01 | -1.72% |
| 2023 | $1.97 | -2.03% |
| 2024 | $1.95 | -0.94%* |
* 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 Information technology, hardware and services:
| Year | 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 | 100.000 | 96.277 | 93.485 | 88.638 | 83.685 | 78.823 | 71.969 | 63.823 | 57.231 | 50.077 | 39.869 | 30.538 | 25.892 | 21.338 | 18.285 | 16.138 | 14.808 | 13.608 | 12.454 | 10.597 | 10.061 | 9.672 | 9.413 | 9.030 | 8.739 | 8.516 | 8.352 | 8.053 | 7.806 | 7.619 | 7.467 | 7.386 | 7.322 | 7.366 | 7.239 | 7.092 | 7.026 |