Information technology, hardware and services priced at $20 in 2001 $6.81 in 2022

Information Technology, Hardware And Services Inflation Calculator

$

Prices for Information Technology, Hardware And Services, 2001-2022 ($20)

According to the U.S. Bureau of Labor Statistics, prices for information technology, hardware and services are 65.94% lower in 2022 versus 2001 (a $13.19 difference in value).

Between 2001 and 2022: Information technology, hardware and services experienced an average inflation rate of -5% per year. This rate of change indicates significant deflation. In other words, information technology, hardware and services costing $20 in the year 2001 would cost $6.81 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.41% during this same period, inflation for information technology, hardware and services was significantly lower.

In the year 2001: Pricing changed by -17.59%, which is significantly below the average yearly change for information technology, hardware and services during the 2001-2022 time period. Compared to inflation for all items in 2001 (2.83%), inflation for information technology, hardware and services was much lower.

Price Inflation for Information technology, hardware and services since 1988

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1999 (-23.40%), 1998 (-20.38%), and 2001 (-17.59%).

View price changes for other categories
Film and photographic supplies · Financial services · Denver, Colorado · Wireless telephone services · More

Buying power of $20.00 since 2001

Below are calculations of equivalent buying power for Information technology, hardware and services, over time, for $20 beginning in 2001. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2001$20.00-17.59%
2002$17.14-14.31%
2003$15.13-11.74%
2004$13.88-8.25%
2005$12.75-8.10%
2006$11.67-8.48%
2007$9.93-14.91%
2008$9.43-5.06%
2009$9.07-3.87%
2010$8.82-2.68%
2011$8.46-4.07%
2012$8.19-3.23%
2013$7.98-2.55%
2014$7.83-1.93%
2015$7.55-3.57%
2016$7.32-3.07%
2017$7.14-2.40%
2018$7.00-1.99%
2019$6.92-1.09%
2020$6.86-0.87%
2021$6.900.60%
2022$6.81-1.33%*

* 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:

Year19881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI100.00096.27793.48588.63883.68578.82371.96963.82357.23150.07739.86930.53825.89221.33818.28516.13814.80813.60812.45410.59710.0619.6729.4139.0308.7398.5168.3528.0537.8067.6197.4677.3867.3227.3667.267

Adjust information technology, hardware and services prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 2001 * 2001 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Information technology, hardware and services was 21.338 in the year 2001 and 7.267 in 2022:

7.267 / 21.338 * $20 = $6.81

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2001 has the same "purchasing power" as $6.81 in 2022 (in the CPI category of Information technology, hardware and services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Information technology, hardware and services in 1988. In addition to information technology, hardware and services, 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.