Information technology, hardware and services price inflation, 2015→2023

Information Technology, Hardware And Services Inflation Calculator

Prices for Information Technology, Hardware And Services, 2015-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for information technology, hardware and services are 11.65% lower in 2023 versus 2015 (a $2.33 difference in value).

Between 2015 and 2023: Information technology, hardware and services experienced an average inflation rate of -1.54% per year. In other words, information technology, hardware and services costing $20 in the year 2015 would cost $17.67 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.17% during this same period, inflation for information technology, hardware and services was significantly lower.

In the year 2015: Pricing changed by -3.57%, which is below the average yearly change for information technology, hardware and services during the 2015-2023 time period. Compared to inflation for all items in 2015 (0.12%), 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%).

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Buying power of $20.00 since 2015

Below are calculations of equivalent buying power for Information technology, hardware and services, over time, for $20 beginning in 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2015	$20.00	-3.57%
2016	$19.39	-3.07%
2017	$18.92	-2.40%
2018	$18.54	-1.99%
2019	$18.34	-1.09%
2020	$18.18	-0.87%
2021	$18.29	0.60%
2022	$17.98	-1.72%
2023	$17.67	-1.71%*

* 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
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	7.115

Adjust information technology, hardware and services prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2015 * 2015 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Information technology, hardware and services was 8.053 in the year 2015 and 7.115 in 2023:

7.115 / 8.053 * $20 = $17.67

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2015 has the same "purchasing power" as $17.67 in 2023 (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.