According to the U.S. Bureau of Labor Statistics, prices for information technology, hardware and services are 2.94% lower in 2024 versus 2022 (a $0.59 difference in value).
Between 2022 and 2024: Information technology, hardware and services experienced an average inflation rate of -1.48% per year. In other words, information technology, hardware and services costing $20 in the year 2022 would cost $19.41 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation for information technology, hardware and services was significantly lower.
In the year 2022: Pricing changed by -1.72%, which is below the average yearly change for information technology, hardware and services during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), 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 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2022 | $20.00 | -1.72% |
| 2023 | $19.59 | -2.03% |
| 2024 | $19.41 | -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 |