According to the U.S. Bureau of Labor Statistics, prices for information technology commodities are 6.74% lower in 2024 versus 2023 (a $1.35 difference in value).
Between 2023 and 2024: Information technology commodities experienced an average inflation rate of -6.74% per year. This rate of change indicates significant deflation. In other words, information technology commodities costing $20 in the year 2023 would cost $18.65 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.89% during this same period, inflation for information technology commodities was significantly lower.
In the year 2023: Pricing changed by -9.09%, which is below the average yearly change for information technology commodities during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for information technology commodities was much lower.
Below are calculations of equivalent buying power for Information technology commodities, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2023 | $20.00 | -9.09% |
| 2024 | $18.65 | -6.74%* |
* 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 commodities:
| Year | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 100.000 | 97.441 | 89.403 | 82.170 | 75.844 | 70.763 | 64.893 | 59.890 | 57.264 | 54.934 | 51.688 | 48.838 | 48.189 | 45.063 | 40.968 | 38.208 |