According to the U.S. Bureau of Labor Statistics, prices for major appliances are 3.48% lower in 2024 versus 2023 (a $0.70 difference in value).
Between 2023 and 2024: Major appliances experienced an average inflation rate of -3.48% per year. This rate of change indicates significant deflation. In other words, major appliances costing $20 in the year 2023 would cost $19.30 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for major appliances was significantly lower.
In the year 2023: Pricing changed by -8.77%, which is significantly below the average yearly change for major appliances during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for major appliances was much lower.
Below are calculations of equivalent buying power for Major appliances, 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 | -8.77% |
| 2024 | $19.30 | -3.48%* |
* 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 Major appliances:
| Year | 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 | 99.592 | 97.977 | 97.208 | 96.915 | 96.323 | 93.562 | 90.462 | 93.531 | 96.277 | 99.928 | 101.385 | 101.909 | 97.541 | 96.154 | 101.447 | 99.151 | 93.075 | 87.984 | 83.195 | 79.291 | 82.621 | 84.310 | 88.223 | 97.721 | 103.137 | 94.091 | 90.821 |