Miami-Fort Lauderdale, Florida price inflation, 2016→2024

Miami-fort Lauderdale, Florida Inflation Calculator

Prices for Miami-fort Lauderdale, Florida, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for miami-fort lauderdale, florida are 38.91% higher in 2024 versus 2016 (a $7.78 difference in value).

Between 2016 and 2024: Miami-Fort Lauderdale, Florida experienced an average inflation rate of 4.19% per year. This rate of change indicates significant inflation. In other words, miami-fort lauderdale, florida costing $20 in the year 2016 would cost $27.78 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.39% during this same period, inflation for miami-fort lauderdale, florida was higher.

In the year 2016: Pricing changed by 1.73%, which is below the average yearly change for miami-fort lauderdale, florida during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for miami-fort lauderdale, florida was higher.

Price Inflation for Miami-Fort Lauderdale, Florida since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1980 (14.04%), 1981 (11.39%), and 1979 (9.70%).

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Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Miami-Fort Lauderdale, Florida, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2016	$20.00	1.73%
2017	$20.53	2.67%
2018	$21.23	3.38%
2019	$21.60	1.75%
2020	$21.80	0.92%
2021	$22.69	4.11%
2022	$24.85	9.48%
2023	$26.83	8.00%
2024	$27.78	3.54%*

* 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 Miami-Fort Lauderdale, Florida:

Year	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	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	62.000	64.583	70.850	80.800	90.000	96.567	99.683	103.417	106.333	107.883	111.667	116.617	121.367	127.683	132.183	134.367	139.000	143.367	148.667	153.400	158.383	160.450	162.292	167.658	172.867	175.350	180.425	185.267	193.967	203.600	211.893	222.080	221.195	222.980	230.565	235.073	237.996	243.012	245.416	249.670	256.337	264.998	269.640	272.125	283.305	310.163	334.965	346.817

Adjust miami-fort lauderdale, florida prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Miami-Fort Lauderdale, Florida was 249.670 in the year 2016 and 346.817 in 2024:

346.817 / 249.670 * $20 = $27.78

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $27.78 in 2024 (in the CPI category of Miami-Fort Lauderdale, Florida).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Miami-Fort Lauderdale, Florida in 1977. In addition to miami-fort lauderdale, florida, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.