Music instruments and accessories priced at $20 in 2003 $24.31 in 2024

Music Instruments And Accessories Inflation Calculator

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Prices for Music Instruments And Accessories, 2003-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for music instruments and accessories are 21.56% higher in 2024 versus 2003 (a $4.31 difference in value).

Between 2003 and 2024: Music instruments and accessories experienced an average inflation rate of 0.93% per year. In other words, music instruments and accessories costing $20 in the year 2003 would cost $24.31 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.57% during this same period, inflation for music instruments and accessories was lower.

In the year 2003: Pricing changed by -0.85%, which is below the average yearly change for music instruments and accessories during the 2003-2024 time period. Compared to inflation for all items in 2003 (2.27%), inflation for music instruments and accessories was much lower.

Price Inflation for Music instruments and accessories since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2023 (6.51%), 2022 (6.05%), and 2020 (3.35%).

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Buying power of $20.00 since 2003

Below are calculations of equivalent buying power for Music instruments and accessories, over time, for $20 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2003$20.00-0.85%
2004$19.74-1.30%
2005$19.72-0.12%
2006$19.70-0.11%
2007$19.19-2.59%
2008$19.421.24%
2009$19.631.04%
2010$19.660.17%
2011$19.24-2.13%
2012$19.290.24%
2013$19.742.35%
2014$19.890.74%
2015$19.980.48%
2016$20.412.16%
2017$20.500.44%
2018$20.28-1.10%
2019$20.470.97%
2020$21.163.35%
2021$21.481.53%
2022$22.786.05%
2023$24.276.51%
2024$24.310.18%*

* 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 Music instruments and accessories:

Year1997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000100.66999.33899.200100.162100.03899.18597.90097.78597.67795.14496.32697.33397.49795.41695.64897.89498.61499.090101.234101.678100.559101.534104.937106.547112.994120.351120.572

Adjust music instruments and accessories prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2003 * 2003 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Music instruments and accessories was 99.185 in the year 2003 and 120.572 in 2024:

120.572 / 99.185 * $20 = $24.31

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2003 has the same "purchasing power" as $24.31 in 2024 (in the CPI category of Music instruments and accessories).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Music instruments and accessories in 1997. In addition to music instruments and accessories, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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