New York prices: $20,000 in 2002 $34,216.36 in 2024

Inflation in New York

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Prices in New York, 2002-2024 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices in New York are 71.08% higher in 2024 versus 2002 (a $14,216.36 difference in value).

Between 2002 and 2024: New York experienced an average inflation rate of 2.47% per year. This rate of change indicates significant inflation. In other words, $20,000 in New York in the year 2002 would cost $34,216.36 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation in New York was lower.

In the year 2002: Pricing changed by 2.55%, which is above the average yearly change in New York during the 2002-2024 time period. Compared to inflation for all items in 2002 (1.59%), inflation in New York was higher.

Price Inflation in New York since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (22.12%), 1918 (22.09%), and 1920 (17.24%).

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Buying power of $20,000.00 since 2002

Below are calculations of equivalent buying power in New York, over time, for $20,000 beginning in 2002. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2002$20,000.002.55%
2003$20,614.043.07%
2004$21,340.983.53%
2005$22,168.663.88%
2006$23,005.913.78%
2007$23,651.912.81%
2008$24,573.473.90%
2009$24,682.080.44%
2010$25,103.091.71%
2011$25,817.362.85%
2012$26,325.001.97%
2013$26,767.391.68%
2014$27,121.371.32%
2015$27,155.620.13%
2016$27,448.141.08%
2017$27,985.451.96%
2018$28,519.071.91%
2019$28,990.531.65%
2020$29,486.151.71%
2021$30,464.053.32%
2022$32,323.226.10%
2023$33,558.933.82%
2024$34,216.361.96%*

* 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 New York:

Year191419151916191719181919192019211922192319241925192619271928192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI9.9009.91710.20011.50814.05017.15820.11718.40817.28317.45817.49217.76718.26718.05017.87517.80817.57516.36714.95013.93314.19214.37514.55014.86714.61714.55014.70015.25016.71717.96718.40018.82520.68323.16724.74224.46724.60826.44226.90027.04227.20827.08327.48328.35829.20829.65030.19230.45830.92531.60032.09232.60833.70834.58336.07538.30841.15043.53345.45048.34253.54257.60860.99264.16767.85073.72582.05090.12595.33399.833104.833108.708112.275117.950123.683130.558138.542144.800150.025154.508158.183162.158166.925170.817173.608176.983182.483187.133191.900197.792204.767212.708220.742226.940235.782236.825240.864247.718252.588256.833260.230260.558263.365268.520273.641278.164282.920292.303310.141321.998328.306

Adjust New York prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2002 * 2002 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for New York was 191.900 in the year 2002 and 328.306 in 2024:

328.306 / 191.900 * $20,000 = $34,216.36

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 2002 has the same "purchasing power" as $34,216.36 in 2024 (in the CPI category of New York).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New York in 1914. In addition to New York, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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