Other lodging away from home including hotels and motels price inflation, 2023→2024

Other Lodging Away From Home Including Hotels And Motels Inflation Calculator

Prices for Other Lodging Away From Home Including Hotels And Motels, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for other lodging away from home including hotels and motels are 0.81% higher in 2024 versus 2023 (a $0.16 difference in value).

Between 2023 and 2024: Other lodging away from home including hotels and motels experienced an average inflation rate of 0.81% per year. In other words, other lodging away from home including hotels and motels costing $20 in the year 2023 would cost $20.16 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for other lodging away from home including hotels and motels was lower.

In the year 2023: Pricing changed by 4.54%, which is significantly above the average yearly change for other lodging away from home including hotels and motels during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for other lodging away from home including hotels and motels was higher.

Price Inflation for Other lodging away from home including hotels and motels since 1967

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

Years with the largest changes in pricing: 1979 (15.36%), 1980 (14.16%), and 1991 (14.14%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Other lodging away from home including hotels and motels, 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	4.54%
2024	$20.16	0.81%*

* 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 Other lodging away from home including hotels and motels:

Year	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	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	26.985	28.746	31.000	33.754	35.085	35.831	37.385	40.200	43.146	46.677	50.477	57.538	66.377	75.777	84.438	94.231	99.023	106.754	114.192	118.400	125.677	132.938	138.438	152.538	174.108	184.215	189.392	195.085	203.069	213.662	224.108	234.469	241.208	252.423	253.985	251.354	252.192	265.277	274.154	285.562	299.905	300.970	279.215	280.431	287.435	292.577	294.836	307.782	317.417	325.335	327.148	329.406	339.513	299.197	331.684	372.785	389.720	392.885

Adjust other lodging away from home including hotels and motels prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Other lodging away from home including hotels and motels was 389.720 in the year 2023 and 392.885 in 2024:

392.885 / 389.720 * $20 = $20.16

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.16 in 2024 (in the CPI category of Other lodging away from home including hotels and motels).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Other lodging away from home including hotels and motels in 1967. In addition to other lodging away from home including hotels and motels, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.