Philadelphia, Pennsylvania prices: $1 in 2018 $1.19 in 2023

Inflation in Pennsylvania


Prices in Philadelphia, 2018-2023 ($1)

According to the U.S. Bureau of Labor Statistics, prices in Philadelphia, Pennsylvania are 19.01% higher in 2023 versus 2018 (a $0.19 difference in value).

Between 2018 and 2023: Philadelphia experienced an average inflation rate of 3.54% per year. This rate of change indicates significant inflation. In other words, $1 in Philadelphia in the year 2018 would cost $1.19 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.71% during this same period, inflation in Philadelphia was lower.

In the year 2018: Pricing changed by 1.33%, which is below the average yearly change in Philadelphia during the 2018-2023 time period. Compared to inflation for all items in 2018 (2.44%), inflation in Philadelphia was lower.

Price Inflation in Philadelphia, Pennsylvania since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1919 (21.56%), 1918 (21.45%), and 1920 (16.49%).

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Buying power of $1.00 since 2018

Below are calculations of equivalent buying power in Philadelphia, over time, for $1 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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 Philadelphia, Pennsylvania:


Adjust Philadelphia prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2018 * 2018 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Philadelphia, Pennsylvania was 251.635 in the year 2018 and 299.468 in 2023:

299.468 / 251.635 * $1 = $1.19

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 2018 has the same "purchasing power" as $1.19 in 2023 (in the CPI category of Philadelphia, Pennsylvania).

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

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