According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 74.41% higher in 2024 versus 2004 (a $7,441,159.70 difference in value).
Between 2004 and 2024: Phoenix experienced an average inflation rate of 2.82% per year. This rate of change indicates significant inflation. In other words, $10,000,000 in Phoenix in the year 2004 would cost $17,441,159.70 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.57% during this same period, inflation in Phoenix was higher.
In the year 2004: Pricing changed by 1.84%, which is below the average yearly change in Phoenix during the 2004-2024 time period. Compared to inflation for all items in 2004 (2.68%), inflation in Phoenix was lower.
Below are calculations of equivalent buying power in Phoenix, over time, for $10,000,000 beginning in 2004. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2004 | $10,000,000.00 | 1.84% |
| 2005 | $10,294,676.81 | 2.95% |
| 2006 | $10,598,859.32 | 2.95% |
| 2007 | $10,958,555.13 | 3.39% |
| 2008 | $11,336,882.13 | 3.45% |
| 2009 | $11,175,665.40 | -1.42% |
| 2010 | $11,238,307.98 | 0.56% |
| 2011 | $11,547,813.69 | 2.75% |
| 2012 | $11,805,798.48 | 2.23% |
| 2013 | $11,956,463.88 | 1.28% |
| 2014 | $12,150,475.29 | 1.62% |
| 2015 | $12,169,106.46 | 0.15% |
| 2016 | $12,367,585.55 | 1.63% |
| 2017 | $12,673,384.03 | 2.47% |
| 2018 | $13,201,045.63 | 4.16% |
| 2019 | $13,585,551.33 | 2.91% |
| 2020 | $13,852,091.25 | 1.96% |
| 2021 | $14,546,768.06 | 5.01% |
| 2022 | $16,221,673.00 | 11.51% |
| 2023 | $17,062,452.47 | 5.18% |
| 2024 | $17,441,159.70 | 2.22%* |
* 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 Phoenix, Arizona:
| Year | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 101.200 | 103.300 | 105.200 | 108.300 | 111.500 | 115.284 | 119.264 | 117.568 | 118.227 | 121.483 | 124.197 | 125.782 | 127.823 | 128.019 | 130.107 | 133.324 | 138.875 | 142.920 | 145.724 | 153.032 | 170.652 | 179.497 | 183.481 |