According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 55.70% higher in 2023 versus 2007 (a $66,839.80 difference in value).
Between 2007 and 2023: Phoenix experienced an average inflation rate of 2.81% per year. This rate of change indicates significant inflation. In other words, $120,000 in Phoenix in the year 2007 would cost $186,839.80 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.44% during this same period, inflation in Phoenix was higher.
In the year 2007: Pricing changed by 3.39%, which is above the average yearly change in Phoenix during the 2007-2023 time period. Compared to inflation for all items in 2007 (2.85%), inflation in Phoenix was higher.
Below are calculations of equivalent buying power in Phoenix, over time, for $120,000 beginning in 2007. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2007 | $120,000.00 | 3.39% |
2008 | $124,142.81 | 3.45% |
2009 | $122,377.43 | -1.42% |
2010 | $123,063.39 | 0.56% |
2011 | $126,452.59 | 2.75% |
2012 | $129,277.61 | 2.23% |
2013 | $130,927.45 | 1.28% |
2014 | $133,051.94 | 1.62% |
2015 | $133,255.96 | 0.15% |
2016 | $135,429.37 | 1.63% |
2017 | $138,777.97 | 2.47% |
2018 | $144,556.05 | 4.16% |
2019 | $148,766.52 | 2.91% |
2020 | $151,685.23 | 1.96% |
2021 | $159,292.18 | 5.01% |
2022 | $177,632.98 | 11.51% |
2023 | $186,839.80 | 5.18%* |
* 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 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 |
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 |