According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona were 22.19% higher in 2020 versus 2008 (a $4.44 difference in value).
Between 2008 and 2020: Phoenix experienced an average inflation rate of 1.68% per year. In other words, $20 in Phoenix in the year 2008 would cost $24.44 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.55% during this same period, inflation in Phoenix was higher.
In the year 2008: Pricing changed by 3.45%, which is above the average yearly change in Phoenix during the 2008-2020 time period. Compared to inflation for all items in 2008 (3.84%), inflation in Phoenix was lower.
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 |
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 |
Below are calculations of equivalent buying power in Phoenix, over time, for $20 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2008 | $20.00 | 3.45% |
2009 | $19.72 | -1.42% |
2010 | $19.83 | 0.56% |
2011 | $20.37 | 2.75% |
2012 | $20.83 | 2.23% |
2013 | $21.09 | 1.28% |
2014 | $21.44 | 1.62% |
2015 | $21.47 | 0.15% |
2016 | $21.82 | 1.63% |
2017 | $22.36 | 2.47% |
2018 | $23.29 | 4.16% |
2019 | $23.97 | 2.91% |
2020 | $24.44 | 1.96%* |