Phoenix, Arizona prices: $40,458,971 in 2008 $51,914,385.31 in 2021

Inflation in Arizona

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Prices in Phoenix, 2008-2021 ($40,458,971)

According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 28.31% higher in 2021 versus 2008 (a $11,455,414.31 difference in value).

Between 2008 and 2021: Phoenix experienced an average inflation rate of 1.94% per year. In other words, $40,458,971 in Phoenix in the year 2008 would cost $51,914,385.31 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.78% 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 2008-2021 time period. Compared to inflation for all items in 2008 (3.84%), inflation in Phoenix was lower.

Price Inflation in Phoenix, Arizona since 2002

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2021 (5.01%), 2018 (4.16%), and 2008 (3.45%).

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Buying power of $40,458,971.00 since 2008

Below are calculations of equivalent buying power in Phoenix, over time, for $40,458,971 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 $40,458,971.00 3.45%
2009 $39,883,622.07 -1.42%
2010 $40,107,180.41 0.56%
2011 $41,211,741.80 2.75%
2012 $42,132,435.78 2.23%
2013 $42,670,129.21 1.28%
2014 $43,362,515.51 1.62%
2015 $43,429,006.31 0.15%
2016 $44,137,336.83 1.63%
2017 $45,228,667.91 2.47%
2018 $47,111,782.24 4.16%
2019 $48,484,003.01 2.91%
2020 $49,435,228.48 1.96%
2021 $51,914,385.31 5.01%*
* Not final. See inflation summary for latest details.

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
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

Adjust Phoenix prices for inflation

Start with the inflation rate formula:

CPI in 2021 / CPI in 2008 * 2008 USD value = 2021 USD value

Then plug in historical CPI values from above. The CPI for Phoenix, Arizona was 119.264 in the year 2008 and 153.032 in 2021:

153.032 / 119.264 * $40,458,971 = $51,914,385.31

Therefore, according to U.S. Bureau of Labor Statistics, $40,458,971 in 2008 has the same "purchasing power" as $51,914,385.31 in 2021 (in the CPI category of Phoenix, Arizona).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Phoenix, Arizona in 2002. In addition to Phoenix, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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