According to the U.S. Bureau of Labor Statistics, prices for propane, kerosene, and firewood are 28.03% higher in 2023 versus 2018 (a $5.61 difference in value).
Between 2018 and 2023: Propane, kerosene, and firewood experienced an average inflation rate of 5.07% per year. This rate of change indicates significant inflation. In other words, propane, kerosene, and firewood costing $20 in the year 2018 would cost $25.61 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.91% during this same period, inflation for propane, kerosene, and firewood was higher.
In the year 2018: Pricing changed by 5.83%, which is above the average yearly change for propane, kerosene, and firewood during the 2018-2023 time period. Compared to inflation for all items in 2018 (2.44%), inflation for propane, kerosene, and firewood was much higher.
Below are calculations of equivalent buying power for Propane, kerosene, and firewood, over time, for $20 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation 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 Propane, kerosene, and firewood: