Propane, kerosene, and firewood price inflation, 2023→2024

Propane, Kerosene, And Firewood Inflation Calculator

Prices for Propane, Kerosene, And Firewood, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for propane, kerosene, and firewood are 1.02% lower in 2024 versus 2023 (a $0.20 difference in value).

Between 2023 and 2024: Propane, kerosene, and firewood experienced an average inflation rate of -1.02% per year. In other words, propane, kerosene, and firewood costing $20 in the year 2023 would cost $19.80 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for propane, kerosene, and firewood was significantly lower.

In the year 2023: Pricing changed by -4.66%, which is significantly below the average yearly change for propane, kerosene, and firewood during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for propane, kerosene, and firewood was much lower.

Price Inflation for Propane, kerosene, and firewood since 1986

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2000 (22.08%), 2021 (21.94%), and 2008 (20.36%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Propane, kerosene, and firewood, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	-4.66%
2024	$19.80	-1.02%*

* 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:

Year	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	100.000	101.600	102.715	104.038	123.362	122.669	119.477	119.992	118.408	118.077	128.038	131.392	126.669	127.392	155.523	168.708	154.762	181.923	202.077	240.569	268.808	285.957	344.190	293.062	320.589	348.050	328.400	327.604	358.421	305.881	295.486	322.124	340.905	329.086	319.835	389.993	456.814	435.541	431.118

Adjust propane, kerosene, and firewood prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Propane, kerosene, and firewood was 435.541 in the year 2023 and 431.118 in 2024:

431.118 / 435.541 * $20 = $19.80

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $19.80 in 2024 (in the CPI category of Propane, kerosene, and firewood).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Propane, kerosene, and firewood in 1986. In addition to propane, kerosene, and firewood, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.