According to the U.S. Bureau of Labor Statistics, prices for smartphones are 53.42% lower in 2024 versus 2019 (a $10.68 difference in value).

**Between 2019 and 2024:** Smartphones experienced an average inflation rate of -14.17% per year. This rate of change indicates significant deflation. In other words, smartphones costing $20 in the year 2019 would cost $9.32 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.82% during this same period, inflation for smartphones was significantly lower.

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Below are calculations of equivalent buying power for Smartphones, over time, for $20 beginning in 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year | USD Value | Inflation Rate |
---|---|---|

2019 | $20.00 | - |

2020 | $18.40 | -8.01% |

2021 | $14.99 | -18.53% |

2022 | $12.19 | -18.68% |

2023 | $9.96 | -18.26% |

2024 | $9.32 | -6.50%* |

* 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 *Smartphones*:

Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |

CPI | 100.000 | 91.988 | 74.939 | 60.943 | 49.818 | 46.579 |

CPI in 2024 / CPI in 2019 * 2019 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Smartphones was 100.000 in the year 2019 and 46.579 in 2024:

46.579 / 100.000 * $20 =

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2019 has the same "purchasing power" as $9.32 in 2024 (in the CPI category of Smartphones).