Tampa price inflation, 1994→2023

Inflation in Florida

Prices in Tampa, 1994-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices in Tampa, Florida are 131.03% higher in 2023 versus 1994 (a $26.21 difference in value).

Between 1994 and 2023: Tampa experienced an average inflation rate of 2.93% per year. This rate of change indicates significant inflation. In other words, $20 in Tampa in the year 1994 would cost $46.21 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.52% during this same period, inflation in Tampa was higher.

In the year 1994: Pricing changed by 2.02%, which is below the average yearly change in Tampa during the 1994-2023 time period. Compared to inflation for all items in 1994 (2.60%), inflation in Tampa was lower.

Price Inflation in Tampa, Florida since 1987

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

Years with the largest changes in pricing: 2022 (10.34%), 2023 (6.82%), and 2021 (6.03%).

View price changes for other categories
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Buying power of $20.00 since 1994

Below are calculations of equivalent buying power in Tampa, over time, for $20 beginning in 1994. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
1994	$20.00	2.02%
1995	$20.51	2.53%
1996	$20.81	1.46%
1997	$21.19	1.82%
1998	$21.74	2.61%
1999	$22.23	2.25%
2000	$23.04	3.63%
2001	$23.53	2.13%
2002	$24.33	3.43%
2003	$25.00	2.73%
2004	$25.61	2.47%
2005	$26.64	4.01%
2006	$27.70	3.98%
2007	$29.14	5.19%
2008	$30.06	3.17%
2009	$30.02	-0.12%
2010	$30.59	1.90%
2011	$31.45	2.81%
2012	$32.20	2.36%
2013	$32.69	1.55%
2014	$33.33	1.95%
2015	$33.45	0.35%
2016	$33.84	1.17%
2017	$34.70	2.53%
2018	$35.46	2.19%
2019	$36.07	1.73%
2020	$36.97	2.50%
2021	$39.20	6.03%
2022	$43.26	10.34%
2023	$46.21	6.82%*

* 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 Tampa, Florida:

Year	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
CPI	100.000	103.700	107.200	111.700	116.400	119.200	124.000	126.500	129.700	131.600	134.000	137.500	140.600	145.700	148.800	153.900	158.100	162.000	168.500	175.200	184.288	190.136	189.905	193.504	198.938	203.637	206.786	210.815	211.557	214.037	219.461	224.263	228.134	233.844	247.951	273.597	292.258

Adjust Tampa prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1994 * 1994 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Tampa, Florida was 126.500 in the year 1994 and 292.258 in 2023:

292.258 / 126.500 * $20 = $46.21

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1994 has the same "purchasing power" as $46.21 in 2023 (in the CPI category of Tampa, Florida).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Tampa, Florida in 1987. In addition to Tampa, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.