Tools, hardware, outdoor equipment and supplies priced at $20 in 2007 $24.18 in 2023

Tools, Hardware, Outdoor Equipment And Supplies Inflation Calculator

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Prices for Tools, Hardware, Outdoor Equipment And Supplies, 2007-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for tools, hardware, outdoor equipment and supplies are 20.92% higher in 2023 versus 2007 (a $4.18 difference in value).

Between 2007 and 2023: Tools, hardware, outdoor equipment and supplies experienced an average inflation rate of 1.19% per year. In other words, tools, hardware, outdoor equipment and supplies costing $20 in the year 2007 would cost $24.18 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.43% during this same period, inflation for tools, hardware, outdoor equipment and supplies was lower.

In the year 2007: Pricing changed by -0.02%, which is below the average yearly change for tools, hardware, outdoor equipment and supplies during the 2007-2023 time period. Compared to inflation for all items in 2007 (2.85%), inflation for tools, hardware, outdoor equipment and supplies was lower.

Price Inflation for Tools, hardware, outdoor equipment and supplies since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2022 (10.86%), 2023 (7.69%), and 2021 (3.47%).

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Buying power of $20.00 since 2007

Below are calculations of equivalent buying power for Tools, hardware, outdoor equipment and supplies, over time, for $20 beginning in 2007. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2007$20.00-0.02%
2008$19.76-1.18%
2009$19.920.77%
2010$19.38-2.71%
2011$19.380.01%
2012$19.450.39%
2013$19.460.06%
2014$19.30-0.82%
2015$19.26-0.21%
2016$19.06-1.04%
2017$18.94-0.62%
2018$18.93-0.05%
2019$19.221.53%
2020$19.581.84%
2021$20.263.47%
2022$22.4610.86%
2023$24.187.69%*

* 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 Tools, hardware, outdoor equipment and supplies:

Year199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI100.000100.33899.03897.00896.66295.73894.00893.48594.36294.58594.56993.45494.17091.61891.62891.98292.03491.27691.08190.13089.57689.53190.89992.56995.782106.188114.354

Adjust tools, hardware, outdoor equipment and supplies prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2007 * 2007 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Tools, hardware, outdoor equipment and supplies was 94.569 in the year 2007 and 114.354 in 2023:

114.354 / 94.569 * $20 = $24.18

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2007 has the same "purchasing power" as $24.18 in 2023 (in the CPI category of Tools, hardware, outdoor equipment and supplies).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Tools, hardware, outdoor equipment and supplies in 1997. In addition to tools, hardware, outdoor equipment and supplies, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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