According to the U.S. Bureau of Labor Statistics, prices for tools, hardware, outdoor equipment and supplies are 19.60% higher in 2024 versus 2020 (a $3.92 difference in value).
Between 2020 and 2024: Tools, hardware, outdoor equipment and supplies experienced an average inflation rate of 4.58% per year. This rate of change indicates significant inflation. In other words, tools, hardware, outdoor equipment and supplies costing $20 in the year 2020 would cost $23.92 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.91% during this same period, inflation for tools, hardware, outdoor equipment and supplies was lower.
In the year 2020: Pricing changed by 1.84%, which is below the average yearly change for tools, hardware, outdoor equipment and supplies during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for tools, hardware, outdoor equipment and supplies was higher.
Below are calculations of equivalent buying power for Tools, hardware, outdoor equipment and supplies, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2020 | $20.00 | 1.84% |
| 2021 | $20.69 | 3.47% |
| 2022 | $22.94 | 10.86% |
| 2023 | $24.65 | 7.42% |
| 2024 | $23.92 | -2.95%* |
* 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:
| Year | 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 | 100.338 | 99.038 | 97.008 | 96.662 | 95.738 | 94.008 | 93.485 | 94.362 | 94.585 | 94.569 | 93.454 | 94.170 | 91.618 | 91.628 | 91.982 | 92.034 | 91.276 | 91.081 | 90.130 | 89.576 | 89.531 | 90.899 | 92.569 | 95.782 | 106.188 | 114.072 | 110.709 |