Tools, hardware, outdoor equipment and supplies priced at $20 in 2020 $22.75 in 2022

Tools, Hardware, Outdoor Equipment And Supplies Inflation Calculator

$

Prices for Tools, Hardware, Outdoor Equipment And Supplies, 2020-2022 ($20)

According to the U.S. Bureau of Labor Statistics, prices for tools, hardware, outdoor equipment and supplies are 13.76% higher in 2022 versus 2020 (a $2.75 difference in value).

Between 2020 and 2022: Tools, hardware, outdoor equipment and supplies experienced an average inflation rate of 6.66% 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 $22.75 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 6.17% during this same period, inflation for tools, hardware, outdoor equipment and supplies was higher.

In the year 2020: Pricing changed by 1.84%, which is significantly below the average yearly change for tools, hardware, outdoor equipment and supplies during the 2020-2022 time period. Compared to inflation for all items in 2020 (1.23%), inflation for tools, hardware, outdoor equipment and supplies was higher.

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 (9.94%), 2021 (3.47%), and 2010 (-2.71%).

View price changes for other categories
Fresh fruits · Parking fees and tolls · Dental services · Indoor plants and flowers · More

Buying power of $20.00 since 2020

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:

YearUSD ValueInflation Rate
2020$20.001.84%
2021$20.693.47%
2022$22.759.94%*

* 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:

Year19971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI100.000100.33899.03897.00896.66295.73894.00893.48594.36294.58594.56993.45494.17091.61891.62891.98292.03491.27691.08190.13089.57689.53190.89992.56995.782105.305

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

Start with the inflation rate formula:

CPI in 2022 / CPI in 2020 * 2020 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Tools, hardware, outdoor equipment and supplies was 92.569 in the year 2020 and 105.305 in 2022:

105.305 / 92.569 * $20 = $22.75

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2020 has the same "purchasing power" as $22.75 in 2022 (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.

» Read more about inflation and investment.