According to the U.S. Bureau of Labor Statistics, prices for tools, hardware and supplies are 22.61% higher in 2024 versus 1998 (a $4.52 difference in value).
Between 1998 and 2024: Tools, hardware and supplies experienced an average inflation rate of 0.79% per year. In other words, tools, hardware and supplies costing $20 in the year 1998 would cost $24.52 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for tools, hardware and supplies was lower.
In the year 1998: Pricing changed by -1.46%, which is below the average yearly change for tools, hardware and supplies during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for tools, hardware and supplies was much lower.
Below are calculations of equivalent buying power for Tools, hardware and supplies, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $20.00 | -1.46% |
| 1999 | $19.62 | -1.88% |
| 2000 | $19.75 | 0.64% |
| 2001 | $19.63 | -0.59% |
| 2002 | $19.39 | -1.25% |
| 2003 | $18.93 | -2.34% |
| 2004 | $19.24 | 1.60% |
| 2005 | $19.91 | 3.49% |
| 2006 | $20.18 | 1.38% |
| 2007 | $20.24 | 0.27% |
| 2008 | $20.08 | -0.76% |
| 2009 | $20.14 | 0.29% |
| 2010 | $19.59 | -2.74% |
| 2011 | $19.91 | 1.62% |
| 2012 | $20.22 | 1.55% |
| 2013 | $20.43 | 1.08% |
| 2014 | $20.34 | -0.47% |
| 2015 | $20.31 | -0.14% |
| 2016 | $19.95 | -1.76% |
| 2017 | $19.86 | -0.46% |
| 2018 | $20.00 | 0.68% |
| 2019 | $20.24 | 1.21% |
| 2020 | $20.37 | 0.64% |
| 2021 | $21.19 | 4.03% |
| 2022 | $23.47 | 10.74% |
| 2023 | $24.97 | 6.42% |
| 2024 | $24.52 | -1.80%* |
* 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 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 | 98.538 | 96.685 | 97.308 | 96.731 | 95.523 | 93.285 | 94.777 | 98.085 | 99.438 | 99.711 | 98.953 | 99.244 | 96.527 | 98.087 | 99.609 | 100.681 | 100.211 | 100.072 | 98.315 | 97.861 | 98.522 | 99.710 | 100.351 | 104.400 | 115.617 | 123.034 | 120.815 |