According to the U.S. Bureau of Labor Statistics, prices for tools, hardware and supplies are 4.50% higher in 2024 versus 2022 (a $0.90 difference in value).
Between 2022 and 2024: Tools, hardware and supplies experienced an average inflation rate of 2.22% per year. This rate of change indicates significant inflation. In other words, tools, hardware and supplies costing $20 in the year 2022 would cost $20.90 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation for tools, hardware and supplies was lower.
In the year 2022: Pricing changed by 10.74%, which is significantly above the average yearly change for tools, hardware and supplies during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), inflation for tools, hardware and supplies was higher.
Below are calculations of equivalent buying power for Tools, hardware and supplies, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2022 | $20.00 | 10.74% |
| 2023 | $21.28 | 6.42% |
| 2024 | $20.90 | -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 |