$100 in 2001 is worth $172 in 2023,
because prices increased 72.1% over that period, an average of
2.50% a year.
$100 in 2001 has
the same buying power as
$172
in 2023
Detailed inflation statistics
Cumulative price change
72.1%
Average inflation rate
2.50% per year
Converted amount ($100 base)
$172
Price difference ($100 base)
$72.05
CPI in 2001
177.1
CPI in 2023
304.702
Inflation in 2001
2.85%
Inflation in 2023
4.12%
$100 in 2001 → 2023
$172
$100 in 2023 → 2001
$58.12
What happened to prices between 2001 and 2023
Between 2001 and 2023, the Consumer Price Index went from 177.1 to 304.702.
Cumulatively, prices increased 72.1%, which works out to an average of
2.50% per year. Put differently, a dollar in 2001 bought what
$0.58 buys in 2023: the 2001 dollar
lost 41.9% of its purchasing power over
these 22 years.
Inflation fell to 2.8% in 2001 from 3.4% the year before, as a recession that began in March
cut demand and gasoline slid to an average of $1.46 a gallon. The median household earned about
$42,200, roughly flat from 2000, and a new home cost about $175,200. The Federal Reserve cut its
policy rate 11 times over the year, from 6.5% to 1.75%, the lowest since 1961. After the
September 11 attacks, U.S. stock markets closed for four trading days, and air travel dropped
sharply until the following year. Congress had already passed a $1.35 trillion tax cut in June,
which included rebate checks of up to $600. The National Bureau of Economic Research dates the
recession’s end at November, but unemployment kept rising into 2003. A first-class stamp went to
34 cents in January, and the federal minimum wage stayed at $5.15. The Fed’s cuts were the
first step in a long period of very cheap borrowing that would fuel the housing boom.
Every 2001 amount converts to 2023 at the same ratio, 1.72: $1,000 becomes
$1,721, and $10,000 becomes $17,205.
Amount in 2001
Value in 2023
$1.00
$1.72
$5.00
$8.60
$10.00
$17.21
$20.00
$34.41
$50.00
$86.03
$100
$172
$500
$860
$1,000
$1,721
$5,000
$8,603
$10,000
$17,205
$100,000
$172,051
$1,000,000
$1,720,508
Inflation by spending category, 2001–2023
Between 2001 and 2023, energy rose the most, up 119.1%, while apparel rose the least, up 2.6%, against 72.1% for all items. The headline number is an average; here is what $100 of 2001
spending costs in 2023, by category:
Category
Avg. yearly inflation
$100 in 2001 →
All items (CPI-U)
2.50%
$172
Energy
3.63%
$219
Medical care
3.23%
$201
Food
2.88%
$187
Housing
2.75%
$182
Transportation
2.52%
$173
Core (all items less food & energy)
2.32%
$166
Education & communication
1.48%
$138
Recreation
1.19%
$130
Apparel
0.12%
$103
Decade by decade: 2001 to 2023
Prices climbed fastest in the 2020s, averaging 5.59% a year, and slowest in the 2010s (1.73% a year). Each step below chains into the full 2001–2023 change:
Years
Avg. yearly inflation
Price change
$100 from 2001, at end
2001–2010
2.34%
23.1%
$123
2010–2020
1.73%
18.7%
$146
2020–2023
5.59%
17.7%
$172
Year by year: CPI and the value of $100 from 2001
$100 from 2001 had already become $130 by
2012, on its way to $172 in 2023; each row shows the CPI, that
year's inflation rate, and the running value.
Within the span, inflation peaked at 8.0% in 2022, and prices fell 0.4% in 2009, the deepest deflation of the period.
In 2023, prices rose 4.1% and $100 from 2001 had the buying
power of $172; the year's average CPI of 304.702 is the level
behind every 2023 figure on this page.
2023 was the year inflation came down without a recession. Consumer prices
rose 4.1% on average, roughly half of 2022’s 8.0%, and the December-to-December
rate fell to 3.4%. Gasoline averaged $3.52 a gallon, well below the 2022
average, and supply-chain pressure on goods eased. Shelter, restaurant meals,
and other services stayed expensive, so the CPI kept rising at a rate well
above the pre-pandemic pace.
The Federal Reserve completed its rate-hiking campaign in July, taking the
policy rate to 5.25–5.50%, the highest level in 22 years. The effects showed
up in banking: Silicon Valley Bank failed in March after rate increases eroded
the value of its bond portfolio, the second-largest bank failure in U.S.
history at the time. Despite that, unemployment stayed under 4% all year.
Median household income was $80,610 according to the Census Bureau. The
federal minimum wage stayed at $7.25, and a first-class stamp rose to 66 cents
in July.
MLA: “Inflation from 2001 to 2023: $100 is worth $172 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2001-to-2023/
APA: InflationCalculator.com. Inflation from 2001 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2001-to-2023/