$100 in 2007 is worth $147 in 2023,
because prices increased 47.0% over that period, an average of
2.44% a year.
$100 in 2007 has
the same buying power as
$147
in 2023
Detailed inflation statistics
Cumulative price change
47.0%
Average inflation rate
2.44% per year
Converted amount ($100 base)
$147
Price difference ($100 base)
$46.96
CPI in 2007
207.342
CPI in 2023
304.702
Inflation in 2007
2.85%
Inflation in 2023
4.12%
$100 in 2007 → 2023
$147
$100 in 2023 → 2007
$68.05
What happened to prices between 2007 and 2023
Between 2007 and 2023, the Consumer Price Index went from 207.342 to 304.702.
Cumulatively, prices increased 47.0%, which works out to an average of
2.44% per year. Put differently, a dollar in 2007 bought what
$0.68 buys in 2023: the 2007 dollar
lost 32.0% of its purchasing power over
these 16 years.
Inflation was 2.8% in 2007, with gasoline averaging $2.80 a gallon, but the year is better
known for what began underneath prices. In August, French bank BNP Paribas froze funds tied to
U.S. subprime mortgages, and credit between banks tightened. The Federal Reserve responded with
a half-point cut on September 18, its first in four years, and took the policy rate from 5.25% to
4.25% by December. The economy peaked that month, by the National Bureau of Economic Research’s
dating, and the Great Recession followed. The median household earned about $50,200, and the
median new home cost $247,900. Congress ended the decade-long freeze on the federal minimum wage
in May, with the first of three steps to $5.85 in July. A first-class stamp cost 41 cents.
Every 2007 amount converts to 2023 at the same ratio, 1.47: $1,000 becomes
$1,470, and $10,000 becomes $14,696.
Amount in 2007
Value in 2023
$1.00
$1.47
$5.00
$7.35
$10.00
$14.70
$20.00
$29.39
$50.00
$73.48
$100
$147
$500
$735
$1,000
$1,470
$5,000
$7,348
$10,000
$14,696
$100,000
$146,956
$1,000,000
$1,469,562
Inflation by spending category, 2007–2023
Between 2007 and 2023, food rose the most, up 59.2%, while apparel rose the least, up 9.7%, against 47.0% for all items. The headline number is an average; here is what $100 of 2007
spending costs in 2023, by category:
Category
Avg. yearly inflation
$100 in 2007 →
All items (CPI-U)
2.44%
$147
Food
2.95%
$159
Medical care
2.84%
$156
Housing
2.68%
$153
Core (all items less food & energy)
2.41%
$146
Transportation
2.33%
$145
Energy
1.96%
$136
Recreation
1.26%
$122
Education & communication
1.22%
$121
Apparel
0.58%
$110
Decade by decade: 2007 to 2023
Prices climbed fastest in the 2020s, averaging 5.59% a year, and slowest in the 2000s (1.69% a year). Each step below chains into the full 2007–2023 change:
Years
Avg. yearly inflation
Price change
$100 from 2007, at end
2007–2010
1.69%
5.2%
$105
2010–2020
1.73%
18.7%
$125
2020–2023
5.59%
17.7%
$147
Year by year: CPI and the value of $100 from 2007
$100 from 2007 had already become $114 by
2015, on its way to $147 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 2007 had the buying
power of $147; 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 2007 to 2023: $100 is worth $147 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2007-to-2023/
APA: InflationCalculator.com. Inflation from 2007 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2007-to-2023/