$100 in 2012 is worth $133 in 2023,
because prices increased 32.7% over that period, an average of
2.61% a year.
$100 in 2012 has
the same buying power as
$133
in 2023
Detailed inflation statistics
Cumulative price change
32.7%
Average inflation rate
2.61% per year
Converted amount ($100 base)
$133
Price difference ($100 base)
$32.71
CPI in 2012
229.594
CPI in 2023
304.702
Inflation in 2012
2.07%
Inflation in 2023
4.12%
$100 in 2012 → 2023
$133
$100 in 2023 → 2012
$75.35
What happened to prices between 2012 and 2023
Between 2012 and 2023, the Consumer Price Index went from 229.594 to 304.702.
Cumulatively, prices increased 32.7%, which works out to an average of
2.61% per year. Put differently, a dollar in 2012 bought what
$0.75 buys in 2023: the 2012 dollar
lost 24.6% of its purchasing power over
these 11 years.
2012 put a number on what the Federal Reserve was aiming for. In January the
Fed announced a 2% inflation target, and consumer prices rose 2.1% for the
year, almost exactly on it. Gasoline averaged $3.62 a gallon, another annual
high, but the pace of increase cooled from 2011’s 3.2% as food and core prices
grew more slowly.
The bigger story was housing and jobs. Home prices began to recover, and the
median new home sold for about $245,200, up from $227,200 the year before.
Median household income was $51,017. The federal minimum wage held at $7.25,
and a first-class stamp rose to 45 cents.
In September the Fed started a third round of asset purchases, this one with
no fixed end date, aimed at lowering unemployment. Overseas, the European
Central Bank’s July pledge to do “whatever it takes” to save the euro calmed
bond markets. A summer drought across the Midwest drove corn and soybean
prices to records, a shock that reached grocery shelves only partly, because
most of what shoppers pay for food covers processing and transport rather than
raw crops.
Every 2012 amount converts to 2023 at the same ratio, 1.33: $1,000 becomes
$1,327, and $10,000 becomes $13,271.
Amount in 2012
Value in 2023
$1.00
$1.33
$5.00
$6.64
$10.00
$13.27
$20.00
$26.54
$50.00
$66.36
$100
$133
$500
$664
$1,000
$1,327
$5,000
$6,636
$10,000
$13,271
$100,000
$132,713
$1,000,000
$1,327,134
Inflation by spending category, 2012–2023
Between 2012 and 2023, housing rose the most, up 43.8%, while apparel rose the least, up 3.4%, against 32.7% for all items. The headline number is an average; here is what $100 of 2012
spending costs in 2023, by category:
Category
Avg. yearly inflation
$100 in 2012 →
All items (CPI-U)
2.61%
$133
Housing
3.35%
$144
Food
2.98%
$138
Core (all items less food & energy)
2.71%
$134
Medical care
2.58%
$132
Transportation
1.89%
$123
Recreation
1.57%
$119
Energy
1.29%
$115
Education & communication
0.74%
$108
Apparel
0.31%
$103
Decade by decade: 2012 to 2023
Prices climbed fastest in the 2020s, averaging 5.59% a year, and slowest in the 2010s (1.51% a year). Each step below chains into the full 2012–2023 change:
Years
Avg. yearly inflation
Price change
$100 from 2012, at end
2012–2020
1.51%
12.7%
$113
2020–2023
5.59%
17.7%
$133
Year by year: CPI and the value of $100 from 2012
$100 from 2012 had already become $107 by
2017, on its way to $133 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 the smallest rise was 0.1% in 2015.
In 2023, prices rose 4.1% and $100 from 2012 had the buying
power of $133; 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 2012 to 2023: $100 is worth $133 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2012-to-2023/
APA: InflationCalculator.com. Inflation from 2012 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2012-to-2023/