$100 in 2014 is worth $129 in 2023,
because prices increased 28.7% over that period, an average of
2.84% a year.
$100 in 2014 has
the same buying power as
$129
in 2023
Detailed inflation statistics
Cumulative price change
28.7%
Average inflation rate
2.84% per year
Converted amount ($100 base)
$129
Price difference ($100 base)
$28.71
CPI in 2014
236.736
CPI in 2023
304.702
Inflation in 2014
1.62%
Inflation in 2023
4.12%
$100 in 2014 → 2023
$129
$100 in 2023 → 2014
$77.69
What happened to prices between 2014 and 2023
Between 2014 and 2023, the Consumer Price Index went from 236.736 to 304.702.
Cumulatively, prices increased 28.7%, which works out to an average of
2.84% per year. Put differently, a dollar in 2014 bought what
$0.78 buys in 2023: the 2014 dollar
lost 22.3% of its purchasing power over
these 9 years.
2014 ended with the sharpest oil price drop in years. Consumer prices rose
1.6% for the year, close to 2013’s pace, but the annual figure hid a shift at
the pump: crude oil fell from above $100 a barrel in June to below $60 in
December, and gasoline finished the year near $2.25 a gallon after averaging
$3.37 across 2014. The drop reflected record U.S. shale output, softer
global demand, and OPEC’s decision in November to keep producing.
For households, cheaper fuel arrived just as the labor market strengthened.
Median household income was $53,657, essentially flat on the prior year, and
the median new home sold for about $288,500. The federal minimum wage stayed
at $7.25 for a fifth year, and a first-class stamp rose to 49 cents.
The Federal Reserve ended its bond purchases in October but left its policy
rate at zero. A stronger dollar helped hold down import prices. Because
energy weighs heavily in the CPI, the late-year slide carried into 2015, which
posted the smallest annual increase of the decade.
Every 2014 amount converts to 2023 at the same ratio, 1.29: $1,000 becomes
$1,287, and $10,000 becomes $12,871.
Amount in 2014
Value in 2023
$1.00
$1.29
$5.00
$6.44
$10.00
$12.87
$20.00
$25.74
$50.00
$64.35
$100
$129
$500
$644
$1,000
$1,287
$5,000
$6,435
$10,000
$12,871
$100,000
$128,710
$1,000,000
$1,287,096
Inflation by spending category, 2014–2023
Between 2014 and 2023, housing rose the most, up 37.3%, while apparel rose the least, up 2.4%, against 28.7% for all items. The headline number is an average; here is what $100 of 2014
spending costs in 2023, by category:
Category
Avg. yearly inflation
$100 in 2014 →
All items (CPI-U)
2.84%
$129
Housing
3.58%
$137
Food
3.22%
$133
Core (all items less food & energy)
2.93%
$130
Medical care
2.61%
$126
Transportation
2.39%
$124
Recreation
1.84%
$118
Energy
1.69%
$116
Education & communication
0.61%
$106
Apparel
0.26%
$102
Decade by decade: 2014 to 2023
Prices climbed fastest in the 2020s, averaging 5.59% a year, and slowest in the 2010s (1.50% a year). Each step below chains into the full 2014–2023 change:
Years
Avg. yearly inflation
Price change
$100 from 2014, at end
2014–2020
1.50%
9.3%
$109
2020–2023
5.59%
17.7%
$129
Year by year: CPI and the value of $100 from 2014
$100 from 2014 had already become $106 by
2018, on its way to $129 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 2014 had the buying
power of $129; 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 2014 to 2023: $100 is worth $129 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2014-to-2023/
APA: InflationCalculator.com. Inflation from 2014 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2014-to-2023/