$100 in 2022 is worth $104 in 2023,
because prices increased 4.1% over that period, an average of
4.12% a year.
$100 in 2022 has
the same buying power as
$104
in 2023
Detailed inflation statistics
Cumulative price change
4.1%
Average inflation rate
4.12% per year
Converted amount ($100 base)
$104
Price difference ($100 base)
$4.12
CPI in 2022
292.655
CPI in 2023
304.702
Inflation in 2022
8.00%
Inflation in 2023
4.12%
$100 in 2022 → 2023
$104
$100 in 2023 → 2022
$96.05
What happened to prices between 2022 and 2023
Between 2022 and 2023, the Consumer Price Index went from 292.655 to 304.702.
Cumulatively, prices increased 4.1%, which works out to an average of
4.12% per year. Put differently, a dollar in 2022 bought what
$0.96 buys in 2023: the 2022 dollar
lost 4.0% of its purchasing power over
these 1 years.
2022 was the year inflation returned. Consumer prices rose 8.0% on average,
the worst since 1981, driven by pandemic-era supply chains, stimulus-fueled
demand, and an energy shock from the war in Ukraine. Gas briefly topped $5 a
gallon nationally for the first time ever, and “inflation” became the
top-ranked economic concern in nearly every poll of American households.
Every 2022 amount converts to 2023 at the same ratio, 1.04: $1,000 becomes
$1,041, and $10,000 becomes $10,412.
Amount in 2022
Value in 2023
$1.00
$1.04
$5.00
$5.21
$10.00
$10.41
$20.00
$20.82
$50.00
$52.06
$100
$104
$500
$521
$1,000
$1,041
$5,000
$5,206
$10,000
$10,412
$100,000
$104,116
$1,000,000
$1,041,165
Inflation by spending category, 2022–2023
Between 2022 and 2023, housing rose the most, up 6.4%, while energy fell 5.0%, against 4.1% for all items. The headline number is an average; here is what $100 of 2022
spending costs in 2023, by category:
Category
Avg. yearly inflation
$100 in 2022 →
All items (CPI-U)
4.12%
$104
Housing
6.44%
$106
Food
5.76%
$106
Core (all items less food & energy)
4.78%
$105
Recreation
4.02%
$104
Apparel
2.75%
$103
Education & communication
0.97%
$101
Medical care
0.46%
$100
Transportation
0.24%
$100
Energy
-5.02%
$94.98
Year by year: CPI and the value of $100 from 2022
$100 from 2022grew to $104 by 2023; each row
shows the CPI, that year's inflation rate, and the running value.
In 2023, prices rose 4.1% and $100 from 2022 had the buying
power of $104; 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 2022 to 2023: $100 is worth $104 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2022-to-2023/
APA: InflationCalculator.com. Inflation from 2022 to 2023. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2022-to-2023/