U.S. inflation · 2023–2024
$100 in 2023 has the same buying power as
$103
in 2024
| Cumulative price change | 2.9% |
|---|---|
| Average inflation rate | 2.95% per year |
| Converted amount ($100 base) | $103 |
| Price difference ($100 base) | $2.95 |
| CPI in 2023 | 304.702 |
| CPI in 2024 | 313.689 |
| Inflation in 2023 | 4.12% |
| Inflation in 2024 | 2.95% |
| $100 in 2023 → 2024 | $103 |
| $100 in 2024 → 2023 | $97.14 |
Between 2023 and 2024, the Consumer Price Index went from 304.702 to 313.689. Cumulatively, prices increased 2.9%, which works out to an average of 2.95% per year. Put differently, a dollar in 2023 bought what $0.97 buys in 2024.
| Amount in 2023 | Value in 2024 |
|---|---|
| $1.00 | $1.03 |
| $5.00 | $5.15 |
| $10.00 | $10.29 |
| $20.00 | $20.59 |
| $50.00 | $51.47 |
| $100 | $103 |
| $500 | $515 |
| $1,000 | $1,029 |
| $5,000 | $5,147 |
| $10,000 | $10,295 |
| $100,000 | $102,949 |
| $1,000,000 | $1,029,494 |
The headline number is an average. Individual categories moved very differently over this period. Here is what $100 of 2023 spending costs in 2024, by category:
| Category | Avg. yearly inflation | $100 in 2023 → |
|---|---|---|
| All items (CPI-U) | 2.95% | $103 |
| Housing | 4.37% | $104 |
| Core (all items less food & energy) | 3.44% | $103 |
| Medical care | 2.69% | $103 |
| Food | 2.26% | $102 |
| Recreation | 1.51% | $102 |
| Transportation | 1.39% | $101 |
| Apparel | 0.69% | $101 |
| Education & communication | 0.60% | $101 |
| Energy | -1.32% | $98.68 |
| Year | CPI | Inflation rate | $100 from 2023 |
|---|---|---|---|
| 2023 | 304.702 | 4.1% | $100 |
| 2024 | 313.689 | 2.9% | $103 |
MLA: “Inflation from 2023 to 2024: $100 is worth $103 today.” InflationCalculator.com, U.S. Bureau of Labor Statistics CPI-U data, https://inflationcalculator.com/inflation/2023-to-2024/
APA: InflationCalculator.com. Inflation from 2023 to 2024. Based on U.S. Bureau of Labor Statistics CPI-U data. Retrieved from https://inflationcalculator.com/inflation/2023-to-2024/
Source: U.S. Bureau of Labor Statistics, CPI-U annual averages (series CUUR0000SA0; category indexes listed on the data sources page). See how these numbers are calculated.