According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 23.18% higher in 2023 versus 2020 (a $0.23 difference in value).
Between 2020 and 2023: Phoenix experienced an average inflation rate of 7.20% per year. This rate of change indicates significant inflation. In other words, $1 in Phoenix in the year 2020 would cost $1.23 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.59% during this same period, inflation in Phoenix was higher.
In the year 2020: Pricing changed by 1.96%, which is significantly below the average yearly change in Phoenix during the 2020-2023 time period. Compared to inflation for all items in 2020 (1.23%), inflation in Phoenix was higher.
Below are calculations of equivalent buying power in Phoenix, over time, for $1 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2020 | $1.00 | 1.96% |
| 2021 | $1.05 | 5.01% |
| 2022 | $1.17 | 11.51% |
| 2023 | $1.23 | 5.18%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Phoenix, Arizona:
| Year | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| CPI | 101.200 | 103.300 | 105.200 | 108.300 | 111.500 | 115.284 | 119.264 | 117.568 | 118.227 | 121.483 | 124.197 | 125.782 | 127.823 | 128.019 | 130.107 | 133.324 | 138.875 | 142.920 | 145.724 | 153.032 | 170.652 | 179.497 |