Major appliances price inflation, 1997→2024

Major Appliances Inflation Calculator

Prices for Major Appliances, 1997-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for major appliances are 9.50% lower in 2024 versus 1997 (a $1.90 difference in value).

Between 1997 and 2024: Major appliances experienced an average inflation rate of -0.37% per year. In other words, major appliances costing $20 in the year 1997 would cost $18.10 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation for major appliances was lower.

Price Inflation for Major appliances since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2021 (10.77%), 2023 (-8.77%), and 2014 (-6.13%).

View price changes for other categories
Dental services · New cars · Boston, Massachusetts · Bananas · More

Buying power of $20.00 since 1997

Below are calculations of equivalent buying power for Major appliances, over time, for $20 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
1997	$20.00	-
1998	$19.92	-0.41%
1999	$19.60	-1.62%
2000	$19.44	-0.79%
2001	$19.38	-0.30%
2002	$19.26	-0.61%
2003	$18.71	-2.87%
2004	$18.09	-3.31%
2005	$18.71	3.39%
2006	$19.26	2.94%
2007	$19.99	3.79%
2008	$20.28	1.46%
2009	$20.38	0.52%
2010	$19.51	-4.29%
2011	$19.23	-1.42%
2012	$20.29	5.50%
2013	$19.83	-2.26%
2014	$18.61	-6.13%
2015	$17.60	-5.47%
2016	$16.64	-5.44%
2017	$15.86	-4.69%
2018	$16.52	4.20%
2019	$16.86	2.04%
2020	$17.64	4.64%
2021	$19.54	10.77%
2022	$20.63	5.54%
2023	$18.82	-8.77%
2024	$18.10	-3.81%*

* 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 Major appliances:

Year	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	100.000	99.592	97.977	97.208	96.915	96.323	93.562	90.462	93.531	96.277	99.928	101.385	101.909	97.541	96.154	101.447	99.151	93.075	87.984	83.195	79.291	82.621	84.310	88.223	97.721	103.137	94.091	90.504

Adjust major appliances prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1997 * 1997 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Major appliances was 100.000 in the year 1997 and 90.504 in 2024:

90.504 / 100.000 * $20 = $18.10

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1997 has the same "purchasing power" as $18.10 in 2024 (in the CPI category of Major appliances).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Major appliances in 1997. In addition to major appliances, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.