According to the U.S. Bureau of Labor Statistics, prices for commodities are 57.42% higher in 2024 versus 1998 (a $11.48 difference in value).
Between 1998 and 2024: Commodities experienced an average inflation rate of 1.76% per year. In other words, commodities costing $20 in the year 1998 would cost $31.48 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for commodities was lower.
In the year 1998: Pricing changed by 0.06%, which is below the average yearly change for commodities during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for commodities was lower.
Below are calculations of equivalent buying power for Commodities, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $20.00 | 0.06% |
| 1999 | $20.35 | 1.77% |
| 2000 | $21.02 | 3.29% |
| 2001 | $21.23 | 0.98% |
| 2002 | $21.10 | -0.62% |
| 2003 | $21.31 | 0.98% |
| 2004 | $21.81 | 2.35% |
| 2005 | $22.57 | 3.50% |
| 2006 | $23.11 | 2.40% |
| 2007 | $23.61 | 2.14% |
| 2008 | $24.63 | 4.33% |
| 2009 | $23.91 | -2.90% |
| 2010 | $24.60 | 2.87% |
| 2011 | $25.91 | 5.33% |
| 2012 | $26.43 | 2.02% |
| 2013 | $26.45 | 0.05% |
| 2014 | $26.49 | 0.15% |
| 2015 | $25.61 | -3.32% |
| 2016 | $25.26 | -1.36% |
| 2017 | $25.54 | 1.12% |
| 2018 | $26.02 | 1.86% |
| 2019 | $26.11 | 0.35% |
| 2020 | $26.04 | -0.25% |
| 2021 | $28.08 | 7.81% |
| 2022 | $31.13 | 10.90% |
| 2023 | $31.49 | 1.16% |
| 2024 | $31.48 | -0.04%* |
* 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 Commodities:
| Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 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 | 14.875 | 15.067 | 15.720 | 15.040 | 14.780 | 14.920 | 16.080 | 18.400 | 19.940 | 20.120 | 20.720 | 23.280 | 27.720 | 29.580 | 28.720 | 29.120 | 31.720 | 31.960 | 31.860 | 31.560 | 31.300 | 31.577 | 32.577 | 33.315 | 33.354 | 33.608 | 33.838 | 34.100 | 34.438 | 34.769 | 35.185 | 36.092 | 36.769 | 38.108 | 39.854 | 41.708 | 43.169 | 44.469 | 47.754 | 53.477 | 58.238 | 60.738 | 64.223 | 68.777 | 76.631 | 85.992 | 93.215 | 96.977 | 99.838 | 103.208 | 105.377 | 104.369 | 107.723 | 111.492 | 116.700 | 122.785 | 126.623 | 129.115 | 131.508 | 133.754 | 136.431 | 139.892 | 141.838 | 141.923 | 144.431 | 149.185 | 150.654 | 149.723 | 151.185 | 154.738 | 160.162 | 164.000 | 167.509 | 174.764 | 169.698 | 174.566 | 183.862 | 187.577 | 187.670 | 187.943 | 181.703 | 179.236 | 181.242 | 184.617 | 185.266 | 184.799 | 199.227 | 220.936 | 223.492 | 223.409 |