New York prices: $20 in 2023 $9.83 in 1994

Inflation in New York

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Prices in New York, 2023-1994 ($20)

According to the U.S. Bureau of Labor Statistics, prices in New York were 50.87% lower in 1994 versus 2023 (a $10.17 difference in value).

Between 2023 and 1994: New York experienced an average inflation rate of -2.42% per year. This rate of change indicates significant deflation. In other words, $20 in New York in the year 2023 would cost $9.83 in 1994 for an equivalent purchase. Compared to the overall inflation rate of -2.45% during this same period, inflation in New York was higher.

In the year 2023: Pricing changed by 3.82%, which is significantly above the average yearly change in New York during the 2023-1994 time period. Compared to inflation for all items in 2023 (4.12%), inflation in New York was lower.

Price Inflation in New York since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics
1915192019251930193519401945195019551960196519701975198019851990199520002005201020152020-100102030
Years with the largest changes in pricing: 1919 (22.12%), 1918 (22.09%), and 1920 (17.24%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power in New York, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2023$20.003.82%
2024$20.763.79%*

* 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 New York:

Year191419151916191719181919192019211922192319241925192619271928192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI9.9009.91710.20011.50814.05017.15820.11718.40817.28317.45817.49217.76718.26718.05017.87517.80817.57516.36714.95013.93314.19214.37514.55014.86714.61714.55014.70015.25016.71717.96718.40018.82520.68323.16724.74224.46724.60826.44226.90027.04227.20827.08327.48328.35829.20829.65030.19230.45830.92531.60032.09232.60833.70834.58336.07538.30841.15043.53345.45048.34253.54257.60860.99264.16767.85073.72582.05090.12595.33399.833104.833108.708112.275117.950123.683130.558138.542144.800150.025154.508158.183162.158166.925170.817173.608176.983182.483187.133191.900197.792204.767212.708220.742226.940235.782236.825240.864247.718252.588256.833260.230260.558263.365268.520273.641278.164282.920292.303310.141321.998334.209

Adjust New York prices for inflation

Start with the inflation rate formula:

CPI in 1994 / CPI in 2023 * 2023 USD value = 1994 USD value

Then plug in historical CPI values from above. The CPI for New York was 321.998 in the year 2023 and 158.183 in 1994:

158.183 / 321.998 * $20 = $9.83

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $9.83 in 1994 (in the CPI category of New York).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New York in 1914. In addition to New York, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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