According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 77.37% higher in 2023 versus 2002 (a $15.47 difference in value).
Between 2002 and 2023: Phoenix experienced an average inflation rate of 2.77% per year. This rate of change indicates significant inflation. In other words, $20 in Phoenix in the year 2002 would cost $35.47 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation in Phoenix was higher.
Below are calculations of equivalent buying power in Phoenix, over time, for $20 beginning in 2002. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2002 | $20.00 | - |
| 2003 | $20.42 | 2.08% |
| 2004 | $20.79 | 1.84% |
| 2005 | $21.40 | 2.95% |
| 2006 | $22.04 | 2.95% |
| 2007 | $22.78 | 3.39% |
| 2008 | $23.57 | 3.45% |
| 2009 | $23.23 | -1.42% |
| 2010 | $23.37 | 0.56% |
| 2011 | $24.01 | 2.75% |
| 2012 | $24.54 | 2.23% |
| 2013 | $24.86 | 1.28% |
| 2014 | $25.26 | 1.62% |
| 2015 | $25.30 | 0.15% |
| 2016 | $25.71 | 1.63% |
| 2017 | $26.35 | 2.47% |
| 2018 | $27.45 | 4.16% |
| 2019 | $28.25 | 2.91% |
| 2020 | $28.80 | 1.96% |
| 2021 | $30.24 | 5.01% |
| 2022 | $33.73 | 11.51% |
| 2023 | $35.47 | 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 |