Phoenix, Arizona prices: $350 in 2012 → $517.07 in 2024

Inflation in Arizona

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Prices in Phoenix, 2012-2024 ($350)

According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 47.73% higher in 2024 versus 2012 (a $167.07 difference in value).

Between 2012 and 2024: Phoenix experienced an average inflation rate of 3.31% per year. This rate of change indicates significant inflation. In other words, $350 in Phoenix in the year 2012 would cost $517.07 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.63% during this same period, inflation in Phoenix was higher.

In the year 2012: Pricing changed by 2.23%, which is below the average yearly change in Phoenix during the 2012-2024 time period. Compared to inflation for all items in 2012 (2.07%), inflation in Phoenix was higher.

Price Inflation in Phoenix, Arizona since 2002

Consumer Price Index, U.S. Bureau of Labor Statistics
2005201020152020-1001020
Years with the largest changes in pricing: 2022 (11.51%), 2023 (5.18%), and 2021 (5.01%).
View price changes for other categories
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Buying power of $350.00 since 2012

Below are calculations of equivalent buying power in Phoenix, over time, for $350 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2012$350.002.23%
2013$354.471.28%
2014$360.221.62%
2015$360.770.15%
2016$366.651.63%
2017$375.722.47%
2018$391.364.16%
2019$402.762.91%
2020$410.671.96%
2021$431.265.01%
2022$480.9111.51%
2023$505.845.18%
2024$517.072.22%*

* 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:

Year20022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI101.200103.300105.200108.300111.500115.284119.264117.568118.227121.483124.197125.782127.823128.019130.107133.324138.875142.920145.724153.032170.652179.497183.481

Adjust Phoenix prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2012 * 2012 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Phoenix, Arizona was 124.197 in the year 2012 and 183.481 in 2024:

183.481 / 124.197 * $350 = $517.07

Therefore, according to U.S. Bureau of Labor Statistics, $350 in 2012 has the same "purchasing power" as $517.07 in 2024 (in the CPI category of Phoenix, Arizona).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Phoenix, Arizona in 2002. In addition to Phoenix, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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