According to the U.S. Bureau of Labor Statistics, prices for smartphones were 50.18% lower in 2023 versus 2019 (a $501.82 difference in value).
Between 2019 and 2023: Smartphones experienced an average inflation rate of -15.99% per year. This rate of change indicates significant deflation. In other words, smartphones costing $1,000 in the year 2019 would cost $498.18 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 4.49% during this same period, inflation for smartphones was significantly lower.
Below are calculations of equivalent buying power for Smartphones, over time, for $1,000 beginning in 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2019 | $1,000.00 | - |
| 2020 | $919.88 | -8.01% |
| 2021 | $749.39 | -18.53% |
| 2022 | $609.43 | -18.68% |
| 2023 | $498.18 | -18.26% |
| 2024 | $453.91 | -8.89%* |
* 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 Smartphones:
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 100.000 | 91.988 | 74.939 | 60.943 | 49.818 | 45.391 |