Dallas price inflation, 2016→2023

Inflation in Texas

Prices in Dallas, 2016-2023 ($1)

According to the U.S. Bureau of Labor Statistics, prices in Dallas-Fort Worth, Texas are 29.72% higher in 2023 versus 2016 (a $0.30 difference in value).

Between 2016 and 2023: Dallas experienced an average inflation rate of 3.79% per year. This rate of change indicates significant inflation. In other words, $1 in Dallas in the year 2016 would cost $1.30 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.45% during this same period, inflation in Dallas was higher.

In the year 2016: Pricing changed by 1.40%, which is below the average yearly change in Dallas during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation in Dallas was higher.

Price Inflation in Dallas-Fort Worth, Texas since 1963

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1980 (16.95%), 1979 (12.42%), and 1981 (11.74%).

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Buying power of $1.00 since 2016

Below are calculations of equivalent buying power in Dallas, over time, for $1 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2016	$1.00	1.40%
2017	$1.03	2.55%
2018	$1.06	2.94%
2019	$1.08	2.10%
2020	$1.08	0.62%
2021	$1.14	5.03%
2022	$1.24	8.83%
2023	$1.30	4.64%*

* 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 Dallas-Fort Worth, Texas:

Year	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
CPI	29.500	29.533	29.850	30.883	31.833	33.150	35.242	37.433	38.583	39.708	41.767	45.908	50.150	53.208	57.125	61.592	69.242	80.975	90.483	95.950	99.458	104.133	108.033	109.925	112.667	115.942	119.408	124.808	130.650	133.817	137.167	141.042	144.717	148.675	151.325	153.467	157.800	164.433	170.233	172.550	176.183	178.533	184.300	190.050	192.904	201.730	200.399	201.579	207.683	212.041	215.888	218.451	217.359	220.408	226.025	232.676	237.561	239.035	251.066	273.224	285.915

Adjust Dallas prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2016 * 2016 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Dallas-Fort Worth, Texas was 220.408 in the year 2016 and 285.915 in 2023:

285.915 / 220.408 * $1 = $1.30

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 2016 has the same "purchasing power" as $1.30 in 2023 (in the CPI category of Dallas-Fort Worth, Texas).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Dallas-Fort Worth, Texas in 1963. In addition to Dallas, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.