Information technology, hardware and services priced at $20 in 1988 $1.42 in 2024

Information Technology, Hardware And Services Inflation Calculator

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Prices for Information Technology, Hardware And Services, 1988-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for information technology, hardware and services are 92.92% lower in 2024 versus 1988 (a $18.58 difference in value).

Between 1988 and 2024: Information technology, hardware and services experienced an average inflation rate of -7.09% per year. This rate of change indicates significant deflation. In other words, information technology, hardware and services costing $20 in the year 1988 would cost $1.42 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.73% during this same period, inflation for information technology, hardware and services was significantly lower.

Price Inflation for Information technology, hardware and services since 1988

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1999 (-23.40%), 1998 (-20.38%), and 2001 (-17.59%).

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Buying power of $20.00 since 1988

Below are calculations of equivalent buying power for Information technology, hardware and services, over time, for $20 beginning in 1988. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1988$20.00-
1989$19.26-3.72%
1990$18.70-2.90%
1991$17.73-5.18%
1992$16.74-5.59%
1993$15.76-5.81%
1994$14.39-8.70%
1995$12.76-11.32%
1996$11.45-10.33%
1997$10.02-12.50%
1998$7.97-20.38%
1999$6.11-23.40%
2000$5.18-15.21%
2001$4.27-17.59%
2002$3.66-14.31%
2003$3.23-11.74%
2004$2.96-8.25%
2005$2.72-8.10%
2006$2.49-8.48%
2007$2.12-14.91%
2008$2.01-5.06%
2009$1.93-3.87%
2010$1.88-2.68%
2011$1.81-4.07%
2012$1.75-3.23%
2013$1.70-2.55%
2014$1.67-1.93%
2015$1.61-3.57%
2016$1.56-3.07%
2017$1.52-2.40%
2018$1.49-1.99%
2019$1.48-1.09%
2020$1.46-0.87%
2021$1.470.60%
2022$1.45-1.72%
2023$1.42-2.03%
2024$1.42-0.20%*

* 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 Information technology, hardware and services:

Year1988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.00096.27793.48588.63883.68578.82371.96963.82357.23150.07739.86930.53825.89221.33818.28516.13814.80813.60812.45410.59710.0619.6729.4139.0308.7398.5168.3528.0537.8067.6197.4677.3867.3227.3667.2397.0927.078

Adjust information technology, hardware and services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1988 * 1988 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Information technology, hardware and services was 100.000 in the year 1988 and 7.078 in 2024:

7.078 / 100.000 * $20 = $1.42

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1988 has the same "purchasing power" as $1.42 in 2024 (in the CPI category of Information technology, hardware and services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Information technology, hardware and services in 1988. In addition to information technology, hardware and services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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