iPhone 15 could be the most affordable iPhone since '07 adjusted for inflation

This week, lots of Apple publications shared leaked pricing for the upcoming iPhone 15 model line. If the rumors are true, the prices for the iPhone 15 and 15 Plus will remain the same as the iPhone 14 line, at $799 and $899 respectively. The iPhone 15 Pro and Pro Max will see their starting prices increase by $100 each, to $1099 and $1199 respectively. 

While the price increases for the iPhone Pro have gotten a lot of attention, the perhaps more remarkable story is the lack of price increases for the base iPhone during a period of high inflation. If the rumors are true, the iPhone 15 will have the same starting price as the iPhone 12, released in 2020, despite the fact the US has experienced 18% inflation since then according to the Bureau of Labor Statistics's inflation calculator. It is typical for Apple to go three or four years without increasing its retail prices, but in the past that has occurred in a low inflation environment. 

How the iPhone 15's price compares to other iPhones

We decided to take a look at the inflation-adjusted price of every iPhone. What we found is that if the rumors are true:

• The iPhone 15 will be the most affordable base model since the original iPhone was released in 2007

• The iPhone 15 Plus will be the most affordable large iPhone ever. 

• Despite the fact the iPhone 15 Pro and Pro Max will see their prices increase this year, the overall trend for Apple’s premium phones is that they are getting cheaper in inflation-adjusted terms. 

Every iPhone's retail price, adjusted for inflation

Here’s the full chart of every iPhone's retail price in 2023 dollars. We’ve grouped similar models (Pro, Pro Max, Mini, ect.) together for easier comparison. The initial retail price is for an unlocked, unsubsidized phone with the lowest memory configuration.

Here is an alternate view that makes it easier to see the price decrease for the iPhone Pro and Pro Max lines.

Here is the iPhone price history in nominal terms without any inflation adjustment. 

Data

Here are all of Apple's iPhone skus released since 2007, including their nominal starting price and their inflation-adjusted price in 2023 dollars.

Methodology

• We looked at the U.S. retail price for unlocked phones purchased without a contract or carrier subsidy. We looked at the lowest cost version of each phone, without any memory upgrades.

• Inflation adjustments are made using the Bureau of Labor Statistics inflation calculator comparing July of the launch year to July 2023, the last month for which data is available. 

• Comparison bar chart was made using Venngage. The line charts were made with RStudio.