Costco Wholesale Corp. (COST) Inflation-Adjusted

Costco Wholesale Corporation (COST) is a multinational corporation that operates a chain of membership-only warehouse clubs, offering bulk quantities of merchandise at discounted prices to members.

Understanding investment performance requires looking beyond surface-level stock price changes to account for inflation's erosion of purchasing power over time. This page uses the US Consumer Price Index to adjust Costco's historical stock prices, filtering out inflation to show genuine performance trends.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use May 2026 as the baseline (latest available CPI).

The current value of Costco stock is 986.68 (as of the close of Jun 16, 2026), 9.84% lower than the all-time high of 1,094.32 (May 19, 2026).

While the nominal high reached 1,094.32, the inflation-adjusted peak value was 1,123.25 on February 13, 2025.

Since July 9, 1986, the inflation-adjusted total return for the stock has been 3,593%, which is equivalent to an annual growth rate of 9.46%.

In nominal values, the total return since this date has been 11,201%, or an annualized rate of 12.57%.

Inflation-Adjusted Values by Month

This data presents Costco's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power based on the latest CPI data, following the same present-value method that underlies the US Inflation Calculator. The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date Inflation-Adjusted Nominal value
Jun 2026 986.68 986.68
May 2026 956.32 956.32
Apr 2026 1,019.45 1,013.05
Mar 2026 1,009.77 994.98
Feb 2026 1,035.07 1,009.31
Jan 2026 967.37 938.88
Dec 2025 889.31 859.94
Nov 2025 941.97 911.04
Oct 2025 908.91 908.91
Sep 2025 951.07 921.77
Aug 2025 971.71 939.39
Jul 2025 969.38 934.45
Jun 2025 1,022.81 984.47
May 2025 1,078.38 1,034.43
Apr 2025 1,031.8 987.69
Mar 2025 984.31 939.3
Feb 2025 1,093.78 1,041.43
Jan 2025 1,025.5 972.1
Dec 2024 965.21 908.99
Nov 2024 1,024.15 964.16
Oct 2024 919.48 866.09
Sep 2024 933.53 878.31
Aug 2024 941.21 884.12
Jul 2024 867.68 814.39
Jun 2024 896.99 840.92
May 2024 854.97 801.25
Apr 2024 764.4 715.19
Mar 2024 776.46 723.66
Feb 2024 793.49 734.78
Jan 2024 744.71 685.36
Dec 2023 711.27 651.04
Nov 2023 624.19 571.91
Oct 2023 579.52 532.05
Sep 2023 592.43 544.11
Aug 2023 577.42 529
Jul 2023 590.85 538.96
Jun 2023 568.44 517.53
May 2023 541.87 491.75
Apr 2023 533.27 482.73
Mar 2023 529.2 476.64
Feb 2023 517.39 464.46
Jan 2023 548.3 489.47
Dec 2022 493.6 437.15
Nov 2022 581.29 516.39
Oct 2022 540.05 480.24
Sep 2022 509.71 451.44
Aug 2022 564.71 499.07
Jul 2022 585.27 517.42
Jun 2022 517.26 457.35
May 2022 510.07 444.89
Apr 2022 588.15 507.39
Mar 2022 639.48 548.61
Feb 2022 584.32 494.69
Jan 2022 572.76 480.51
Dec 2021 649.12 540.03
Nov 2021 618.63 513.09
Oct 2021 566.54 467.58
Sep 2021 521.37 426.76
Aug 2021 529.93 432.59
Jul 2021 500.98 408.12
Jun 2021 462.64 375.08
May 2021 446.4 358.58
Apr 2021 442.63 352.72
Mar 2021 421.85 333.42
Feb 2021 398.94 313.1
Jan 2021 426.26 332.72
Dec 2020 457.65 355.71
Nov 2020 464.45 360.65
Oct 2020 423.7 329.21
Sep 2020 419.97 326.18
Aug 2020 411.86 319.43
Jul 2020 386.86 299.1
Jun 2020 361.38 278
May 2020 369.66 282.82
Apr 2020 363.11 277.8
Mar 2020 338.64 260.82
Feb 2020 333.18 257.17
Jan 2020 362.3 278.89
Dec 2019 349.89 268.3
Nov 2019 356.58 273.68
Oct 2019 353.18 271.21
Sep 2019 342.52 262.43
Aug 2019 350.7 268.49
Jul 2019 327.2 250.51
Jun 2019 314.23 240.17
May 2019 284.94 217.74
Apr 2019 291.85 222.55
Mar 2019 289.35 219.48
Feb 2019 262.86 198.27
Jan 2019 258.31 194.02
Dec 2018 245.64 184.15
Nov 2018 277.99 209.07
Oct 2018 273.24 206.19
Sep 2018 281.21 211.82
Aug 2018 279.43 210.25
Jul 2018 261.65 196.75
Jun 2018 250.02 188
May 2018 237.55 178.34
Apr 2018 236.55 176.85
Mar 2018 226.98 169.02
Feb 2018 230.47 171.24
Jan 2018 235.7 174.33
Dec 2017 226.35 166.51
Nov 2017 224.16 164.99
Oct 2017 195.21 143.68
Sep 2017 198.97 146.54
Aug 2017 190.83 139.81
Jul 2017 192.95 140.94
Jun 2017 194.54 142.2
May 2017 219.68 160.43
Apr 2017 207.63 151.5
Mar 2017 196.72 143.11
Feb 2017 208.02 151.21
Jan 2017 192.57 139.54
Dec 2016 189.16 136.28
Nov 2016 177.4 127.76
Oct 2016 173.95 125.47
Sep 2016 179.63 129.41
Aug 2016 191.38 137.54
Jul 2016 197.08 141.51
Jun 2016 184.79 132.9
May 2016 175.63 125.9
Apr 2016 175.58 125.36
Mar 2016 187.12 132.96
Feb 2016 178.92 126.59
Jan 2016 179.88 127.17
Dec 2015 192.56 135.9
Nov 2015 191.8 135.84
Oct 2015 187 132.72
Sep 2015 170.9 121.34
Aug 2015 165.3 117.55
Jul 2015 170.78 121.62
Jun 2015 158.76 113.05
May 2015 168.2 119.35
Apr 2015 169.6 119.74
Mar 2015 179.49 126.47
Feb 2015 175.15 122.68
Jan 2015 165.45 115.38
Dec 2014 163.24 114.38
Nov 2014 162.74 114.68
Oct 2014 151.5 107.34
Sep 2014 142 100.86
Aug 2014 137.3 97.45
Jul 2014 133.06 94.6
Jun 2014 129.92 92.4
May 2014 131.14 93.09
Apr 2014 130.81 92.54
Mar 2014 126.7 89.34
Feb 2014 133.37 93.43
Jan 2014 128.42 89.64
Dec 2013 136.54 94.95
Nov 2013 143.88 100.07
Oct 2013 134.74 93.9
Sep 2013 131.17 91.65
Aug 2013 127.56 89.02
Jul 2013 133.71 93.2
Jun 2013 125.95 87.76
May 2013 125.18 87.02
Apr 2013 124.03 86.06
Mar 2013 121.25 84.22
Feb 2013 116.05 80.4
Jan 2013 118.21 81.23
Dec 2012 114.38 78.36
Nov 2012 120.07 82.48
Oct 2012 113.19 78.13
Sep 2012 115.13 79.5
Aug 2012 113 77.68
Jul 2012 111.67 76.34
Jun 2012 110.12 75.4
May 2012 99.99 68.57
Apr 2012 101.94 69.99
Mar 2012 105.29 72.07
Feb 2012 100.55 68.31
Jan 2012 96.54 65.3
Dec 2011 98.21 66.13
Nov 2011 100.29 67.7
Oct 2011 97.8 66.08
Sep 2011 96.29 65.19
Aug 2011 92.22 62.34
Jul 2011 92.13 62.11
Jun 2011 95.73 64.48
May 2011 97.09 65.47
Apr 2011 95.67 64.2
Mar 2011 87.27 58.2
Feb 2011 89.89 59.36
Jan 2011 86.77 57.02
Dec 2010 87.63 57.31
Nov 2010 82.19 53.66
Oct 2010 76.34 49.82
Sep 2010 78.53 51.19
Aug 2010 68.84 44.85
Jul 2010 69.19 45.01
Jun 2010 66.91 43.52
May 2010 71.02 46.23
Apr 2010 72.08 46.89
Mar 2010 72.98 47.39
Feb 2010 74.83 48.39
Jan 2010 70.5 45.58
Dec 2009 72.88 46.96
Nov 2009 73.66 47.55
Oct 2009 69.95 45.12
Sep 2009 69.44 44.75
Aug 2009 62.83 40.46
Jul 2009 61.14 39.29
Jun 2009 56.46 36.34
May 2009 60.35 38.51
Apr 2009 60.62 38.57
Mar 2009 57.92 36.77
Feb 2009 53.08 33.61
Jan 2009 56.73 35.74
Dec 2008 66.43 41.67
Nov 2008 64.45 40.85
Oct 2008 70.02 45.25
Sep 2008 78.94 51.54
Aug 2008 81.42 53.23
Jul 2008 75.8 49.75
Jun 2008 85.26 55.67
May 2008 87.57 56.61
Apr 2008 88.22 56.55
Mar 2008 80.93 51.57
Feb 2008 77.8 49.15
Jan 2008 85.62 53.93
Dec 2007 88.35 55.37
Nov 2007 85.3 53.5
Oct 2007 85.63 53.39
Sep 2007 78.3 48.71
Aug 2007 79 49.01
Jul 2007 76.36 47.46
Jun 2007 74.71 46.45
May 2007 72.23 44.82
Apr 2007 68.94 42.52
Mar 2007 69.74 42.73
Feb 2007 73.05 44.36
Jan 2007 73.8 44.58
Dec 2006 69.69 41.96
Nov 2006 69.04 41.51
Oct 2006 70.36 42.37
Sep 2006 65.13 39.43
Aug 2006 61.04 37.14
Jul 2006 68.96 41.88
Jun 2006 74.9 45.35
May 2006 69.53 42.01
Apr 2006 71.85 43.2
Mar 2006 72.1 42.99
Feb 2006 68.53 40.63
Jan 2006 66.92 39.6
Dec 2005 66.86 39.27
Nov 2005 67.24 39.65
Oct 2005 64.59 38.39
Sep 2005 57.65 34.2
Aug 2005 58.78 34.45
Jul 2005 62.58 36.49
Jun 2005 61.17 35.5
May 2005 62.09 36.02
Apr 2005 55.54 32.25
Mar 2005 60.79 35.07
Feb 2005 64.61 36.98
Jan 2005 65.93 37.52
Dec 2004 67.67 38.42
Nov 2004 67.68 38.57
Oct 2004 66.8 38.05
Sep 2004 58.14 32.95
Aug 2004 57.79 32.68
Jul 2004 57.17 32.31
Jun 2004 57.74 32.69
May 2004 53.31 30.08
Apr 2004 53.06 29.76
Mar 2004 53.38 29.85
Feb 2004 55.51 30.84
Jan 2004 53.06 29.32
Dec 2003 53.66 29.51
Nov 2003 51.64 28.43
Oct 2003 50.97 28.14
Sep 2003 44.74 24.72
Aug 2003 46.47 25.6
Jul 2003 53.5 29.36
Jun 2003 53 29.05
May 2003 54 29.57
Apr 2003 50.09 27.47
Mar 2003 43.36 23.84
Feb 2003 44.34 24.22
Jan 2003 42.26 22.91
Dec 2002 41.26 22.27
Nov 2002 47.39 25.64
Oct 2002 49.78 26.93
Sep 2002 47.57 25.69
Aug 2002 49.18 26.52
Jul 2002 51.5 27.68
Jun 2002 57.1 30.65
May 2002 58.1 31.17
Apr 2002 59.47 31.91
Mar 2002 59.24 31.61
Feb 2002 61.73 32.75
Jan 2002 69.09 36.51
Dec 2001 66.81 35.23
Nov 2001 61.3 32.45
Oct 2001 56.63 30.03
Sep 2001 53.05 28.22
Aug 2001 56.06 29.69
Jul 2001 64.51 34.17
Jun 2001 61.39 32.61
May 2001 58.24 30.88
Apr 2001 52.52 27.72
Mar 2001 59.25 31.15
Feb 2001 63.17 33.14
Jan 2001 70.26 36.71
Dec 2000 61.05 31.7
Nov 2000 49.85 25.9
Oct 2000 55.99 29.07
Sep 2000 53.5 27.73
Aug 2000 53.01 27.33
Jul 2000 50.12 25.85
Jun 2000 50.92 26.19
May 2000 49.53 25.35
Apr 2000 83.95 42.91
Mar 2000 81.67 41.72
Feb 2000 77.74 39.39
Jan 2000 77.12 38.84
Dec 1999 72.11 36.21
Nov 1999 72.45 36.39
Oct 1999 63.5 31.87
Sep 1999 57.03 28.57
Aug 1999 59.49 29.67
Jul 1999 59.64 29.67
Jun 1999 64.07 31.77
May 1999 58.02 28.77
Apr 1999 64.77 32.12
Mar 1999 73.8 36.34
Feb 1999 64.93 31.87
Jan 1999 67.09 32.89
Dec 1998 58.58 28.65
Nov 1998 50.89 24.9
Oct 1998 46.02 22.52
Sep 1998 38.51 18.8
Aug 1998 38.31 18.68
Jul 1998 46.25 22.52
Jun 1998 51.45 25.03
May 1998 47.28 22.97
Apr 1998 45.73 22.17
Mar 1998 43.77 21.18
Feb 1998 40.15 19.4
Jan 1998 35.7 17.21
Dec 1997 36.79 17.71
Nov 1997 36.49 17.59
Oct 1997 31.69 15.28
Sep 1997 31.04 14.93
Aug 1997 29.83 14.31
Jul 1997 31.38 15.03
Jun 1997 27.28 13.05
May 1997 28.04 13.39
Apr 1997 23.97 11.46
Mar 1997 22.96 10.96
Feb 1997 21.35 10.17
Jan 1997 22.26 10.57
Dec 1996 21.07 9.97
Nov 1996 19.5 9.23
Oct 1996 16.7 7.89
Sep 1996 17.28 8.14
Aug 1996 16.8 7.89
Jul 1996 17.37 8.14
Jun 1996 18.35 8.58
May 1996 16.99 7.94
Apr 1996 16.17 7.54
Mar 1996 16.02 7.44
Feb 1996 14.81 6.85
Jan 1996 13.46 6.2
Dec 1995 13.21 6.05
Nov 1995 14.4 6.6
Oct 1995 14.71 6.75
Sep 1995 14.87 6.8
Aug 1995 14.68 6.7
Jul 1995 15.64 7.12
Jun 1995 14.17 6.45
May 1995 12.34 5.61
Apr 1995 12.81 5.8
Mar 1995 12.96 5.85
Feb 1995 12.01 5.41
Jan 1995 12.17 5.46
Dec 1994 11.44 5.11
Nov 1994 13.66 6.1
Oct 1994 14.01 6.25
Sep 1994 14.3 6.37
Aug 1994 14 6.23
Jul 1994 13.44 5.95
Jun 1994 13.42 5.93
May 1994 11.95 5.26
Apr 1994 13.65 6
Mar 1994 16.38 7.19
Feb 1994 18.13 7.94
Jan 1994 16.15 7.04
Dec 1993 17.56 7.64
Nov 1993 17.45 7.59
Oct 1993 16.2 7.04
Sep 1993 17.36 7.52
Aug 1993 17.45 7.54
Jul 1993 14.62 6.3
Jun 1993 15.66 6.75
May 1993 13.49 5.8
Apr 1993 13.39 5.75
Mar 1993 15.4 6.6
Feb 1993 15.57 6.65
Jan 1993 17.49 7.44
Dec 1992 16.99 7.19
Nov 1992 18.26 7.74
Oct 1992 16.53 6.99
Sep 1992 15.06 6.35
Aug 1992 14.51 6.1
Jul 1992 16.09 6.75
Jun 1992 15.65 6.55
May 1992 16.07 6.7
Apr 1992 14.54 6.05
Mar 1992 22.44 9.33
Feb 1992 25.91 10.72
Jan 1992 22.03 9.08
Dec 1991 24.23 9.97
Nov 1991 26.9 11.06
Oct 1991 28.8 11.81
Sep 1991 29.2 11.96
Aug 1991 30.91 12.6
Jul 1991 26.61 10.81
Jun 1991 26.4 10.72
May 1991 27.22 11.01
Apr 1991 25.08 10.12
Mar 1991 23.03 9.28
Feb 1991 20.41 8.21
Jan 1991 21.99 8.83
Dec 1990 19.51 7.79
Nov 1990 19.01 7.59
Oct 1990 15.57 6.2
Sep 1990 14.66 5.8
Aug 1990 16.8 6.6
Jul 1990 20.4 7.94
Jun 1990 21.24 8.23
May 1990 19.75 7.61
Apr 1990 17.67 6.8
Mar 1990 20.02 7.69
Feb 1990 19.87 7.59
Jan 1990 20.55 7.81
Dec 1989 24.39 9.18
Nov 1989 24.69 9.28
Oct 1989 23.36 8.76
Sep 1989 22.88 8.53
Aug 1989 23.75 8.83
Jul 1989 23.39 8.68
Jun 1989 21.43 7.94
May 1989 23.9 8.83
Apr 1989 22.01 8.09
Mar 1989 19.71 7.19
Feb 1989 20.23 7.34
Jan 1989 20.59 7.44
Dec 1988 20.69 7.44
Nov 1988 21.7 7.79
Oct 1988 22.13 7.94
Sep 1988 21.51 7.69
Aug 1988 20.61 7.32
Jul 1988 19.78 6.99
Jun 1988 21.56 7.59
May 1988 20.52 7.19
Apr 1988 21.58 7.54
Mar 1988 21.41 7.44
Feb 1988 22.93 7.94
Jan 1988 20.48 7.07
Dec 1987 18.87 6.5
Nov 1987 15.56 5.36
Oct 1987 17.88 6.15
Sep 1987 26.74 9.18
Aug 1987 29.06 9.92
Jul 1987 27.9 9.48
Jun 1987 26.29 8.9
May 1987 25.43 8.58
Apr 1987 25.08 8.43
Mar 1987 28.47 9.52
Feb 1987 26.37 8.78
Jan 1987 23.25 7.71
Dec 1986 19.71 6.5
Nov 1986 21.68 7.14
Oct 1986 21.7 7.14
Sep 1986 20.67 6.8
Aug 1986 22.13 7.24
Jul 1986 24.44 7.99

Returns from Investing in Costco stock

How much did an investment in Costco really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for Costco stock by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the stock price nominally increased, as in 2016.

Year Inflation-Adjusted Return Nominal Return
2024 35.7% 39.62%
2023 44.1% 48.93%
2022 -23.96% -19.05%
2021 41.84% 51.82%
2020 30.8% 32.58%
2019 42.44% 45.7%
2018 8.52% 10.6%
2017 19.66% 22.18%
2016 -1.76% 0.27%
2015 17.96% 18.82%
2014 19.55% 20.46%
2013 19.38% 21.17%
2012 16.47% 18.49%
2011 12.07% 15.39%
2010 20.24% 22.04%
2009 9.72% 12.7%
2008 -24.81% -24.74%
2007 26.77% 31.95%
2006 4.22% 6.87%
2005 -1.19% 2.19%
2004 26.1% 30.2%
2003 30.06% 32.5%
2002 -38.24% -36.77%
2001 9.43% 11.12%
2000 -15.33% -12.47%
1999 23.1% 26.41%
1998 59.2% 61.76%
1997 74.64% 77.61%
1996 59.46% 64.75%
1995 15.51% 18.45%
1994 -34.86% -33.12%
1993 3.37% 6.21%
1992 -29.89% -27.86%
1991 24.22% 28.03%
1990 -20.02% -15.14%
1989 17.86% 23.33%
1988 9.66% 14.5%
1987 -4.25% 0%

Costco Stock: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for Costco over various trailing periods ending May 31, 2026, offering a clearer view of long-term, real investment performance.

Period Avg. Annual Return (Inflation-Adjusted) Avg. Annual Return (Nominal)
Last 1 year -11.32% -7.55%
Last 3 years 20.85% 24.82%
Last 5 years 16.46% 21.68%
Last 10 years 18.47% 22.48%
Last 20 years 14% 16.91%
Last 30 years 14.38% 17.32%

Real Returns of Investing in the Costco

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in September 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the Costco five years ago yielded an 194.4% nominal gain, but the real return (the actual increase in buying power) was 138.4%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period What $100 Grew To (Nominal) Total Nominal Return (%) Total Inflation-Adjusted Return (%)
Last 5 years Feb 2021 - Sep 2025 $294.4 194.4% 138.4%
Last 10 years Feb 2016 - Sep 2025 $728.14 628.14% 431.56%
Last 25 years Feb 2001 - Sep 2025 $2,781.63 2,682% 1,406%

Inflation in Costco Operations

Costco faces moderate inflation impact across its retail operations, with both cost pressures and unique advantages from its membership-based warehouse model.

  • Merchandise Costs: Rising wholesale prices for products across all categories directly impact Costco's cost of goods sold, affecting gross margins on retail merchandise sales.
  • Labor & Benefits: Wage inflation and rising healthcare costs affect operational expenses, as Costco maintains competitive employee compensation and benefits packages.
  • Real Estate & Facilities: Inflation in construction costs, property taxes and facility maintenance expenses impact both new warehouse development and existing location operations.
  • Transportation & Logistics: Rising fuel costs, shipping rates and warehouse equipment expenses affect the company's supply chain and distribution efficiency.

Costco's business model provides several mechanisms to manage inflationary pressures effectively. The company's membership fee structure creates a stable revenue stream that's less sensitive to inflation, while the membership renewal model allows for periodic fee adjustments to maintain profitability.

Additionally, Costco's bulk purchasing power and direct relationships with manufacturers help secure favorable pricing even during inflationary periods. The company's limited SKU strategy and high inventory turnover allow for quick price adjustments, while the membership warehouse format gives customers an expectation of value that supports necessary price increases when costs rise.

About Costco

Costco Wholesale Corporation is the second-largest retailer in the world, founded in 1983 and headquartered in Issaquah, Washington.

The company operates over 800 warehouses worldwide, serving more than 100 million members through its membership-based retail model. Costco offers a wide range of merchandise, from groceries and household items to electronics and automotive services.

As a component of the S&P 500 and Nasdaq-100, Costco represents the retail sector in major market indices. The company's membership-based warehouse club model has proven resilient across various economic cycles and competitive pressures.

Last Close
Jun 16, 2026
986.68
Highest
May 19, 2026
1,094.32
Highest, Inflation-Adjusted
Feb 13, 2025
1,123.25
Annualized return
Since Jul 9, 1986
12.57%
Annualized return, Inflation-Adjusted
Since Jul 9, 1986
9.46%

More in Stocks

Other Inflation-Adjusted Data