Financial services priced at $500 in 1997 $890.48 in 2017

Historical Price Inflation for Financial services

$

Prices for Financial Services, 1997-2017 ($500)

According to the U.S. Bureau of Labor Statistics, prices for financial services were 78.10% higher in 2017 versus 1997.

Between 1997 and 2017: Financial services experienced an average inflation rate of 2.93% per year. This rate of change indicates significant inflation. In other words, financial services costing $500 in the year 1997 would cost $890.48 in 2017 for an equivalent purchase. Compared to the overall inflation rate of 2.14% during this same period, inflation for financial services was similar.

In the year 1997: Pricing changed by 5.01%, above the average yearly change for financial services during the 1997-2017 time period. Compared to inflation for all items in 1997 (2.33%), price inflation for financial services was higher.

Price Inflation for Financial services since 1986

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1994 (8.56%), 1991 (8.26%), and 1990 (7.30%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Financial services:

Year 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
CPI 100.000 101.731 108.485 115.100 123.508 133.715 141.469 149.631 162.438 172.823 182.569 191.723 198.985 206.392 215.677 224.308 232.715 239.523 247.369 252.315 259.762 268.183 274.571 261.039 267.673 275.023 290.091 297.897 304.702 317.571 329.823 341.453

View price changes for other categories
Housing · Rent of primary residence · Fish and seafood · Fresh fruits · More

How to calculate the inflation rate for financial services, 1997-2017

Start with the inflation rate formula:

CPI in 2017 / CPI in 1997 * 1997 USD value = 2017 USD value

Then plug in historical CPI values from above. The CPI for Financial services was 191.723 in the year 1997 and 341.453 in 2017:

341.453 / 191.723 * $500 = $890.48

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 1997 has the same "purchasing power" as $890.48 in 2017 (in the category of Financial services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Financial services in 1986. In addition to financial services, the index produces monthly data on changes in prices paid by urban consumers for a variety of other goods and services.

» Read more about inflation.