According to the U.S. Bureau of Labor Statistics, prices for all items less energy are 11.99% higher in 2021 versus 2016 (a $2.40 difference in value).
Between 2016 and 2021: All items less energy experienced an average inflation rate of 2.29% per year. This rate of change indicates significant inflation. In other words, all items less energy costing $20 in the year 2016 would cost $22.40 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.46% during this same period, inflation for all items less energy was lower.
In the year 2016: Pricing changed by 1.92%, which is below the average yearly change for all items less energy during the 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), inflation for all items less energy was higher.
Below are calculations of equivalent buying power for All items less energy, over time, for $20 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for All items less energy: