According to the U.S. Bureau of Labor Statistics, prices for domestic services were 22.27% higher in 2020 versus 2008 (a $4.45 difference in value).
Between 2008 and 2020: Domestic services experienced an average inflation rate of 1.69% per year. In other words, domestic services costing $20 in the year 2008 would cost $24.45 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.55% during this same period, inflation for domestic services was higher.
In the year 2008: Pricing changed by 3.40%, which is above the average yearly change for domestic services during the 2008-2020 time period. Compared to inflation for all items in 2008 (3.84%), inflation for domestic services was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Domestic services:
Year | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
CPI | 100.000 | 101.708 | 104.877 | 109.677 | 113.877 | 118.331 | 121.315 | 123.831 | 128.277 | 133.115 | 138.059 | 142.756 | 144.081 | 144.386 | 145.390 | 147.399 | 150.075 | 153.693 | 155.614 | 157.267 | 161.038 | 165.755 | 169.632 | 174.542 |
Below are calculations of equivalent buying power for Domestic services, over time, for $20 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2008 | $20.00 | 3.40% |
2009 | $20.19 | 0.93% |
2010 | $20.23 | 0.21% |
2011 | $20.37 | 0.70% |
2012 | $20.65 | 1.38% |
2013 | $21.03 | 1.82% |
2014 | $21.53 | 2.41% |
2015 | $21.80 | 1.25% |
2016 | $22.03 | 1.06% |
2017 | $22.56 | 2.40% |
2018 | $23.22 | 2.93% |
2019 | $23.77 | 2.34% |
2020 | $24.45 | 2.89%* |