According to the U.S. Bureau of Labor Statistics, prices for domestic services were 13.57% higher in 2020 versus 2014 (a $2.71 difference in value).
Between 2014 and 2020: Domestic services experienced an average inflation rate of 2.14% per year. This rate of change indicates significant inflation. In other words, domestic services costing $20 in the year 2014 would cost $22.71 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.50% during this same period, inflation for domestic services was higher.
In the year 2014: Pricing changed by 2.41%, which is above the average yearly change for domestic services during the 2014-2020 time period. Compared to inflation for all items in 2014 (1.62%), inflation for domestic services was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Domestic services:
Below are calculations of equivalent buying power for Domestic services, over time, for $20 beginning in 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|