Domestic services priced at $20 in 2016 $27.08 in 2023

Domestic Services Inflation Calculator

$

Prices for Domestic Services, 2016-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for domestic services are 35.40% higher in 2023 versus 2016 (a $7.08 difference in value).

Between 2016 and 2023: Domestic services experienced an average inflation rate of 4.42% per year. This rate of change indicates significant inflation. In other words, domestic services costing $20 in the year 2016 would cost $27.08 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.45% during this same period, inflation for domestic services was higher.

In the year 2016: Pricing changed by 1.06%, which is significantly below the average yearly change for domestic services during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation for domestic services was lower.

Price Inflation for Domestic services since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2021 (9.13%), 2022 (6.34%), and 2023 (5.13%).

View price changes for other categories
Boston, Massachusetts · Food · Jewelry · Wine at home · More

Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Domestic services, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2016$20.001.06%
2017$20.482.40%
2018$21.082.93%
2019$21.572.34%
2020$22.202.89%
2021$24.229.13%
2022$25.766.34%
2023$27.085.13%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


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

Year199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI100.000101.708104.877109.677113.877118.331121.315123.831128.277133.115138.059142.756144.081144.386145.390147.399150.075153.693155.614157.267161.038165.755169.632174.542190.475202.545212.942

Adjust domestic services prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2016 * 2016 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Domestic services was 157.267 in the year 2016 and 212.942 in 2023:

212.942 / 157.267 * $20 = $27.08

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $27.08 in 2023 (in the CPI category of Domestic services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Domestic services in 1997. In addition to domestic services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.