According to the U.S. Bureau of Labor Statistics, prices for domestic services are 21% higher in 2022 versus 2018 (a $4.20 difference in value).
Between 2018 and 2022: Domestic services experienced an average inflation rate of 4.88% per year. This rate of change indicates significant inflation. In other words, domestic services costing $20 in the year 2018 would cost $24.20 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.52% during this same period, inflation for domestic services was higher.
In the year 2018: Pricing changed by 2.93%, which is below the average yearly change for domestic services during the 2018-2022 time period. Compared to inflation for all items in 2018 (2.44%), inflation for domestic services was higher.
Below are calculations of equivalent buying power for Domestic services, over time, for $20 beginning in 2018. 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 Domestic services: