According to the U.S. Bureau of Labor Statistics, prices for domestic services are 5.30% higher in 2022 versus 2021 (a $1.06 difference in value).
Between 2021 and 2022: Domestic services experienced an average inflation rate of 5.30% per year. This rate of change indicates significant inflation. In other words, domestic services costing $20 in the year 2021 would cost $21.06 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 6.41% during this same period, inflation for domestic services was lower.
In the year 2021: Pricing changed by 9.13%, which is significantly above the average yearly change for domestic services during the 2021-2022 time period. Compared to inflation for all items in 2021 (4.70%), inflation for domestic services was much higher.
Below are calculations of equivalent buying power for Domestic services, over time, for $20 beginning in 2021. 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: