Financial services priced at $500 in 1996 $1,072.52 in 2022

Financial Services Inflation Calculator

$

Prices for Financial Services, 1996-2022 ($500)

According to the U.S. Bureau of Labor Statistics, prices for financial services are 114.50% higher in 2022 versus 1996 (a $572.52 difference in value).

Between 1996 and 2022: Financial services experienced an average inflation rate of 2.98% per year. This rate of change indicates significant inflation. In other words, financial services costing $500 in the year 1996 would cost $1,072.52 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.42% during this same period, inflation for financial services was higher.

In the year 1996: Pricing changed by 5.64%, which is above the average yearly change for financial services during the 1996-2022 time period. Compared to inflation for all items in 1996 (2.93%), inflation for financial services was higher.

Price Inflation for Financial services since 1986

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1994 (8.56%), 1991 (8.26%), and 1990 (7.30%).

View price changes for other categories
Housing · Dental services · Detroit, Michigan · Financial services · More

Buying power of $500.00 since 1996

Below are calculations of equivalent buying power for Financial services, over time, for $500 beginning in 1996. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1996$500.005.64%
1997$525.075.01%
1998$544.963.79%
1999$565.243.72%
2000$590.674.50%
2001$614.314.00%
2002$637.333.75%
2003$655.982.93%
2004$677.473.28%
2005$691.012.00%
2006$711.412.95%
2007$734.473.24%
2008$751.962.38%
2009$714.91-4.93%
2010$733.072.54%
2011$753.202.75%
2012$794.475.48%
2013$815.852.69%
2014$834.482.28%
2015$869.734.22%
2016$903.283.86%
2017$936.403.67%
2018$982.034.87%
2019$997.541.58%
2020$1,012.461.50%
2021$1,013.820.14%
2022$1,072.525.79%*

* 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 Financial services:

Year1986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI100.000101.731108.485115.100123.508133.715141.469149.631162.438172.823182.569191.723198.985206.392215.677224.308232.715239.523247.369252.315259.762268.183274.571261.039267.673275.023290.091297.897304.702317.571329.823341.917358.577364.240369.687370.186391.617

Adjust financial services prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1996 * 1996 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Financial services was 182.569 in the year 1996 and 391.617 in 2022:

391.617 / 182.569 * $500 = $1,072.52

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 1996 has the same "purchasing power" as $1,072.52 in 2022 (in the CPI category of Financial services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Financial services in 1986. In addition to financial 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.