According to the U.S. Bureau of Labor Statistics, prices for financial services are 121.35% higher in 2024 versus 1998 (a $606.73 difference in value).
Between 1998 and 2024: Financial services experienced an average inflation rate of 3.10% per year. This rate of change indicates significant inflation. In other words, financial services costing $500 in the year 1998 would cost $1,106.73 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for financial services was higher.
In the year 1998: Pricing changed by 3.79%, which is above the average yearly change for financial services during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for financial services was higher.
Below are calculations of equivalent buying power for Financial services, over time, for $500 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $500.00 | 3.79% |
| 1999 | $518.61 | 3.72% |
| 2000 | $541.94 | 4.50% |
| 2001 | $563.63 | 4.00% |
| 2002 | $584.76 | 3.75% |
| 2003 | $601.86 | 2.93% |
| 2004 | $621.58 | 3.28% |
| 2005 | $634.01 | 2.00% |
| 2006 | $652.72 | 2.95% |
| 2007 | $673.88 | 3.24% |
| 2008 | $689.93 | 2.38% |
| 2009 | $655.93 | -4.93% |
| 2010 | $672.60 | 2.54% |
| 2011 | $691.07 | 2.75% |
| 2012 | $728.93 | 5.48% |
| 2013 | $748.54 | 2.69% |
| 2014 | $765.64 | 2.28% |
| 2015 | $797.98 | 4.22% |
| 2016 | $828.77 | 3.86% |
| 2017 | $859.15 | 3.67% |
| 2018 | $901.02 | 4.87% |
| 2019 | $915.25 | 1.58% |
| 2020 | $928.93 | 1.50% |
| 2021 | $930.19 | 0.14% |
| 2022 | $983.98 | 5.78% |
| 2023 | $1,054.38 | 7.15% |
| 2024 | $1,106.73 | 4.96%* |
* 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:
| Year | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 100.000 | 101.731 | 108.485 | 115.100 | 123.508 | 133.715 | 141.469 | 149.631 | 162.438 | 172.823 | 182.569 | 191.723 | 198.985 | 206.392 | 215.677 | 224.308 | 232.715 | 239.523 | 247.369 | 252.315 | 259.762 | 268.183 | 274.571 | 261.039 | 267.673 | 275.023 | 290.091 | 297.897 | 304.702 | 317.571 | 329.823 | 341.917 | 358.577 | 364.240 | 369.687 | 370.186 | 391.594 | 419.612 | 440.444 |