According to the U.S. Bureau of Labor Statistics, prices for financial services were 34.98% higher in 2020 versus 2011 (a $174.92 difference in value).
Between 2011 and 2020: Financial services experienced an average inflation rate of 3.39% per year. This rate of change indicates significant inflation. In other words, financial services costing $500 in the year 2011 would cost $674.92 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.56% during this same period, inflation for financial services was higher.
In the year 2011: Pricing changed by 2.75%, which is below the average yearly change for financial services during the 2011-2020 time period. Compared to inflation for all items in 2011 (3.16%), inflation for financial services was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Financial services:
Below are calculations of equivalent buying power for Financial services, over time, for $500 beginning in 2011. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|