Financial services priced at $500 in 2016 $666 in 2024

Financial Services Inflation Calculator

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Prices for Financial Services, 2016-2024 ($500)

According to the U.S. Bureau of Labor Statistics, prices for financial services are 33.20% higher in 2024 versus 2016 (a $166 difference in value).

Between 2016 and 2024: Financial services experienced an average inflation rate of 3.65% per year. This rate of change indicates significant inflation. In other words, financial services costing $500 in the year 2016 would cost $666 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.34% during this same period, inflation for financial services was higher.

In the year 2016: Pricing changed by 3.86%, which is above the average yearly change for financial services during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), 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%).

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Buying power of $500.00 since 2016

Below are calculations of equivalent buying power for Financial services, over time, for $500 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2016$500.003.86%
2017$518.333.67%
2018$543.594.87%
2019$552.171.58%
2020$560.431.50%
2021$561.190.14%
2022$593.645.78%
2023$636.127.15%
2024$666.004.70%*

* 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:

Year198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000101.731108.485115.100123.508133.715141.469149.631162.438172.823182.569191.723198.985206.392215.677224.308232.715239.523247.369252.315259.762268.183274.571261.039267.673275.023290.091297.897304.702317.571329.823341.917358.577364.240369.687370.186391.594419.612439.327

Adjust financial services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Financial services was 329.823 in the year 2016 and 439.327 in 2024:

439.327 / 329.823 * $500 = $666

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 2016 has the same "purchasing power" as $666 in 2024 (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.

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