According to the U.S. Bureau of Labor Statistics, prices for financial services are 18.42% higher in 2022 versus 2016 (a $92.08 difference in value).
Between 2016 and 2022: Financial services experienced an average inflation rate of 2.86% per year. This rate of change indicates significant inflation. In other words, financial services costing $500 in the year 2016 would cost $592.08 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.01% during this same period, inflation for financial services was lower.
In the year 2016: Pricing changed by 3.86%, which is above the average yearly change for financial services during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for financial services was higher.
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:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2016 | $500.00 | 3.86% |
| 2017 | $518.33 | 3.67% |
| 2018 | $543.59 | 4.87% |
| 2019 | $552.17 | 1.58% |
| 2020 | $560.43 | 1.50% |
| 2021 | $561.19 | 0.14% |
| 2022 | $592.08 | 5.51%* |
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 |
| 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 | 390.565 |