According to the U.S. Bureau of Labor Statistics, prices for financial services are 14.20% higher in 2022 versus 2017 (a $71 difference in value).
Between 2017 and 2022: Financial services experienced an average inflation rate of 2.69% per year. This rate of change indicates significant inflation. In other words, financial services costing $500 in the year 2017 would cost $571 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.44% during this same period, inflation for financial services was lower.
In the year 2017: Pricing changed by 3.67%, which is above the average yearly change for financial services during the 2017-2022 time period. Compared to inflation for all items in 2017 (2.13%), inflation for financial services was higher.
Below are calculations of equivalent buying power for Financial services, over time, for $500 beginning in 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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: