According to the U.S. Bureau of Labor Statistics, prices for financial services were 3.30% higher in 2020 versus 2018 (a $16.52 difference in value).
Between 2018 and 2020: Financial services experienced an average inflation rate of 1.64% per year. In other words, financial services costing $500 in the year 2018 would cost $516.52 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.36% during this same period, inflation for financial services was higher.
In the year 2018: Pricing changed by 4.87%, which is significantly above the average yearly change for financial services during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for financial services was higher.
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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|