According to the U.S. Bureau of Labor Statistics, prices for financial services were 1.70% higher in 2020 versus 2019 (a $8.49 difference in value).
Between 2019 and 2020: Financial services experienced an average inflation rate of 1.70% per year. In other words, financial services costing $500 in the year 2019 would cost $508.49 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 0.90% during this same period, inflation for financial services was higher.
In the year 2019: Pricing changed by 1.58%, which is below the average yearly change for financial services during the 2019-2020 time period. Compared to inflation for all items in 2019 (1.81%), 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 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|