According to the U.S. Bureau of Labor Statistics, prices for financial services were 4.06% lower in 2021 versus 2019 (a $20.28 difference in value).
Between 2019 and 2021: Financial services experienced an average inflation rate of -2.05% per year. This rate of change indicates significant deflation. In other words, financial services costing $500 in the year 2019 would cost $479.72 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.15% during this same period, inflation for financial services was significantly lower.
In the year 2019: Pricing changed by 1.58%, which is significantly above the average yearly change for financial services during the 2019-2021 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:
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 |
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 | 349.467 |
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 |
---|---|---|
2019 | $500.00 | 1.58% |
2020 | $507.48 | 1.50% |
2021 | $479.72 | -5.47%* |