According to the U.S. Bureau of Labor Statistics, prices for financial services were 0.62% lower in 2021 versus 2020 (a $3.08 difference in value).
Between 2020 and 2021: Financial services experienced an average inflation rate of -0.62% per year. In other words, financial services costing $500 in the year 2020 would cost $496.92 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.55% during this same period, inflation for financial services was significantly lower.
In the year 2020: Pricing changed by 1.50%, which is above the average yearly change for financial services during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), 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 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|