According to the U.S. Bureau of Labor Statistics, prices for funeral expenses were 16.68% higher in 2020 versus 2012 (a $3.34 difference in value).
Between 2012 and 2020: Funeral expenses experienced an average inflation rate of 1.95% per year. In other words, funeral expenses costing $20 in the year 2012 would cost $23.34 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.47% during this same period, inflation for funeral expenses was higher.
In the year 2012: Pricing changed by 1.91%, which is below the average yearly change for funeral expenses during the 2012-2020 time period. Compared to inflation for all items in 2012 (2.07%), inflation for funeral expenses was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Funeral expenses:
Below are calculations of equivalent buying power for Funeral expenses, over time, for $20 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|