According to the U.S. Bureau of Labor Statistics, prices for funeral expenses are 28.64% higher in 2024 versus 2014 (a $5.73 difference in value).
Between 2014 and 2024: Funeral expenses experienced an average inflation rate of 2.55% per year. This rate of change indicates significant inflation. In other words, funeral expenses costing $20 in the year 2014 would cost $25.73 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.85% during this same period, inflation for funeral expenses was lower.
In the year 2014: Pricing changed by 1.81%, which is below the average yearly change for funeral expenses during the 2014-2024 time period. Compared to inflation for all items in 2014 (1.62%), inflation for funeral expenses was higher.
Below are calculations of equivalent buying power for Funeral expenses, over time, for $20 beginning in 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2014 | $20.00 | 1.81% |
2015 | $20.43 | 2.14% |
2016 | $20.80 | 1.84% |
2017 | $21.20 | 1.93% |
2018 | $21.60 | 1.89% |
2019 | $22.01 | 1.86% |
2020 | $22.36 | 1.60% |
2021 | $22.72 | 1.60% |
2022 | $23.46 | 3.26% |
2023 | $24.70 | 5.31% |
2024 | $25.73 | 4.15%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Funeral expenses:
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 | 2022 | 2023 | 2024 |
CPI | 100.000 | 102.523 | 106.562 | 111.331 | 118.300 | 125.700 | 131.492 | 137.723 | 144.685 | 153.392 | 161.185 | 169.877 | 176.523 | 182.669 | 187.838 | 194.569 | 204.108 | 212.131 | 221.338 | 228.815 | 240.554 | 252.567 | 265.372 | 275.684 | 282.011 | 288.272 | 293.768 | 301.641 | 307.095 | 313.676 | 319.442 | 325.593 | 331.738 | 337.915 | 343.322 | 348.800 | 360.161 | 379.301 | 395.041 |