According to the U.S. Bureau of Labor Statistics, prices for funeral expenses were 11.61% higher in 2020 versus 2014 (a $2.32 difference in value).
Between 2014 and 2020: Funeral expenses experienced an average inflation rate of 1.85% per year. In other words, funeral expenses costing $20 in the year 2014 would cost $22.32 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.44% during this same period, inflation for funeral expenses was higher.
In the year 2014: Pricing changed by 1.81%, which is below the average yearly change for funeral expenses during the 2014-2020 time period. Compared to inflation for all items in 2014 (1.62%), inflation for funeral expenses was higher.
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 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|