According to the U.S. Bureau of Labor Statistics, prices for funeral expenses were 7.37% higher in 2020 versus 2016 (a $1.47 difference in value).
Between 2016 and 2020: Funeral expenses experienced an average inflation rate of 1.79% per year. In other words, funeral expenses costing $20 in the year 2016 would cost $21.47 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.87% during this same period, inflation for funeral expenses was lower.
In the year 2016: Pricing changed by 1.84%, which is above the average yearly change for funeral expenses during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), 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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|