According to the U.S. Bureau of Labor Statistics, prices for funeral expenses were 3.21% higher in 2020 versus 2018 (a $0.64 difference in value).
Between 2018 and 2020: Funeral expenses experienced an average inflation rate of 1.59% per year. In other words, funeral expenses costing $20 in the year 2018 would cost $20.64 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.32% during this same period, inflation for funeral expenses was higher.
In the year 2018: Pricing changed by 1.89%, which is above the average yearly change for funeral expenses during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), 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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|