According to the U.S. Bureau of Labor Statistics, prices for funeral expenses are 4.06% higher in 2022 versus 2020 (a $0.81 difference in value).
Between 2020 and 2022: Funeral expenses experienced an average inflation rate of 2.01% per year. This rate of change indicates significant inflation. In other words, funeral expenses costing $20 in the year 2020 would cost $20.81 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 5.91% during this same period, inflation for funeral expenses was significantly lower.
In the year 2020: Pricing changed by 1.60%, which is below the average yearly change for funeral expenses during the 2020-2022 time period. Compared to inflation for all items in 2020 (1.23%), inflation for funeral expenses was higher.
Below are calculations of equivalent buying power for Funeral expenses, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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: