Funeral expenses price inflation, 2021→2023

Funeral Expenses Inflation Calculator

Prices for Funeral Expenses, 2021-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for funeral expenses are 7.15% higher in 2023 versus 2021 (a $1.43 difference in value).

Between 2021 and 2023: Funeral expenses experienced an average inflation rate of 3.51% per year. This rate of change indicates significant inflation. In other words, funeral expenses costing $20 in the year 2021 would cost $21.43 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.45% during this same period, inflation for funeral expenses was lower.

In the year 2021: Pricing changed by 1.60%, which is below the average yearly change for funeral expenses during the 2021-2023 time period. Compared to inflation for all items in 2021 (4.70%), inflation for funeral expenses was much lower.

Price Inflation for Funeral expenses since 1986

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1990 (6.26%), 1991 (6.26%), and 1995 (6.02%).

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Buying power of $20.00 since 2021

Below are calculations of equivalent buying power for Funeral expenses, over time, for $20 beginning in 2021. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2021	$20.00	1.60%
2022	$20.65	3.26%
2023	$21.43	3.77%*

* 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
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	373.725

Adjust funeral expenses prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2021 * 2021 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Funeral expenses was 348.800 in the year 2021 and 373.725 in 2023:

373.725 / 348.800 * $20 = $21.43

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2021 has the same "purchasing power" as $21.43 in 2023 (in the CPI category of Funeral expenses).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Funeral expenses in 1986. In addition to funeral expenses, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.