According to the U.S. Bureau of Labor Statistics, prices for funeral expenses are 2.11% higher in 2022 versus 2021 (a $0.42 difference in value).
Between 2021 and 2022: Funeral expenses experienced an average inflation rate of 2.11% per year. This rate of change indicates significant inflation. In other words, funeral expenses costing $20 in the year 2021 would cost $20.42 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 5.83% during this same period, inflation for funeral expenses was significantly lower.
In the year 2021: Pricing changed by 1.60%, which is below the average yearly change for funeral expenses during the 2021-2022 time period. Compared to inflation for all items in 2021 (4.70%), inflation for funeral expenses was much lower.
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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Funeral expenses: