According to the U.S. Bureau of Labor Statistics, prices for household operations were 16.51% higher in 2020 versus 2016 (a $3.30 difference in value).
Between 2016 and 2020: Household operations experienced an average inflation rate of 3.89% per year. This rate of change indicates significant inflation. In other words, household operations costing $20 in the year 2016 would cost $23.30 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.87% during this same period, inflation for household operations was higher.
In the year 2016: Pricing changed by 2.79%, which is below the average yearly change for household operations during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for household operations was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Household operations:
Below are calculations of equivalent buying power for Household operations, 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|