According to the U.S. Bureau of Labor Statistics, prices for household operations were 7.50% higher in 2020 versus 2018 (a $1.50 difference in value).
Between 2018 and 2020: Household operations experienced an average inflation rate of 3.68% per year. This rate of change indicates significant inflation. In other words, household operations costing $20 in the year 2018 would cost $21.50 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.46% during this same period, inflation for household operations was higher.
In the year 2018: Pricing changed by 5.50%, which is above the average yearly change for household operations during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for household operations was much 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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|