According to the U.S. Bureau of Labor Statistics, prices for household operations were 2.53% higher in 2020 versus 2019 (a $0.51 difference in value).
Between 2019 and 2020: Household operations experienced an average inflation rate of 2.53% per year. This rate of change indicates significant inflation. In other words, household operations costing $20 in the year 2019 would cost $20.51 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 0.93% during this same period, inflation for household operations was higher.
In the year 2019: Pricing changed by 4.57%, which is above the average yearly change for household operations during the 2019-2020 time period. Compared to inflation for all items in 2019 (1.81%), 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 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|