According to the U.S. Bureau of Labor Statistics, prices for information technology, hardware and services were 27% lower in 2020 versus 2008 (a $5.40 difference in value).
Between 2008 and 2020: Information technology, hardware and services experienced an average inflation rate of -2.59% per year. This rate of change indicates significant deflation. In other words, information technology, hardware and services costing $20 in the year 2008 would cost $14.60 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.52% during this same period, inflation for information technology, hardware and services was significantly lower.
In the year 2008: Pricing changed by -5.06%, which is below the average yearly change for information technology, hardware and services during the 2008-2020 time period. Compared to inflation for all items in 2008 (3.84%), inflation for information technology, hardware and services was much lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Information technology, hardware and services:
Below are calculations of equivalent buying power for Information technology, hardware and services, over time, for $20 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|