According to the U.S. Bureau of Labor Statistics, prices for information technology, hardware and services are 12.20% lower in 2022 versus 2014 (a $2.44 difference in value).
Between 2014 and 2022: Information technology, hardware and services experienced an average inflation rate of -1.61% per year. In other words, information technology, hardware and services costing $20 in the year 2014 would cost $17.56 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation for information technology, hardware and services was significantly lower.
In the year 2014: Pricing changed by -1.93%, which is below the average yearly change for information technology, hardware and services during the 2014-2022 time period. Compared to inflation for all items in 2014 (1.62%), inflation for information technology, hardware and services was much lower.
Below are calculations of equivalent buying power for Information technology, hardware and services, over time, for $20 beginning in 2014. 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 Information technology, hardware and services: