According to the U.S. Bureau of Labor Statistics, prices for information technology, hardware and services were 0.30% higher in 2021 versus 2020 (a $0.06 difference in value).
Between 2020 and 2021: Information technology, hardware and services experienced an average inflation rate of 0.30% per year. In other words, information technology, hardware and services costing $20 in the year 2020 would cost $20.06 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.82% during this same period, inflation for information technology, hardware and services was significantly lower.
In the year 2020: Pricing changed by -0.87%, which is below the average yearly change for information technology, hardware and services during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), inflation for information technology, hardware and services was 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 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|