According to the U.S. Bureau of Labor Statistics, prices for information technology commodities were 17.50% lower in 2020 versus 2016 (a $3.50 difference in value).
Between 2016 and 2020: Information technology commodities experienced an average inflation rate of -4.69% per year. This rate of change indicates significant deflation. In other words, information technology commodities costing $20 in the year 2016 would cost $16.50 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.83% during this same period, inflation for information technology commodities was significantly lower.
In the year 2016: Pricing changed by -7.71%, which is significantly below the average yearly change for information technology commodities during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for information technology commodities was much lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Information technology commodities:
Below are calculations of equivalent buying power for Information technology commodities, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|