According to the U.S. Bureau of Labor Statistics, prices for laundry equipment are 28.68% higher in 2022 versus 2016 (a $143.41 difference in value).
Between 2016 and 2022: Laundry equipment experienced an average inflation rate of 4.29% per year. This rate of change indicates significant inflation. In other words, laundry equipment costing $500 in the year 2016 would cost $643.41 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.93% during this same period, inflation for laundry equipment was higher.
In the year 2016: Pricing changed by -6.54%, which is significantly below the average yearly change for laundry equipment during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for laundry equipment was much lower.
Below are calculations of equivalent buying power for Laundry equipment, over time, for $500 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Laundry equipment: