According to the U.S. Bureau of Labor Statistics, prices for legal services were 13.82% higher in 2020 versus 2015 (a $1,382.32 difference in value).
Between 2015 and 2020: Legal services experienced an average inflation rate of 2.62% per year. This rate of change indicates significant inflation. In other words, legal services costing $10,000 in the year 2015 would cost $11,382.32 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.69% during this same period, inflation for legal services was higher.
In the year 2015: Pricing changed by 1.59%, which is below the average yearly change for legal services during the 2015-2020 time period. Compared to inflation for all items in 2015 (0.12%), inflation for legal services was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Legal services:
Below are calculations of equivalent buying power for Legal services, over time, for $10000 beginning in 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|