Legal services priced at $10,000 in 2016 $11,823.62 in 2022

Legal Services Inflation Calculator

$

Prices for Legal Services, 2016-2022 ($10,000)

According to the U.S. Bureau of Labor Statistics, prices for legal services are 18.24% higher in 2022 versus 2016 (a $1,823.62 difference in value).

Between 2016 and 2022: Legal services experienced an average inflation rate of 2.83% per year. This rate of change indicates significant inflation. In other words, legal services costing $10,000 in the year 2016 would cost $11,823.62 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.22% during this same period, inflation for legal services was lower.

In the year 2016: Pricing changed by 3.38%, which is above the average yearly change for legal services during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for legal services was higher.

Price Inflation for Legal services since 1986

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1990 (7.40%), 1989 (5.99%), and 2002 (5.81%).

View price changes for other categories
Legal services · Juices and nonalcoholic drinks · Admission to sporting events · Atlanta, Georgia · More

Buying power of $10,000.00 since 2016

Below are calculations of equivalent buying power for Legal services, over time, for $10,000 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2016$10,000.003.38%
2017$10,356.173.56%
2018$10,800.244.29%
2019$10,905.150.97%
2020$11,023.781.09%
2021$11,192.981.53%
2022$11,823.625.63%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Legal services:

Year1986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI100.000103.438107.662114.115122.562129.577136.215141.954146.762151.631157.085163.823171.669179.977189.338199.469211.054221.708232.262241.754250.008260.273270.726278.146288.130297.427303.465311.817318.492323.558334.478346.391361.244364.754368.721374.381395.474

Adjust legal services prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 2016 * 2016 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Legal services was 334.478 in the year 2016 and 395.474 in 2022:

395.474 / 334.478 * $10,000 = $11,823.62

Therefore, according to U.S. Bureau of Labor Statistics, $10,000 in 2016 has the same "purchasing power" as $11,823.62 in 2022 (in the CPI category of Legal services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Legal services in 1986. In addition to legal services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.