According to the U.S. Bureau of Labor Statistics, prices for legal services were 1.96% higher in 2020 versus 2018 (a $196.10 difference in value).
Between 2018 and 2020: Legal services experienced an average inflation rate of 0.98% per year. In other words, legal services costing $10,000 in the year 2018 would cost $10,196.10 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.28% during this same period, inflation for legal services was lower.
In the year 2018: Pricing changed by 4.29%, which is significantly above the average yearly change for legal services during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), 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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|