According to the U.S. Bureau of Labor Statistics, prices for men's suits, sport coats, and outerwear were 19.01% lower in 2020 versus 2008 (a $3.80 difference in value).
Between 2008 and 2020: Men's suits, sport coats, and outerwear experienced an average inflation rate of -1.74% per year. In other words, men's suits, sport coats, and outerwear costing $20 in the year 2008 would cost $16.20 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.52% during this same period, inflation for men's suits, sport coats, and outerwear was significantly lower.
In the year 2008: Pricing changed by 0.44%, which is above the average yearly change for men's suits, sport coats, and outerwear during the 2008-2020 time period. Compared to inflation for all items in 2008 (3.84%), inflation for men's suits, sport coats, and outerwear was much lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Men's suits, sport coats, and outerwear:
Below are calculations of equivalent buying power for Men's suits, sport coats, and outerwear, over time, for $20 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|