According to the U.S. Bureau of Labor Statistics, prices for men's suits, sport coats, and outerwear were 7.68% lower in 2020 versus 2018 (a $1.54 difference in value).
Between 2018 and 2020: Men's suits, sport coats, and outerwear experienced an average inflation rate of -3.92% per year. This rate of change indicates significant deflation. In other words, men's suits, sport coats, and outerwear costing $20 in the year 2018 would cost $18.46 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.37% during this same period, inflation for men's suits, sport coats, and outerwear was significantly lower.
In the year 2018: Pricing changed by -3%, which is above the average yearly change for men's suits, sport coats, and outerwear during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), 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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|