According to the U.S. Bureau of Labor Statistics, prices for miami-fort lauderdale, florida are 20.81% higher in 2022 versus 2016 (a $9,759.55 difference in value).
Between 2016 and 2022: Miami-Fort Lauderdale, Florida experienced an average inflation rate of 3.20% per year. This rate of change indicates significant inflation. In other words, miami-fort lauderdale, florida costing $46,890 in the year 2016 would cost $56,649.55 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.93% during this same period, inflation for miami-fort lauderdale, florida was higher.
In the year 2016: Pricing changed by 1.73%, which is below the average yearly change for miami-fort lauderdale, florida during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for miami-fort lauderdale, florida was higher.
Below are calculations of equivalent buying power for Miami-Fort Lauderdale, Florida, over time, for $46,890 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Miami-Fort Lauderdale, Florida: