According to the U.S. Bureau of Labor Statistics, prices for miscellaneous personal services were 10.92% higher in 2020 versus 2016 (a $2.18 difference in value).
Between 2016 and 2020: Miscellaneous personal services experienced an average inflation rate of 2.63% per year. This rate of change indicates significant inflation. In other words, miscellaneous personal services costing $20 in the year 2016 would cost $22.18 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.85% during this same period, inflation for miscellaneous personal services was higher.
In the year 2016: Pricing changed by 3.12%, which is above the average yearly change for miscellaneous personal services during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for miscellaneous personal services was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Miscellaneous personal services:
Below are calculations of equivalent buying power for Miscellaneous personal services, over time, for $20 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|