According to the U.S. Bureau of Labor Statistics, prices for music instruments and accessories were 4.08% higher in 2020 versus 2018 (a $0.82 difference in value).
Between 2018 and 2020: Music instruments and accessories experienced an average inflation rate of 2.02% per year. This rate of change indicates significant inflation. In other words, music instruments and accessories costing $20 in the year 2018 would cost $20.82 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.42% during this same period, inflation for music instruments and accessories was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Music instruments and accessories:
Below are calculations of equivalent buying power for Music instruments and accessories, 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|