According to the U.S. Bureau of Labor Statistics, prices for music instruments and accessories are 14.90% higher in 2024 versus 2020 (a $2.98 difference in value).
Between 2020 and 2024: Music instruments and accessories experienced an average inflation rate of 3.53% per year. This rate of change indicates significant inflation. In other words, music instruments and accessories costing $20 in the year 2020 would cost $22.98 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.89% during this same period, inflation for music instruments and accessories was lower.
In the year 2020: Pricing changed by 3.35%, which is below the average yearly change for music instruments and accessories during the 2020-2024 time period. Compared to inflation for all items in 2020 (1.23%), inflation for music instruments and accessories was higher.
Below are calculations of equivalent buying power for Music instruments and accessories, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2020 | $20.00 | 3.35% |
| 2021 | $20.31 | 1.53% |
| 2022 | $21.54 | 6.05% |
| 2023 | $22.94 | 6.51% |
| 2024 | $22.98 | 0.18%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Music instruments and accessories:
| Year | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 100.000 | 100.669 | 99.338 | 99.200 | 100.162 | 100.038 | 99.185 | 97.900 | 97.785 | 97.677 | 95.144 | 96.326 | 97.333 | 97.497 | 95.416 | 95.648 | 97.894 | 98.614 | 99.090 | 101.234 | 101.678 | 100.559 | 101.534 | 104.937 | 106.547 | 112.994 | 120.351 | 120.572 |