According to the U.S. Bureau of Labor Statistics, prices for other goods and services are 13.09% higher in 2022 versus 2018 (a $130.93 difference in value).
Between 2018 and 2022: Other goods and services experienced an average inflation rate of 3.12% per year. This rate of change indicates significant inflation. In other words, other goods and services costing $1,000 in the year 2018 would cost $1,130.93 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.62% during this same period, inflation for other goods and services was lower.
In the year 2018: Pricing changed by 2.25%, which is below the average yearly change for other goods and services during the 2018-2022 time period. Compared to inflation for all items in 2018 (2.44%), inflation for other goods and services was lower.
Below are calculations of equivalent buying power for Other goods and services, over time, for $1,000 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Other goods and services: