According to the U.S. Bureau of Labor Statistics, prices for other personal services are 19.94% higher in 2022 versus 2016 (a $3.99 difference in value).
Between 2016 and 2022: Other personal services experienced an average inflation rate of 3.08% per year. This rate of change indicates significant inflation. In other words, other personal services costing $20 in the year 2016 would cost $23.99 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.93% during this same period, inflation for other personal services was higher.
In the year 2016: Pricing changed by 2.81%, which is below the average yearly change for other personal services during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for other personal services was higher.
Below are calculations of equivalent buying power for Other 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Other personal services: