According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona were 12% higher in 2020 versus 2016 (a $0.60 difference in value).
Between 2016 and 2020: Phoenix experienced an average inflation rate of 2.87% per year. This rate of change indicates significant inflation. In other words, $5 in Phoenix in the year 2016 would cost $5.60 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.90% during this same period, inflation in Phoenix was higher.
In the year 2016: Pricing changed by 1.63%, which is below the average yearly change in Phoenix during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation in Phoenix was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Phoenix, Arizona:
Below are calculations of equivalent buying power in Phoenix, over time, for $5 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|