According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 10.19% higher in 2021 versus 2018 (a $101.94 difference in value).
Between 2018 and 2021: Phoenix experienced an average inflation rate of 3.29% per year. This rate of change indicates significant inflation. In other words, $1,000 in Phoenix in the year 2018 would cost $1,101.94 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.57% during this same period, inflation in Phoenix was higher.
In the year 2018: Pricing changed by 4.16%, which is above the average yearly change in Phoenix during the 2018-2021 time period. Compared to inflation for all items in 2018 (2.44%), inflation in Phoenix was higher.
Below are calculations of equivalent buying power in Phoenix, 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 Phoenix, Arizona: