According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 5.01% higher in 2021 versus 2020 (a $0.05 difference in value).
Between 2020 and 2021: Phoenix experienced an average inflation rate of 5.01% per year. This rate of change indicates significant inflation. In other words, $1 in Phoenix in the year 2020 would cost $1.05 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 4.70% during this same period, inflation in Phoenix was higher.
In the year 2020: Pricing changed by 1.96%, which is significantly below the average yearly change in Phoenix during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), inflation in Phoenix was higher.
Below are calculations of equivalent buying power in Phoenix, over time, for $1 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Phoenix, Arizona: