According to the U.S. Bureau of Labor Statistics, prices for professional services are 914.66% higher in 2024 versus 1973 (a $182.93 difference in value).
Between 1973 and 2024: Professional services experienced an average inflation rate of 4.65% per year. This rate of change indicates significant inflation. In other words, professional services costing $20 in the year 1973 would cost $202.93 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.91% during this same period, inflation for professional services was higher.
In the year 1973: Pricing changed by 3.32%, which is below the average yearly change for professional services during the 1973-2024 time period. Compared to inflation for all items in 1973 (6.18%), inflation for professional services was lower.
Below are calculations of equivalent buying power for Professional services, over time, for $20 beginning in 1973. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1973 | $20.00 | 3.32% |
| 1974 | $21.73 | 8.65% |
| 1975 | $24.11 | 10.96% |
| 1976 | $26.30 | 9.08% |
| 1977 | $28.45 | 8.16% |
| 1978 | $30.61 | 7.62% |
| 1979 | $33.25 | 8.63% |
| 1980 | $36.94 | 11.09% |
| 1981 | $40.74 | 10.27% |
| 1982 | $44.20 | 8.49% |
| 1983 | $47.35 | 7.15% |
| 1984 | $50.73 | 7.13% |
| 1985 | $53.86 | 6.16% |
| 1986 | $57.31 | 6.41% |
| 1987 | $61.11 | 6.63% |
| 1988 | $65.22 | 6.74% |
| 1989 | $69.43 | 6.44% |
| 1990 | $74.03 | 6.63% |
| 1991 | $78.60 | 6.17% |
| 1992 | $83.36 | 6.06% |
| 1993 | $87.58 | 5.05% |
| 1994 | $91.32 | 4.27% |
| 1995 | $95.31 | 4.37% |
| 1996 | $98.80 | 3.66% |
| 1997 | $102.17 | 3.41% |
| 1998 | $105.40 | 3.17% |
| 1999 | $108.70 | 3.13% |
| 2000 | $112.72 | 3.70% |
| 2001 | $116.91 | 3.71% |
| 2002 | $120.42 | 3.00% |
| 2003 | $123.86 | 2.86% |
| 2004 | $128.76 | 3.95% |
| 2005 | $133.60 | 3.77% |
| 2006 | $137.22 | 2.71% |
| 2007 | $142.66 | 3.96% |
| 2008 | $147.49 | 3.38% |
| 2009 | $151.47 | 2.70% |
| 2010 | $155.65 | 2.76% |
| 2011 | $159.20 | 2.28% |
| 2012 | $162.20 | 1.89% |
| 2013 | $165.75 | 2.19% |
| 2014 | $168.44 | 1.63% |
| 2015 | $171.46 | 1.79% |
| 2016 | $176.22 | 2.78% |
| 2017 | $177.92 | 0.97% |
| 2018 | $179.45 | 0.86% |
| 2019 | $181.44 | 1.11% |
| 2020 | $184.91 | 1.91% |
| 2021 | $190.63 | 3.10% |
| 2022 | $195.31 | 2.45% |
| 2023 | $198.76 | 1.77% |
| 2024 | $202.93 | 2.10%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Professional services:
| Year | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 30.908 | 32.523 | 34.723 | 37.000 | 39.415 | 40.815 | 42.169 | 45.815 | 50.838 | 55.454 | 59.977 | 64.546 | 70.115 | 77.892 | 85.892 | 93.185 | 99.846 | 106.962 | 113.554 | 120.831 | 128.838 | 137.523 | 146.385 | 156.092 | 165.723 | 175.769 | 184.654 | 192.538 | 200.962 | 208.315 | 215.415 | 222.238 | 229.200 | 237.669 | 246.492 | 253.892 | 261.162 | 271.477 | 281.700 | 289.331 | 300.792 | 310.968 | 319.372 | 328.186 | 335.666 | 341.994 | 349.468 | 355.153 | 361.514 | 371.546 | 375.138 | 378.359 | 382.563 | 389.869 | 401.939 | 411.798 | 419.068 | 427.873 |