According to the U.S. Bureau of Labor Statistics, prices for recorded music and music subscriptions are 7.47% lower in 2023 versus 2014 (a $1.49 difference in value).
Between 2014 and 2023: Recorded music and music subscriptions experienced an average inflation rate of -0.86% per year. In other words, recorded music and music subscriptions costing $20 in the year 2014 would cost $18.51 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for recorded music and music subscriptions was significantly lower.
In the year 2014: Pricing changed by 0.10%, which is above the average yearly change for recorded music and music subscriptions during the 2014-2023 time period. Compared to inflation for all items in 2014 (1.62%), inflation for recorded music and music subscriptions was lower.
Below are calculations of equivalent buying power for Recorded music and music subscriptions, over time, for $20 beginning in 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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 Recorded music and music subscriptions: