According to the U.S. Bureau of Labor Statistics, prices for recorded music and music subscriptions are 7.50% lower in 2022 versus 2016 (a $1.50 difference in value).
Between 2016 and 2022: Recorded music and music subscriptions experienced an average inflation rate of -1.29% per year. In other words, recorded music and music subscriptions costing $20 in the year 2016 would cost $18.50 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.17% during this same period, inflation for recorded music and music subscriptions was significantly lower.
In the year 2016: Pricing changed by -2.11%, which is below the average yearly change for recorded music and music subscriptions during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for recorded music and music subscriptions was much lower.
Below are calculations of equivalent buying power for Recorded music and music subscriptions, over time, for $20 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Recorded music and music subscriptions: