According to the U.S. Bureau of Labor Statistics, prices for recorded music and music subscriptions are 10.32% lower in 2022 versus 2017 (a $2.06 difference in value).
Between 2017 and 2022: Recorded music and music subscriptions experienced an average inflation rate of -2.16% per year. This rate of change indicates significant deflation. In other words, recorded music and music subscriptions costing $20 in the year 2017 would cost $17.94 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.30% during this same period, inflation for recorded music and music subscriptions was significantly lower.
In the year 2017: Pricing changed by 3.08%, which is significantly above the average yearly change for recorded music and music subscriptions during the 2017-2022 time period. Compared to inflation for all items in 2017 (2.13%), inflation for recorded music and music subscriptions was higher.
Below are calculations of equivalent buying power for Recorded music and music subscriptions, over time, for $20 beginning in 2017. 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: