According to the U.S. Bureau of Labor Statistics, prices for recorded music and music subscriptions are 2.86% higher in 2024 versus 2023 (a $0.57 difference in value).
Between 2023 and 2024: Recorded music and music subscriptions experienced an average inflation rate of 2.86% per year. This rate of change indicates significant inflation. In other words, recorded music and music subscriptions costing $20 in the year 2023 would cost $20.57 in 2024 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 higher.
In the year 2023: Pricing changed by 3.72%, which is above the average yearly change for recorded music and music subscriptions during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), 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 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2023 | $20.00 | 3.72% |
| 2024 | $20.57 | 2.86%* |
* 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:
| Year | 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 | 100.000 | 99.762 | 101.254 | 102.131 | 106.600 | 105.654 | 108.300 | 108.662 | 109.723 | 107.600 | 105.475 | 103.502 | 98.885 | 94.128 | 91.728 | 88.818 | 89.225 | 89.316 | 87.427 | 85.586 | 88.224 | 85.706 | 82.233 | 79.793 | 79.429 | 79.518 | 82.476 | 84.838 |