According to the U.S. Bureau of Labor Statistics, prices for services less energy services are 29.19% higher in 2021 versus 2011 (a $5.84 difference in value).
Between 2011 and 2021: Services less energy services experienced an average inflation rate of 2.59% per year. This rate of change indicates significant inflation. In other words, services less energy services costing $20 in the year 2011 would cost $25.84 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.82% during this same period, inflation for services less energy services was higher.
In the year 2011: Pricing changed by 1.78%, which is below the average yearly change for services less energy services during the 2011-2021 time period. Compared to inflation for all items in 2011 (3.16%), inflation for services less energy services was lower.
Below are calculations of equivalent buying power for Services less energy services, over time, for $20 beginning in 2011. 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 Services less energy services: