According to the U.S. Bureau of Labor Statistics, prices for services less energy services were 22.98% higher in 2020 versus 2012 (a $4.60 difference in value).
Between 2012 and 2020: Services less energy services experienced an average inflation rate of 2.62% per year. This rate of change indicates significant inflation. In other words, services less energy services costing $20 in the year 2012 would cost $24.60 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.47% during this same period, inflation for services less energy services was higher.
In the year 2012: Pricing changed by 2.42%, which is below the average yearly change for services less energy services during the 2012-2020 time period. Compared to inflation for all items in 2012 (2.07%), inflation for services less energy services was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Services less energy services:
Below are calculations of equivalent buying power for Services less energy services, over time, for $20 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|