According to the U.S. Bureau of Labor Statistics, prices for services less energy services were 17.27% higher in 2020 versus 2014 (a $3.45 difference in value).
Between 2014 and 2020: Services less energy services experienced an average inflation rate of 2.69% per year. This rate of change indicates significant inflation. In other words, services less energy services costing $20 in the year 2014 would cost $23.45 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.46% during this same period, inflation for services less energy services was higher.
In the year 2014: Pricing changed by 2.47%, which is below the average yearly change for services less energy services during the 2014-2020 time period. Compared to inflation for all items in 2014 (1.62%), 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 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|