According to the U.S. Bureau of Labor Statistics, prices for services less energy services were 10.85% higher in 2020 versus 2016 (a $2.17 difference in value).
Between 2016 and 2020: Services less energy services experienced an average inflation rate of 2.61% per year. This rate of change indicates significant inflation. In other words, services less energy services costing $20 in the year 2016 would cost $22.17 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.85% during this same period, inflation for services less energy services was higher.
In the year 2016: Pricing changed by 3.10%, which is above the average yearly change for services less energy services during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), 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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|