According to the U.S. Bureau of Labor Statistics, prices for services less energy services were 7.97% higher in 2020 versus 2017 (a $1.59 difference in value).
Between 2017 and 2020: 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 2017 would cost $21.59 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.76% during this same period, inflation for services less energy services was higher.
In the year 2017: Pricing changed by 2.67%, which is above the average yearly change for services less energy services during the 2017-2020 time period. Compared to inflation for all items in 2017 (2.13%), 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 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|