According to the U.S. Bureau of Labor Statistics, prices for services less medical care services were 11.70% higher in 2021 versus 2016 (a $2.34 difference in value).
Between 2016 and 2021: Services less medical care services experienced an average inflation rate of 2.24% per year. This rate of change indicates significant inflation. In other words, services less medical care services costing $20 in the year 2016 would cost $22.34 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.93% during this same period, inflation for services less medical care services was higher.
In the year 2016: Pricing changed by 2.71%, which is above the average yearly change for services less medical care services during the 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), inflation for services less medical care services was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Services less medical care services:
Below are calculations of equivalent buying power for Services less medical care 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|