According to the U.S. Bureau of Labor Statistics, prices for services less rent of shelter were 27.44% higher in 2020 versus 2008 (a $5.49 difference in value).
Between 2008 and 2020: Services less rent of shelter experienced an average inflation rate of 2.04% per year. This rate of change indicates significant inflation. In other words, services less rent of shelter costing $20 in the year 2008 would cost $25.49 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.54% during this same period, inflation for services less rent of shelter was higher.
In the year 2008: Pricing changed by 4.69%, which is above the average yearly change for services less rent of shelter during the 2008-2020 time period. Compared to inflation for all items in 2008 (3.84%), inflation for services less rent of shelter was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Services less rent of shelter:
Below are calculations of equivalent buying power for Services less rent of shelter, over time, for $20 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|