According to the U.S. Bureau of Labor Statistics, prices for services are 2,458.32% higher in 2024 versus 1948 (a $491.66 difference in value).
Between 1948 and 2024: Services experienced an average inflation rate of 4.36% per year. This rate of change indicates significant inflation. In other words, services costing $20 in the year 1948 would cost $511.66 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.44% during this same period, inflation for services was higher.
In the year 1948: Pricing changed by 6.36%, which is above the average yearly change for services during the 1948-2024 time period. Compared to inflation for all items in 1948 (7.72%), inflation for services was lower.
Below are calculations of equivalent buying power for Services, over time, for $20 beginning in 1948. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1948 | $20.00 | 6.36% |
| 1949 | $20.92 | 4.58% |
| 1950 | $21.55 | 3.04% |
| 1951 | $22.72 | 5.43% |
| 1952 | $23.77 | 4.59% |
| 1953 | $24.76 | 4.18% |
| 1954 | $25.50 | 2.98% |
| 1955 | $26.01 | 2.00% |
| 1956 | $26.64 | 2.44% |
| 1957 | $27.74 | 4.11% |
| 1958 | $28.78 | 3.78% |
| 1959 | $29.64 | 2.99% |
| 1960 | $30.59 | 3.20% |
| 1961 | $31.24 | 2.11% |
| 1962 | $31.83 | 1.88% |
| 1963 | $32.44 | 1.94% |
| 1964 | $33.05 | 1.87% |
| 1965 | $33.83 | 2.37% |
| 1966 | $35.09 | 3.73% |
| 1967 | $36.65 | 4.43% |
| 1968 | $38.55 | 5.18% |
| 1969 | $41.23 | 6.96% |
| 1970 | $44.60 | 8.17% |
| 1971 | $47.06 | 5.53% |
| 1972 | $48.89 | 3.89% |
| 1973 | $50.97 | 4.24% |
| 1974 | $55.74 | 9.37% |
| 1975 | $61.09 | 9.59% |
| 1976 | $66.12 | 8.23% |
| 1977 | $71.23 | 7.73% |
| 1978 | $77.31 | 8.55% |
| 1979 | $85.85 | 11.04% |
| 1980 | $99.07 | 15.40% |
| 1981 | $112.07 | 13.12% |
| 1982 | $122.20 | 9.04% |
| 1983 | $126.42 | 3.46% |
| 1984 | $133.07 | 5.26% |
| 1985 | $139.84 | 5.09% |
| 1986 | $146.81 | 4.98% |
| 1987 | $152.90 | 4.15% |
| 1988 | $159.87 | 4.56% |
| 1989 | $167.76 | 4.93% |
| 1990 | $177.06 | 5.54% |
| 1991 | $186.15 | 5.13% |
| 1992 | $193.42 | 3.91% |
| 1993 | $200.83 | 3.83% |
| 1994 | $207.50 | 3.32% |
| 1995 | $214.57 | 3.41% |
| 1996 | $221.51 | 3.23% |
| 1997 | $228.25 | 3.04% |
| 1998 | $234.35 | 2.67% |
| 1999 | $240.22 | 2.51% |
| 2000 | $248.47 | 3.43% |
| 2001 | $258.81 | 4.16% |
| 2002 | $266.93 | 3.14% |
| 2003 | $275.44 | 3.19% |
| 2004 | $283.45 | 2.91% |
| 2005 | $292.75 | 3.28% |
| 2006 | $303.90 | 3.81% |
| 2007 | $314.06 | 3.34% |
| 2008 | $325.06 | 3.50% |
| 2009 | $329.71 | 1.43% |
| 2010 | $332.41 | 0.82% |
| 2011 | $338.12 | 1.72% |
| 2012 | $345.26 | 2.11% |
| 2013 | $353.60 | 2.42% |
| 2014 | $362.76 | 2.59% |
| 2015 | $371.10 | 2.30% |
| 2016 | $381.61 | 2.83% |
| 2017 | $391.97 | 2.71% |
| 2018 | $402.81 | 2.77% |
| 2019 | $413.62 | 2.68% |
| 2020 | $422.37 | 2.11% |
| 2021 | $434.39 | 2.85% |
| 2022 | $461.31 | 6.20% |
| 2023 | $489.18 | 6.04% |
| 2024 | $511.66 | 4.60%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Services:
| Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 11.800 | 11.900 | 12.320 | 12.500 | 12.500 | 12.560 | 12.720 | 13.160 | 13.420 | 13.720 | 13.880 | 14.180 | 14.780 | 15.720 | 16.440 | 16.940 | 17.860 | 18.680 | 19.460 | 20.040 | 20.440 | 20.938 | 21.800 | 22.623 | 23.300 | 24.046 | 24.554 | 25.015 | 25.500 | 25.977 | 26.592 | 27.585 | 28.808 | 30.300 | 32.408 | 35.054 | 36.992 | 38.431 | 40.062 | 43.815 | 48.015 | 51.969 | 55.985 | 60.769 | 67.477 | 77.869 | 88.085 | 96.046 | 99.369 | 104.592 | 109.915 | 115.392 | 120.177 | 125.662 | 131.862 | 139.169 | 146.315 | 152.031 | 157.854 | 163.092 | 168.654 | 174.108 | 179.408 | 184.200 | 188.815 | 195.300 | 203.423 | 209.808 | 216.492 | 222.792 | 230.100 | 238.869 | 246.848 | 255.498 | 259.154 | 261.274 | 265.762 | 271.374 | 277.929 | 285.126 | 291.683 | 299.947 | 308.085 | 316.607 | 325.106 | 331.980 | 341.428 | 362.587 | 384.494 | 402.168 |