According to the U.S. Bureau of Labor Statistics, prices for services are 618.35% higher in 2024 versus 1977 (a $123.67 difference in value).
Between 1977 and 2024: Services experienced an average inflation rate of 4.28% per year. This rate of change indicates significant inflation. In other words, services costing $20 in the year 1977 would cost $143.67 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.56% during this same period, inflation for services was higher.
In the year 1977: Pricing changed by 7.73%, which is significantly above the average yearly change for services during the 1977-2024 time period. Compared to inflation for all items in 1977 (6.50%), inflation for services was higher.
Below are calculations of equivalent buying power for Services, over time, for $20 beginning in 1977. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1977 | $20.00 | 7.73% |
| 1978 | $21.71 | 8.55% |
| 1979 | $24.11 | 11.04% |
| 1980 | $27.82 | 15.40% |
| 1981 | $31.47 | 13.12% |
| 1982 | $34.31 | 9.04% |
| 1983 | $35.50 | 3.46% |
| 1984 | $37.36 | 5.26% |
| 1985 | $39.27 | 5.09% |
| 1986 | $41.22 | 4.98% |
| 1987 | $42.93 | 4.15% |
| 1988 | $44.89 | 4.56% |
| 1989 | $47.11 | 4.93% |
| 1990 | $49.72 | 5.54% |
| 1991 | $52.27 | 5.13% |
| 1992 | $54.31 | 3.91% |
| 1993 | $56.39 | 3.83% |
| 1994 | $58.26 | 3.32% |
| 1995 | $60.25 | 3.41% |
| 1996 | $62.20 | 3.23% |
| 1997 | $64.09 | 3.04% |
| 1998 | $65.80 | 2.67% |
| 1999 | $67.45 | 2.51% |
| 2000 | $69.77 | 3.43% |
| 2001 | $72.67 | 4.16% |
| 2002 | $74.95 | 3.14% |
| 2003 | $77.34 | 3.19% |
| 2004 | $79.59 | 2.91% |
| 2005 | $82.20 | 3.28% |
| 2006 | $85.33 | 3.81% |
| 2007 | $88.18 | 3.34% |
| 2008 | $91.27 | 3.50% |
| 2009 | $92.58 | 1.43% |
| 2010 | $93.34 | 0.82% |
| 2011 | $94.94 | 1.72% |
| 2012 | $96.95 | 2.11% |
| 2013 | $99.29 | 2.42% |
| 2014 | $101.86 | 2.59% |
| 2015 | $104.20 | 2.30% |
| 2016 | $107.15 | 2.83% |
| 2017 | $110.06 | 2.71% |
| 2018 | $113.11 | 2.77% |
| 2019 | $116.14 | 2.68% |
| 2020 | $118.60 | 2.11% |
| 2021 | $121.97 | 2.85% |
| 2022 | $129.53 | 6.20% |
| 2023 | $137.36 | 6.04% |
| 2024 | $143.67 | 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 |