Phone service price inflation, 2002→2024

Phone Service Inflation Calculator

Prices for Phone Service, 2002-2024 ($50)

According to the U.S. Bureau of Labor Statistics, prices for telephone services are 5.05% lower in 2024 versus 2002 (a $2.53 difference in value).

Between 2002 and 2024: Phone service experienced an average inflation rate of -0.24% per year. In other words, phone service costing $50 in the year 2002 would cost $47.47 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.56% during this same period, inflation for phone service was lower.

In the year 2002: Pricing changed by 0.42%, which is above the average yearly change for phone service during the 2002-2024 time period. Compared to inflation for all items in 2002 (1.59%), inflation for phone service was lower.

Price Inflation for Telephone services since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2017 (-7.18%), 2020 (3.18%), and 2007 (2.60%).

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Buying power of $50.00 since 2002

Below are calculations of equivalent buying power for Phone service, over time, for $50 beginning in 2002. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2002	$50.00	0.42%
2003	$49.31	-1.38%
2004	$48.04	-2.58%
2005	$47.58	-0.96%
2006	$48.03	0.96%
2007	$49.28	2.60%
2008	$50.38	2.24%
2009	$51.36	1.93%
2010	$51.35	-0.01%
2011	$50.76	-1.14%
2012	$51.00	0.47%
2013	$50.94	-0.12%
2014	$50.73	-0.42%
2015	$49.81	-1.80%
2016	$49.58	-0.47%
2017	$46.02	-7.18%
2018	$45.33	-1.50%
2019	$44.82	-1.13%
2020	$46.24	3.18%
2021	$47.36	2.42%
2022	$47.54	0.38%
2023	$47.82	0.58%
2024	$47.47	-0.72%*

* 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 Telephone services:

Year	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	100.000	100.669	100.054	98.485	99.269	99.685	98.308	95.769	94.854	95.762	98.247	100.451	102.392	102.379	101.209	101.685	101.559	101.131	99.310	98.846	91.750	90.375	89.358	92.195	94.429	94.785	95.333	94.648

Adjust phone service prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2002 * 2002 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Telephone services was 99.685 in the year 2002 and 94.648 in 2024:

94.648 / 99.685 * $50 = $47.47

Therefore, according to U.S. Bureau of Labor Statistics, $50 in 2002 has the same "purchasing power" as $47.47 in 2024 (in the CPI category of Telephone services).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Telephone services in 1997. In addition to phone service, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.