According to the U.S. Bureau of Labor Statistics, prices for telephone services are 3.18% lower in 2023 versus 2016 (a $1.59 difference in value).
Between 2016 and 2023: Phone service experienced an average inflation rate of -0.46% per year. In other words, phone service costing $50 in the year 2016 would cost $48.41 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.40% during this same period, inflation for phone service was significantly lower.
In the year 2016: Pricing changed by -0.47%, which is below the average yearly change for phone service during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation for phone service was lower.
Below are calculations of equivalent buying power for Phone service, over time, for $50 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 |
|---|---|---|
| 2016 | $50.00 | -0.47% |
| 2017 | $46.41 | -7.18% |
| 2018 | $45.71 | -1.50% |
| 2019 | $45.20 | -1.13% |
| 2020 | $46.64 | 3.18% |
| 2021 | $47.77 | 2.42% |
| 2022 | $47.95 | 0.38% |
| 2023 | $48.41 | 0.97%* |
* 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 |
| 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 | 95.700 |