According to the U.S. Bureau of Labor Statistics, prices for telephone services are 5.64% higher in 2023 versus 2018 (a $2.82 difference in value).
Between 2018 and 2023: Phone service experienced an average inflation rate of 1.10% per year. In other words, phone service costing $50 in the year 2018 would cost $52.82 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.91% during this same period, inflation for phone service was lower.
In the year 2018: Pricing changed by -1.50%, which is below the average yearly change for phone service during the 2018-2023 time period. Compared to inflation for all items in 2018 (2.44%), inflation for phone service was much lower.
Below are calculations of equivalent buying power for Phone service, over time, for $50 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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: