According to the U.S. Bureau of Labor Statistics, prices for telephone services were 2.45% higher in 2020 versus 2019 (a $1.23 difference in value).
Between 2019 and 2020: Phone service experienced an average inflation rate of 2.45% per year. This rate of change indicates significant inflation. In other words, phone service costing $50 in the year 2019 would cost $51.23 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.03% during this same period, inflation for phone service was higher.
In the year 2019: Pricing changed by -1.13%, which is significantly below the average yearly change for phone service during the 2019-2020 time period. Compared to inflation for all items in 2019 (1.81%), inflation for phone service was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Telephone services:
Below are calculations of equivalent buying power for Phone service, over time, for $50 beginning in 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|