According to the U.S. Bureau of Labor Statistics, prices for telephone services are 3.55% higher in 2023 versus 2020 (a $1.77 difference in value).
Between 2020 and 2023: Phone service experienced an average inflation rate of 1.17% per year. In other words, phone service costing $50 in the year 2020 would cost $51.77 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.54% during this same period, inflation for phone service was significantly lower.
In the year 2020: Pricing changed by 3.18%, which is above the average yearly change for phone service during the 2020-2023 time period. Compared to inflation for all items in 2020 (1.23%), inflation for phone service was higher.
Below are calculations of equivalent buying power for Phone service, over time, for $50 beginning in 2020. 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: