According to the U.S. Bureau of Labor Statistics, prices for telephone services are 2.69% higher in 2024 versus 2020 (a $1.35 difference in value).
Between 2020 and 2024: Phone service experienced an average inflation rate of 0.67% per year. In other words, phone service costing $50 in the year 2020 would cost $51.35 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.89% 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 2020-2024 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 |
|---|---|---|
| 2020 | $50.00 | 3.18% |
| 2021 | $51.21 | 2.42% |
| 2022 | $51.40 | 0.38% |
| 2023 | $51.70 | 0.58% |
| 2024 | $51.35 | -0.69%* |
* 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 | 94.676 |