Phone service priced at $50 in 2020 $51.77 in 2023

Phone Service Inflation Calculator


Prices for Phone Service, 2020-2023 ($50)

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.

Price Inflation for Telephone services since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2017 (-7.18%), 2020 (3.18%), and 2007 (2.60%).

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Buying power of $50.00 since 2020

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:

YearUSD ValueInflation 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:


Adjust phone service prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2020 * 2020 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Telephone services was 92.195 in the year 2020 and 95.468 in 2023:

95.468 / 92.195 * $50 = $51.77

Therefore, according to U.S. Bureau of Labor Statistics, $50 in 2020 has the same "purchasing power" as $51.77 in 2023 (in the CPI category of Telephone services).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Telephone services in 1997. In addition to phone service, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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