According to the U.S. Bureau of Labor Statistics, prices for telephone services are 1.35% higher in 2023 versus 2021 (a $0.67 difference in value).
Between 2021 and 2023: Phone service experienced an average inflation rate of 0.67% per year. In other words, phone service costing $50 in the year 2021 would cost $50.67 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.81% during this same period, inflation for phone service was significantly lower.
In the year 2021: Pricing changed by 2.42%, which is above the average yearly change for phone service during the 2021-2023 time period. Compared to inflation for all items in 2021 (4.70%), inflation for phone service was lower.
Below are calculations of equivalent buying power for Phone service, over time, for $50 beginning in 2021. 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: