According to the U.S. Bureau of Labor Statistics, prices for tenants' and household insurance are 0.55% lower in 2022 versus 2018 (a $0.11 difference in value).
Between 2018 and 2022: Tenants' and household insurance experienced an average inflation rate of -0.14% per year. In other words, tenants' and household insurance costing $20 in the year 2018 would cost $19.89 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.37% during this same period, inflation for tenants' and household insurance was significantly lower.
In the year 2018: Pricing changed by 1.30%, which is above the average yearly change for tenants' and household insurance during the 2018-2022 time period. Compared to inflation for all items in 2018 (2.44%), inflation for tenants' and household insurance was lower.
Below are calculations of equivalent buying power for Tenants' and household insurance, over time, for $20 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Tenants' and household insurance: