According to the U.S. Bureau of Labor Statistics, prices for tenants' and household insurance are 0.67% higher in 2023 versus 2020 (a $0.13 difference in value).
Between 2020 and 2023: Tenants' and household insurance experienced an average inflation rate of 0.22% per year. In other words, tenants' and household insurance costing $20 in the year 2020 would cost $20.13 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.44% during this same period, inflation for tenants' and household insurance was significantly lower.
In the year 2020: Pricing changed by -0.45%, which is below the average yearly change for tenants' and household insurance during the 2020-2023 time period. Compared to inflation for all items in 2020 (1.23%), 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 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 Tenants' and household insurance: