According to the U.S. Bureau of Labor Statistics, prices for tenants' and household insurance are 0.77% lower in 2022 versus 2020 (a $0.15 difference in value).
Between 2020 and 2022: Tenants' and household insurance experienced an average inflation rate of -0.39% per year. In other words, tenants' and household insurance costing $20 in the year 2020 would cost $19.85 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 5.26% 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 2020-2022 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Tenants' and household insurance: