According to the U.S. Bureau of Labor Statistics, prices for tenants' and household insurance are 0.52% lower in 2022 versus 2021 (a $0.10 difference in value).
Between 2021 and 2022: Tenants' and household insurance experienced an average inflation rate of -0.52% per year. In other words, tenants' and household insurance costing $20 in the year 2021 would cost $19.90 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 5.83% during this same period, inflation for tenants' and household insurance was significantly lower.
In the year 2021: Pricing changed by -0.25%, which is above the average yearly change for tenants' and household insurance during the 2021-2022 time period. Compared to inflation for all items in 2021 (4.70%), inflation for tenants' and household insurance was much lower.
Below are calculations of equivalent buying power for Tenants' and household insurance, over time, for $20 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Tenants' and household insurance: