According to the U.S. Bureau of Labor Statistics, prices for tobacco and smoking products were 20.96% higher in 2020 versus 2016 (a $4.19 difference in value).
Between 2016 and 2020: Tobacco and smoking products experienced an average inflation rate of 4.87% per year. This rate of change indicates significant inflation. In other words, tobacco and smoking products costing $20 in the year 2016 would cost $24.19 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.85% during this same period, inflation for tobacco and smoking products was significantly higher.
In the year 2016: Pricing changed by 3.49%, which is below the average yearly change for tobacco and smoking products during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for tobacco and smoking products was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Tobacco and smoking products:
Below are calculations of equivalent buying power for Tobacco and smoking products, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|