According to the U.S. Bureau of Labor Statistics, prices for tobacco and smoking products were 13.94% higher in 2020 versus 2017 (a $2.79 difference in value).
Between 2017 and 2020: Tobacco and smoking products experienced an average inflation rate of 4.45% per year. This rate of change indicates significant inflation. In other words, tobacco and smoking products costing $20 in the year 2017 would cost $22.79 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.76% during this same period, inflation for tobacco and smoking products was higher.
In the year 2017: Pricing changed by 6.16%, which is above the average yearly change for tobacco and smoking products during the 2017-2020 time period. Compared to inflation for all items in 2017 (2.13%), inflation for tobacco and smoking products was much 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 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|