According to the U.S. Bureau of Labor Statistics, prices for tools, hardware and supplies were 2.03% higher in 2020 versus 2016 (a $0.41 difference in value).
Between 2016 and 2020: Tools, hardware and supplies experienced an average inflation rate of 0.50% per year. In other words, tools, hardware and supplies costing $20 in the year 2016 would cost $20.41 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.87% during this same period, inflation for tools, hardware and supplies was lower.
In the year 2016: Pricing changed by -1.76%, which is below the average yearly change for tools, hardware and supplies during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for tools, hardware and supplies was much lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Tools, hardware and supplies:
Below are calculations of equivalent buying power for Tools, hardware and supplies, 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|