According to the U.S. Bureau of Labor Statistics, prices for wireless telephone services are 12.61% lower in 2022 versus 2016 (a $6.30 difference in value).
Between 2016 and 2022: Cell service experienced an average inflation rate of -2.22% per year. This rate of change indicates significant deflation. In other words, cell service costing $50 in the year 2016 would cost $43.70 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.31% during this same period, inflation for cell service was significantly lower.
In the year 2016: Pricing changed by -0.97%, which is above the average yearly change for cell service during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for cell service was lower.
Below are calculations of equivalent buying power for Cell service, over time, for $50 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|
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Wireless telephone services: