According to the U.S. Bureau of Labor Statistics, prices for wireless telephone services are 1.29% higher in 2022 versus 2020 (a $0.65 difference in value).
Between 2020 and 2022: Cell service experienced an average inflation rate of 0.64% per year. In other words, cell service costing $50 in the year 2020 would cost $50.65 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 5.01% during this same period, inflation for cell service was significantly lower.
In the year 2020: Pricing changed by 2.02%, which is above the average yearly change for cell service during the 2020-2022 time period. Compared to inflation for all items in 2020 (1.23%), inflation for cell service was higher.
Below are calculations of equivalent buying power for Cell service, over time, for $50 beginning in 2020. 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 Wireless telephone services: