According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona were 13.83% higher in 2020 versus 2015 (a $165,959.74 difference in value).
Between 2015 and 2020: Phoenix experienced an average inflation rate of 2.62% per year. This rate of change indicates significant inflation. In other words, $1,200,000 in Phoenix in the year 2015 would cost $1,365,959.74 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.77% during this same period, inflation in Phoenix was higher.
In the year 2015: Pricing changed by 0.15%, which is below the average yearly change in Phoenix during the 2015-2020 time period. Compared to inflation for all items in 2015 (0.12%), inflation in Phoenix was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Phoenix, Arizona:
Below are calculations of equivalent buying power in Phoenix, over time, for $1200000 beginning in 2015. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|