According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 17.62% higher in 2021 versus 2016 (a $0.18 difference in value).
Between 2016 and 2021: Phoenix experienced an average inflation rate of 3.30% per year. This rate of change indicates significant inflation. In other words, $1 in Phoenix in the year 2016 would cost $1.18 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.46% during this same period, inflation in Phoenix was higher.
In the year 2016: Pricing changed by 1.63%, which is below the average yearly change in Phoenix during the 2016-2021 time period. Compared to inflation for all items in 2016 (1.26%), inflation in Phoenix was higher.
Below are calculations of equivalent buying power in Phoenix, over time, for $1 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Phoenix, Arizona: