Professional services priced at $20 in 1967 $258.38 in 2021

Professional Services Inflation Calculator

$

Prices for Professional Services, 1967-2021 ($20)

According to the U.S. Bureau of Labor Statistics, prices for professional services were 1,191.89% higher in 2021 versus 1967 (a $238.38 difference in value).

Between 1967 and 2021: Professional services experienced an average inflation rate of 4.85% per year. This rate of change indicates significant inflation. In other words, professional services costing $20 in the year 1967 would cost $258.38 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.90% during this same period, inflation for professional services was higher.

Price Inflation for Professional services since 1967

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (11.09%), 1975 (10.96%), and 1981 (10.27%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Professional services:

Year 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
CPI 30.908 32.523 34.723 37.000 39.415 40.815 42.169 45.815 50.838 55.454 59.977 64.546 70.115 77.892 85.892 93.185 99.846 106.962 113.554 120.831 128.838 137.523 146.385 156.092 165.723 175.769 184.654 192.538 200.962 208.315 215.415 222.238 229.200 237.669 246.492 253.892 261.162 271.477 281.700 289.331 300.792 310.968 319.372 328.186 335.666 341.994 349.468 355.153 361.514 371.546 375.138 378.359 382.563 389.869 399.294

View price changes for other categories
St Louis, Missouri · Legal services · Denver, Colorado · Hospital services · More

Buying power of $20 since 1967

Below are calculations of equivalent buying power for Professional services, over time, for $20 beginning in 1967. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1967 $20.00 -
1968 $21.05 5.23%
1969 $22.47 6.76%
1970 $23.94 6.56%
1971 $25.51 6.53%
1972 $26.41 3.55%
1973 $27.29 3.32%
1974 $29.65 8.65%
1975 $32.90 10.96%
1976 $35.88 9.08%
1977 $38.81 8.16%
1978 $41.77 7.62%
1979 $45.37 8.63%
1980 $50.40 11.09%
1981 $55.58 10.27%
1982 $60.30 8.49%
1983 $64.61 7.15%
1984 $69.21 7.13%
1985 $73.48 6.16%
1986 $78.19 6.41%
1987 $83.37 6.63%
1988 $88.99 6.74%
1989 $94.72 6.44%
1990 $101.01 6.63%
1991 $107.24 6.17%
1992 $113.74 6.06%
1993 $119.49 5.05%
1994 $124.59 4.27%
1995 $130.04 4.37%
1996 $134.80 3.66%
1997 $139.39 3.41%
1998 $143.81 3.17%
1999 $148.31 3.13%
2000 $153.79 3.70%
2001 $159.50 3.71%
2002 $164.29 3.00%
2003 $168.99 2.86%
2004 $175.67 3.95%
2005 $182.28 3.77%
2006 $187.22 2.71%
2007 $194.64 3.96%
2008 $201.22 3.38%
2009 $206.66 2.70%
2010 $212.37 2.76%
2011 $217.21 2.28%
2012 $221.30 1.89%
2013 $226.14 2.19%
2014 $229.82 1.63%
2015 $233.93 1.79%
2016 $240.42 2.78%
2017 $242.75 0.97%
2018 $244.83 0.86%
2019 $247.55 1.11%
2020 $252.28 1.91%
2021 $258.38 2.42%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for professional services, 1967-2021

Start with the inflation rate formula:

CPI in 2021 / CPI in 1967 * 1967 USD value = 2021 USD value

Then plug in historical CPI values from above. The CPI for Professional services was 30.908 in the year 1967 and 399.294 in 2021:

399.294 / 30.908 * $20 = $258.38

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1967 has the same "purchasing power" as $258.38 in 2021 (in the CPI category of Professional services).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Professional services in 1967. In addition to professional services, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.