Professional services priced at $20 in 1967 $274.87 in 2024

Professional Services Inflation Calculator

$

Prices for Professional Services, 1967-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for professional services are 1,274.37% higher in 2024 versus 1967 (a $254.87 difference in value).

Between 1967 and 2024: Professional services experienced an average inflation rate of 4.70% per year. This rate of change indicates significant inflation. In other words, professional services costing $20 in the year 1967 would cost $274.87 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.99% 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%).

View price changes for other categories
Dental services · Houston, Texas · Admission to sporting events · Legal services · More

Buying power of $20.00 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:

YearUSD ValueInflation Rate
1967$20.00-
1968$21.055.23%
1969$22.476.76%
1970$23.946.56%
1971$25.516.53%
1972$26.413.55%
1973$27.293.32%
1974$29.658.65%
1975$32.9010.96%
1976$35.889.08%
1977$38.818.16%
1978$41.777.62%
1979$45.378.63%
1980$50.4011.09%
1981$55.5810.27%
1982$60.308.49%
1983$64.617.15%
1984$69.217.13%
1985$73.486.16%
1986$78.196.41%
1987$83.376.63%
1988$88.996.74%
1989$94.726.44%
1990$101.016.63%
1991$107.246.17%
1992$113.746.06%
1993$119.495.05%
1994$124.594.27%
1995$130.044.37%
1996$134.803.66%
1997$139.393.41%
1998$143.813.17%
1999$148.313.13%
2000$153.793.70%
2001$159.503.71%
2002$164.293.00%
2003$168.992.86%
2004$175.673.95%
2005$182.283.77%
2006$187.222.71%
2007$194.643.96%
2008$201.223.38%
2009$206.662.70%
2010$212.372.76%
2011$217.212.28%
2012$221.301.89%
2013$226.142.19%
2014$229.821.63%
2015$233.931.79%
2016$240.422.78%
2017$242.750.97%
2018$244.830.86%
2019$247.551.11%
2020$252.281.91%
2021$260.093.10%
2022$266.472.45%
2023$271.171.77%
2024$274.871.36%*

* 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 Professional services:

Year1967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI30.90832.52334.72337.00039.41540.81542.16945.81550.83855.45459.97764.54670.11577.89285.89293.18599.846106.962113.554120.831128.838137.523146.385156.092165.723175.769184.654192.538200.962208.315215.415222.238229.200237.669246.492253.892261.162271.477281.700289.331300.792310.968319.372328.186335.666341.994349.468355.153361.514371.546375.138378.359382.563389.869401.939411.798419.068424.787

Adjust professional services prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1967 * 1967 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Professional services was 30.908 in the year 1967 and 424.787 in 2024:

424.787 / 30.908 * $20 = $274.87

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1967 has the same "purchasing power" as $274.87 in 2024 (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.