What Has Been the Cost-of-Living Increase for the Past Ten Years?

What Has Been the Cost-of-Living Increase for the Past Ten Years?

What Has Been the Cost-of-Living Increase for the Past Ten Years?

The average cost-of-living increase over the past decade is about 26 percent. This means that an item purchased ten years ago would have cost about 26 percent less than it costs to purchase that same item now.

Research shows that the average rate of inflation over the past decade has been about 2.58 percent, meaning that is the average amount that costs of goods and services has increased each year within the past ten years. The greatest cost increases in the past ten years have been in the costs of food. The food price index for major food commodities has nearly doubled over the past ten years.