03 May Versus: The True Cost of Inflation

It’s hard to ignore the cost of inflation as prices are higher for everything from eggs and milk to cars. In fact, inflation rose 61.80 percent between 2002 and 2022. Much of that increase came in the last couple of years, with inflation rising by 12.45 percent between 2020 and 2022 alone. If you’re wondering how much more you’re spending now compared to 20 years ago, here are some sample prices from 2002 and 2022.