According to the U.S. Bureau of Labor Statistics, prices for electricity were 59.04% higher in 2021 versus 2001 (a $59.04 difference in value).
Between 2001 and 2021: Electricity experienced an average inflation rate of 2.35% per year. This rate of change indicates significant inflation. In other words, electricity costing $100 in the year 2001 would cost $159.04 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 2.06% during this same period, inflation for electricity was higher.
In the year 2001: Pricing changed by 7.25%, which is significantly above the average yearly change for electricity during the 2001-2021 time period. Compared to inflation for all items in 2001 (2.83%), inflation for electricity was much higher.