Funeral Costs Aren’t Rising as Fast as Inflation, According to NFDA
The National Funeral Directors Association (NFDA) has officially released its 2023 Member General Price List Study, which offers a comprehensive breakdown of funeral costs by region and service.
It’s no secret that inflation is accelerating across the United States for many goods and services, but NFDA’s data shows that funeral costs are an exception. They have risen, but not at the same rate as inflation.
Here’s a quick summary of increases over the past two years:
- Overall rate of inflation = 13.6%
- Median funeral cost with casket and burial = 5.8% (From $7,848 to $8,300)
- Median funeral cost with cremation (including alternative cremation casket and urn) = 8.1% (From $5,810 to $6,280)
The study also includes the changes in median costs for services like embalming, hearses, basic memorial printed packages, and more.
You can view the highlights here. NFDA offers the full report for free to their members and $175 for non-members.
What does this means for you and your funeral business?
Talk to our experts directly at Trend ReCON 2024 in Tampa next January 15 and 16 and learn more about the latest trends in the funeral profession.
Register here: Trend ReCON 2024.
