According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 829.42% higher in 2024 versus 1967 (a $190,766,811,052.48 difference in value).
Between 1967 and 2024: Food and beverages experienced an average inflation rate of 3.99% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $23,000,000,000 in the year 1967 would cost $213,766,811,052.48 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.99% during this same period, inflation for food and beverages was lower.
Below are calculations of equivalent buying power for Food and beverages, over time, for $23,000,000,000 beginning in 1967. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1967 | $23,000,000,000.00 | - |
1968 | $23,834,432,717.68 | 3.63% |
1969 | $25,022,867,194.37 | 4.99% |
1970 | $26,383,245,382.59 | 5.44% |
1971 | $27,197,449,428.32 | 3.09% |
1972 | $28,320,140,721.20 | 4.13% |
1973 | $32,082,673,702.73 | 13.29% |
1974 | $36,497,581,354.44 | 13.76% |
1975 | $39,577,396,657.87 | 8.44% |
1976 | $40,801,231,310.47 | 3.09% |
1977 | $43,233,729,111.70 | 5.96% |
1978 | $47,456,464,379.95 | 9.77% |
1979 | $52,538,918,205.80 | 10.71% |
1980 | $57,034,740,545.29 | 8.56% |
1981 | $61,469,876,868.95 | 7.78% |
1982 | $63,973,175,021.99 | 4.07% |
1983 | $65,399,296,394.02 | 2.23% |
1984 | $67,857,080,035.18 | 3.76% |
1985 | $69,439,973,614.78 | 2.33% |
1986 | $71,705,584,872.47 | 3.26% |
1987 | $74,623,570,800.35 | 4.07% |
1988 | $77,703,386,103.78 | 4.13% |
1989 | $82,108,179,419.53 | 5.67% |
1990 | $86,836,631,486.37 | 5.76% |
1991 | $89,931,618,293.76 | 3.56% |
1992 | $91,175,681,618.29 | 1.38% |
1993 | $93,082,233,948.99 | 2.09% |
1994 | $95,246,701,846.97 | 2.33% |
1995 | $97,871,372,031.66 | 2.76% |
1996 | $101,052,330,694.81 | 3.25% |
1997 | $103,702,286,719.44 | 2.62% |
1998 | $105,907,211,961.30 | 2.13% |
1999 | $108,187,994,722.96 | 2.15% |
2000 | $110,686,235,708.00 | 2.31% |
2001 | $114,109,938,434.48 | 3.09% |
2002 | $116,208,663,148.64 | 1.84% |
2003 | $118,691,732,629.73 | 2.14% |
2004 | $122,697,009,674.58 | 3.37% |
2005 | $125,680,738,786.28 | 2.43% |
2006 | $128,629,067,722.08 | 2.35% |
2007 | $133,655,639,841.69 | 3.91% |
2008 | $140,838,487,247.14 | 5.37% |
2009 | $143,483,992,963.94 | 1.88% |
2010 | $144,624,485,488.13 | 0.79% |
2011 | $149,806,312,664.91 | 3.58% |
2012 | $153,621,996,481.97 | 2.55% |
2013 | $155,788,841,248.90 | 1.41% |
2014 | $159,393,388,302.55 | 2.31% |
2015 | $162,257,009,674.58 | 1.80% |
2016 | $162,814,764,731.75 | 0.34% |
2017 | $164,250,899,296.39 | 0.88% |
2018 | $166,557,979,331.57 | 1.40% |
2019 | $169,625,960,861.92 | 1.84% |
2020 | $175,287,561,565.52 | 3.34% |
2021 | $181,986,033,421.28 | 3.82% |
2022 | $199,411,517,150.40 | 9.58% |
2023 | $210,698,913,808.27 | 5.66% |
2024 | $213,766,811,052.48 | 1.46%* |
* 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 Food and beverages:
Year | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 34.985 | 36.254 | 38.062 | 40.131 | 41.369 | 43.077 | 48.800 | 55.515 | 60.200 | 62.062 | 65.762 | 72.185 | 79.915 | 86.754 | 93.500 | 97.308 | 99.477 | 103.215 | 105.623 | 109.069 | 113.508 | 118.192 | 124.892 | 132.085 | 136.792 | 138.685 | 141.585 | 144.877 | 148.869 | 153.708 | 157.738 | 161.092 | 164.562 | 168.362 | 173.569 | 176.762 | 180.538 | 186.631 | 191.169 | 195.654 | 203.300 | 214.225 | 218.249 | 219.984 | 227.866 | 233.670 | 236.966 | 242.449 | 246.804 | 247.653 | 249.837 | 253.346 | 258.013 | 266.625 | 276.814 | 303.319 | 320.488 | 325.154 |