According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 829.42% higher in 2024 versus 1967 (a $49,765,255,057.17 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 $6,000,000,000 in the year 1967 would cost $55,765,255,057.17 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 $6,000,000,000 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 | $6,000,000,000.00 | - |
1968 | $6,217,678,100.26 | 3.63% |
1969 | $6,527,704,485.49 | 4.99% |
1970 | $6,882,585,751.98 | 5.44% |
1971 | $7,094,986,807.39 | 3.09% |
1972 | $7,387,862,796.83 | 4.13% |
1973 | $8,369,393,139.84 | 13.29% |
1974 | $9,521,108,179.42 | 13.76% |
1975 | $10,324,538,258.58 | 8.44% |
1976 | $10,643,799,472.30 | 3.09% |
1977 | $11,278,364,116.09 | 5.96% |
1978 | $12,379,947,229.55 | 9.77% |
1979 | $13,705,804,749.34 | 10.71% |
1980 | $14,878,627,968.34 | 8.56% |
1981 | $16,035,620,052.77 | 7.78% |
1982 | $16,688,654,353.56 | 4.07% |
1983 | $17,060,686,015.83 | 2.23% |
1984 | $17,701,846,965.70 | 3.76% |
1985 | $18,114,775,725.59 | 2.33% |
1986 | $18,705,804,749.34 | 3.26% |
1987 | $19,467,018,469.66 | 4.07% |
1988 | $20,270,448,548.81 | 4.13% |
1989 | $21,419,525,065.96 | 5.67% |
1990 | $22,653,034,300.79 | 5.76% |
1991 | $23,460,422,163.59 | 3.56% |
1992 | $23,784,960,422.16 | 1.38% |
1993 | $24,282,321,899.74 | 2.09% |
1994 | $24,846,965,699.21 | 2.33% |
1995 | $25,531,662,269.13 | 2.76% |
1996 | $26,361,477,572.56 | 3.25% |
1997 | $27,052,770,448.55 | 2.62% |
1998 | $27,627,968,337.73 | 2.13% |
1999 | $28,222,955,145.12 | 2.15% |
2000 | $28,874,670,184.70 | 2.31% |
2001 | $29,767,810,026.39 | 3.09% |
2002 | $30,315,303,430.08 | 1.84% |
2003 | $30,963,060,686.02 | 2.14% |
2004 | $32,007,915,567.28 | 3.37% |
2005 | $32,786,279,683.38 | 2.43% |
2006 | $33,555,408,970.98 | 2.35% |
2007 | $34,866,688,654.35 | 3.91% |
2008 | $36,740,474,934.04 | 5.37% |
2009 | $37,430,606,860.16 | 1.88% |
2010 | $37,728,126,649.08 | 0.79% |
2011 | $39,079,907,651.72 | 3.58% |
2012 | $40,075,303,430.08 | 2.55% |
2013 | $40,640,567,282.32 | 1.41% |
2014 | $41,580,883,905.01 | 2.31% |
2015 | $42,327,915,567.28 | 1.80% |
2016 | $42,473,416,886.54 | 0.34% |
2017 | $42,848,060,686.02 | 0.88% |
2018 | $43,449,907,651.72 | 1.40% |
2019 | $44,250,250,659.63 | 1.84% |
2020 | $45,727,189,973.61 | 3.34% |
2021 | $47,474,617,414.25 | 3.82% |
2022 | $52,020,395,778.36 | 9.58% |
2023 | $54,964,934,036.94 | 5.66% |
2024 | $55,765,255,057.17 | 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 |