According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 830.10% higher in 2024 versus 1967 (a $59,609,602,578.06 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 $7,181,000,000 in the year 1967 would cost $66,790,602,578.06 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.00% 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 $7,181,000,000 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 | $7,181,000,000.00 | - |
1968 | $7,441,524,406.33 | 3.63% |
1969 | $7,812,574,318.38 | 4.99% |
1970 | $8,237,308,047.49 | 5.44% |
1971 | $8,491,516,710.64 | 3.09% |
1972 | $8,842,040,457.34 | 4.13% |
1973 | $10,016,768,689.53 | 13.29% |
1974 | $11,395,179,639.40 | 13.76% |
1975 | $12,356,751,539.14 | 8.44% |
1976 | $12,738,854,001.76 | 3.09% |
1977 | $13,498,322,119.61 | 5.96% |
1978 | $14,816,733,509.23 | 9.77% |
1979 | $16,403,563,984.17 | 10.71% |
1980 | $17,807,237,906.77 | 8.56% |
1981 | $19,191,964,599.82 | 7.78% |
1982 | $19,973,537,818.82 | 4.07% |
1983 | $20,418,797,713.28 | 2.23% |
1984 | $21,186,160,510.11 | 3.76% |
1985 | $21,680,367,414.25 | 2.33% |
1986 | $22,387,730,650.84 | 3.26% |
1987 | $23,298,776,605.10 | 4.07% |
1988 | $24,260,348,504.84 | 4.13% |
1989 | $25,635,601,583.11 | 5.67% |
1990 | $27,111,906,552.33 | 5.76% |
1991 | $28,078,215,259.45 | 3.56% |
1992 | $28,466,633,465.26 | 1.38% |
1993 | $29,061,892,260.33 | 2.09% |
1994 | $29,737,676,781.00 | 2.33% |
1995 | $30,557,144,459.10 | 2.76% |
1996 | $31,550,295,074.76 | 3.25% |
1997 | $32,377,657,431.84 | 2.62% |
1998 | $33,066,073,438.87 | 2.13% |
1999 | $33,778,173,482.85 | 2.15% |
2000 | $34,558,167,766.05 | 2.31% |
2001 | $35,627,107,299.91 | 3.09% |
2002 | $36,282,365,655.23 | 1.84% |
2003 | $37,057,623,131.05 | 2.14% |
2004 | $38,308,140,281.44 | 3.37% |
2005 | $39,239,712,401.06 | 2.43% |
2006 | $40,160,231,970.10 | 2.35% |
2007 | $41,729,615,204.49 | 3.91% |
2008 | $43,972,225,083.55 | 5.37% |
2009 | $44,798,197,977.13 | 1.88% |
2010 | $45,154,279,577.84 | 0.79% |
2011 | $46,772,136,141.16 | 3.58% |
2012 | $47,963,458,988.57 | 2.55% |
2013 | $48,639,985,609.06 | 1.41% |
2014 | $49,765,387,886.98 | 2.31% |
2015 | $50,659,460,281.44 | 1.80% |
2016 | $50,833,601,110.38 | 0.34% |
2017 | $51,281,987,297.71 | 0.88% |
2018 | $52,002,297,807.83 | 1.40% |
2019 | $52,960,174,997.80 | 1.84% |
2020 | $54,727,825,200.09 | 3.34% |
2021 | $56,819,204,608.62 | 3.82% |
2022 | $62,259,743,680.74 | 9.58% |
2023 | $65,783,865,219.88 | 5.66% |
2024 | $66,790,602,578.06 | 1.53%* |
* 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 | 325.392 |