According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 829.42% higher in 2024 versus 1967 (a $3,525,038,899,882.73 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 $425,000,000,000 in the year 1967 would cost $3,950,038,899,882.73 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 $425,000,000,000 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 | $425,000,000,000.00 | - |
1968 | $440,418,865,435.36 | 3.63% |
1969 | $462,379,067,722.08 | 4.99% |
1970 | $487,516,490,765.17 | 5.44% |
1971 | $502,561,565,523.31 | 3.09% |
1972 | $523,306,948,109.06 | 4.13% |
1973 | $592,832,014,072.12 | 13.29% |
1974 | $674,411,829,375.55 | 13.76% |
1975 | $731,321,459,982.41 | 8.44% |
1976 | $753,935,795,954.27 | 3.09% |
1977 | $798,884,124,890.06 | 5.96% |
1978 | $876,912,928,759.89 | 9.77% |
1979 | $970,827,836,411.61 | 10.71% |
1980 | $1,053,902,814,423.92 | 8.56% |
1981 | $1,135,856,420,404.57 | 7.78% |
1982 | $1,182,113,016,710.64 | 4.07% |
1983 | $1,208,465,259,454.71 | 2.23% |
1984 | $1,253,880,826,737.03 | 3.76% |
1985 | $1,283,129,947,229.55 | 2.33% |
1986 | $1,324,994,503,078.28 | 3.26% |
1987 | $1,378,913,808,267.37 | 4.07% |
1988 | $1,435,823,438,874.23 | 4.13% |
1989 | $1,517,216,358,839.05 | 5.67% |
1990 | $1,604,589,929,639.40 | 5.76% |
1991 | $1,661,779,903,254.18 | 3.56% |
1992 | $1,684,768,029,903.25 | 1.38% |
1993 | $1,719,997,801,231.31 | 2.09% |
1994 | $1,759,993,403,693.93 | 2.33% |
1995 | $1,808,492,744,063.32 | 2.76% |
1996 | $1,867,271,328,056.29 | 3.25% |
1997 | $1,916,237,906,772.21 | 2.62% |
1998 | $1,956,981,090,589.27 | 2.13% |
1999 | $1,999,125,989,445.91 | 2.15% |
2000 | $2,045,289,138,082.67 | 2.31% |
2001 | $2,108,553,210,202.29 | 3.09% |
2002 | $2,147,333,992,963.94 | 1.84% |
2003 | $2,193,216,798,592.79 | 2.14% |
2004 | $2,267,227,352,682.50 | 3.37% |
2005 | $2,322,361,477,572.56 | 2.43% |
2006 | $2,376,841,468,777.49 | 2.35% |
2007 | $2,469,723,779,683.38 | 3.91% |
2008 | $2,602,450,307,827.62 | 5.37% |
2009 | $2,651,334,652,594.55 | 1.88% |
2010 | $2,672,408,970,976.25 | 0.79% |
2011 | $2,768,160,125,329.82 | 3.58% |
2012 | $2,838,667,326,297.27 | 2.55% |
2013 | $2,878,706,849,164.47 | 1.41% |
2014 | $2,945,312,609,938.43 | 2.31% |
2015 | $2,998,227,352,682.50 | 1.80% |
2016 | $3,008,533,696,130.17 | 0.34% |
2017 | $3,035,070,965,259.45 | 0.88% |
2018 | $3,077,701,791,996.48 | 1.40% |
2019 | $3,134,392,755,057.17 | 1.84% |
2020 | $3,239,009,289,797.71 | 3.34% |
2021 | $3,362,785,400,175.90 | 3.82% |
2022 | $3,684,778,034,300.79 | 9.58% |
2023 | $3,893,349,494,283.20 | 5.66% |
2024 | $3,950,038,899,882.73 | 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 |