Food priced at $980 in 1914 $24,457.71 in 2018

Historical Price Inflation for Food

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Prices for Food, 1914-2018 ($980)

According to the U.S. Bureau of Labor Statistics, prices for food were 2,395.68% higher in 2018 versus 1914 (a $23,477.71 difference in value).

Between 1914 and 2018: Food experienced an average inflation rate of 3.14% per year. This rate of change indicates significant inflation. In other words, food costing $980 in the year 1914 would cost $24,457.71 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.15% during this same period, inflation for food was lower.

In the year 1914: Pricing changed by 2.33%, which is below the average yearly change for food during the 1914-2018 time period. Compared to inflation for all items in 1914 (1.32%), inflation for food was higher.

Price Inflation for Food since 1913

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1917 (28.65%), 1921 (-24.20%), and 1947 (21.43%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Food:

Year 1913 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 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
CPI 9.923 10.154 10.054 11.277 14.508 16.700 18.577 20.977 15.900 14.892 15.385 15.231 16.500 17.046 16.431 16.246 16.454 15.646 12.900 10.723 10.415 11.608 12.454 12.569 13.085 12.138 11.823 11.985 13.077 15.385 17.100 16.877 17.262 19.815 24.062 26.085 25.062 25.392 28.223 28.723 28.269 28.238 27.815 28.023 28.923 30.169 29.662 30.015 30.362 30.631 31.069 31.477 32.177 33.808 34.062 35.292 37.108 39.200 40.354 42.092 48.177 55.115 59.792 61.631 65.515 72.054 79.915 86.777 93.562 97.354 99.408 103.231 105.569 108.946 113.485 118.177 125.077 132.369 136.254 137.892 140.862 144.277 148.415 153.285 157.277 160.685 164.100 167.815 173.085 176.215 179.977 186.177 190.723 195.177 202.916 214.106 217.955 219.625 227.842 233.777 237.037 242.725 247.235 247.931 250.065 253.408

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Buying power of $980 since 1914

Below are calculations of equivalent buying power for Food, over time, for $980 beginning in 1914. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1914 $980.00 2.33%
1915 $970.35 -0.98%
1916 $1,088.39 12.17%
1917 $1,400.21 28.65%
1918 $1,611.80 15.11%
1919 $1,792.95 11.24%
1920 $2,024.59 12.92%
1921 $1,534.59 -24.20%
1922 $1,437.33 -6.34%
1923 $1,484.85 3.31%
1924 $1,470.00 -1.00%
1925 $1,592.50 8.33%
1926 $1,645.21 3.31%
1927 $1,585.82 -3.61%
1928 $1,568.00 -1.12%
1929 $1,588.05 1.28%
1930 $1,510.09 -4.91%
1931 $1,245.05 -17.55%
1932 $1,034.94 -16.88%
1933 $1,005.24 -2.87%
1934 $1,120.32 11.45%
1935 $1,201.98 7.29%
1936 $1,213.12 0.93%
1937 $1,262.86 4.10%
1938 $1,171.55 -7.23%
1939 $1,141.11 -2.60%
1940 $1,156.70 1.37%
1941 $1,262.12 9.11%
1942 $1,484.85 17.65%
1943 $1,650.41 11.15%
1944 $1,628.88 -1.30%
1945 $1,666.00 2.28%
1946 $1,912.48 14.80%
1947 $2,322.30 21.43%
1948 $2,517.56 8.41%
1949 $2,418.82 -3.92%
1950 $2,450.74 1.32%
1951 $2,723.95 11.15%
1952 $2,772.21 1.77%
1953 $2,728.41 -1.58%
1954 $2,725.44 -0.11%
1955 $2,684.61 -1.50%
1956 $2,704.65 0.75%
1957 $2,791.52 3.21%
1958 $2,911.79 4.31%
1959 $2,862.79 -1.68%
1960 $2,896.94 1.19%
1961 $2,930.35 1.15%
1962 $2,956.33 0.89%
1963 $2,998.65 1.43%
1964 $3,038.00 1.31%
1965 $3,105.56 2.22%
1966 $3,262.95 5.07%
1967 $3,287.45 0.75%
1968 $3,406.24 3.61%
1969 $3,581.45 5.14%
1970 $3,783.39 5.64%
1971 $3,894.76 2.94%
1972 $4,062.55 4.31%
1973 $4,649.80 14.46%
1974 $5,319.47 14.40%
1975 $5,770.86 8.49%
1976 $5,948.30 3.07%
1977 $6,323.23 6.30%
1978 $6,954.29 9.98%
1979 $7,713.05 10.91%
1980 $8,375.29 8.59%
1981 $9,030.11 7.82%
1982 $9,396.12 4.05%
1983 $9,594.35 2.11%
1984 $9,963.33 3.85%
1985 $10,189.03 2.27%
1986 $10,514.95 3.20%
1987 $10,952.98 4.17%
1988 $11,405.86 4.13%
1989 $12,071.82 5.84%
1990 $12,775.64 5.83%
1991 $13,150.56 2.93%
1992 $13,308.70 1.20%
1993 $13,595.27 2.15%
1994 $13,924.91 2.42%
1995 $14,324.33 2.87%
1996 $14,794.29 3.28%
1997 $15,179.61 2.60%
1998 $15,508.50 2.17%
1999 $15,838.14 2.13%
2000 $16,196.73 2.26%
2001 $16,705.29 3.14%
2002 $17,007.45 1.81%
2003 $17,370.50 2.13%
2004 $17,968.89 3.44%
2005 $18,407.67 2.44%
2006 $18,837.53 2.34%
2007 $19,584.46 3.97%
2008 $20,664.51 5.51%
2009 $21,035.97 1.80%
2010 $21,197.15 0.77%
2011 $21,990.16 3.74%
2012 $22,563.05 2.61%
2013 $22,877.65 1.39%
2014 $23,426.60 2.40%
2015 $23,861.91 1.86%
2016 $23,929.12 0.28%
2017 $24,135.05 0.86%
2018 $24,457.71 1.34%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for food, 1914-2018

Start with the inflation rate formula:

CPI in 2018 / CPI in 1914 * 1914 USD value = 2018 USD value

Then plug in historical CPI values from above. The CPI for Food was 10.154 in the year 1914 and 253.408 in 2018:

253.408 / 10.154 * $980 = $24,457.71

Therefore, according to U.S. Bureau of Labor Statistics, $980 in 1914 has the same "purchasing power" as $24,457.71 in 2018 (in the CPI category of Food).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Food in 1913. In addition to food, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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