According to the U.S. Bureau of Labor Statistics, prices for food were 1,942.53% higher in 2016 versus 1938 (a $19,425,259,822.56 difference in value).
Between 1938 and 2016: Food experienced an average inflation rate of 3.94% per year. This rate of change indicates significant inflation. In other words, food costing $1,000,000,000 in the year 1938 would cost $20,425,259,822.56 in 2016 for an equivalent purchase. Compared to the overall inflation rate of 3.70% during this same period, inflation for food was higher.
In the year 1938: Pricing changed by -7.23%, which is significantly below the average yearly change for food during the 1938-2016 time period. Compared to inflation for all items in 1938 (-2.03%), inflation for food was much lower.
Below are calculations of equivalent buying power for Food, over time, for $1,000,000,000 beginning in 1938. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1938 | $1,000,000,000.00 | -7.23% |
1939 | $974,017,743.98 | -2.60% |
1940 | $987,325,728.77 | 1.37% |
1941 | $1,077,313,054.50 | 9.11% |
1942 | $1,267,427,122.94 | 17.65% |
1943 | $1,408,745,247.15 | 11.15% |
1944 | $1,390,367,553.87 | -1.30% |
1945 | $1,422,053,231.94 | 2.28% |
1946 | $1,632,446,134.35 | 14.80% |
1947 | $1,982,256,020.28 | 21.43% |
1948 | $2,148,922,686.95 | 8.41% |
1949 | $2,064,638,783.27 | -3.92% |
1950 | $2,091,888,466.41 | 1.32% |
1951 | $2,325,095,057.03 | 11.15% |
1952 | $2,366,286,438.53 | 1.77% |
1953 | $2,328,897,338.40 | -1.58% |
1954 | $2,326,362,484.16 | -0.11% |
1955 | $2,291,508,238.28 | -1.50% |
1956 | $2,308,618,504.44 | 0.75% |
1957 | $2,382,762,991.13 | 3.21% |
1958 | $2,485,424,588.09 | 4.31% |
1959 | $2,443,599,493.03 | -1.68% |
1960 | $2,472,750,316.86 | 1.19% |
1961 | $2,501,267,427.12 | 1.15% |
1962 | $2,523,447,401.77 | 0.89% |
1963 | $2,559,569,074.78 | 1.43% |
1964 | $2,593,155,893.54 | 1.31% |
1965 | $2,650,823,827.63 | 2.22% |
1966 | $2,785,171,102.66 | 5.07% |
1967 | $2,806,083,650.19 | 0.75% |
1968 | $2,907,477,820.03 | 3.61% |
1969 | $3,057,034,220.53 | 5.14% |
1970 | $3,229,404,309.25 | 5.64% |
1971 | $3,324,461,343.47 | 2.94% |
1972 | $3,467,680,608.37 | 4.31% |
1973 | $3,968,948,035.49 | 14.46% |
1974 | $4,540,557,667.93 | 14.40% |
1975 | $4,925,855,513.31 | 8.49% |
1976 | $5,077,313,054.50 | 3.07% |
1977 | $5,397,338,403.04 | 6.30% |
1978 | $5,935,994,930.29 | 9.98% |
1979 | $6,583,650,190.11 | 10.91% |
1980 | $7,148,922,686.95 | 8.59% |
1981 | $7,707,858,048.16 | 7.82% |
1982 | $8,020,278,833.97 | 4.05% |
1983 | $8,189,480,354.88 | 2.11% |
1984 | $8,504,435,994.93 | 3.85% |
1985 | $8,697,084,917.62 | 2.27% |
1986 | $8,975,285,171.10 | 3.20% |
1987 | $9,349,176,172.37 | 4.17% |
1988 | $9,735,741,444.87 | 4.13% |
1989 | $10,304,182,509.51 | 5.84% |
1990 | $10,904,942,965.78 | 5.83% |
1991 | $11,224,968,314.32 | 2.93% |
1992 | $11,359,949,302.92 | 1.20% |
1993 | $11,604,562,737.64 | 2.15% |
1994 | $11,885,931,558.94 | 2.42% |
1995 | $12,226,869,455.01 | 2.87% |
1996 | $12,628,010,139.42 | 3.28% |
1997 | $12,956,907,477.82 | 2.60% |
1998 | $13,237,642,585.55 | 2.17% |
1999 | $13,519,011,406.84 | 2.13% |
2000 | $13,825,095,057.03 | 2.26% |
2001 | $14,259,188,846.64 | 3.14% |
2002 | $14,517,110,266.16 | 1.81% |
2003 | $14,826,996,197.72 | 2.13% |
2004 | $15,337,769,328.26 | 3.44% |
2005 | $15,712,294,043.09 | 2.44% |
2006 | $16,079,214,195.18 | 2.34% |
2007 | $16,716,774,397.97 | 3.97% |
2008 | $17,638,675,538.66 | 5.51% |
2009 | $17,955,741,444.87 | 1.80% |
2010 | $18,093,320,659.06 | 0.77% |
2011 | $18,770,215,462.61 | 3.74% |
2012 | $19,259,220,532.32 | 2.61% |
2013 | $19,527,756,653.99 | 1.39% |
2014 | $19,996,318,124.21 | 2.40% |
2015 | $20,367,889,733.84 | 1.86% |
2016 | $20,425,259,822.56 | 0.28% |
2017 | $20,601,039,290.24 | 0.86% |
2018 | $20,888,821,292.78 | 1.40% |
2019 | $21,280,798,479.09 | 1.88% |
2020 | $22,014,264,892.27 | 3.45% |
2021 | $22,882,275,031.69 | 3.94% |
2022 | $25,158,681,875.79 | 9.95% |
2023 | $26,606,736,375.16 | 5.76% |
2024 | $26,996,858,893.11 | 1.47%* |
* 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:
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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
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 | 253.558 | 258.316 | 267.219 | 277.756 | 305.388 | 322.965 | 327.700 |