According to the U.S. Bureau of Labor Statistics, prices for food were 2,015.70% higher in 2018 versus 1940 (a $120,941,822.85 difference in value).
Between 1940 and 2018: Food experienced an average inflation rate of 3.99% per year. This rate of change indicates significant inflation. In other words, food costing $6,000,000 in the year 1940 would cost $126,941,822.85 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation for food was higher.
In the year 1940: Pricing changed by 1.37%, which is below the average yearly change for food during the 1940-2018 time period. Compared to inflation for all items in 1940 (0.72%), inflation for food was higher.
Below are calculations of equivalent buying power for Food, over time, for $6,000,000 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1940 | $6,000,000.00 | 1.37% |
1941 | $6,546,854.94 | 9.11% |
1942 | $7,702,182.28 | 17.65% |
1943 | $8,560,975.61 | 11.15% |
1944 | $8,449,293.97 | -1.30% |
1945 | $8,641,848.52 | 2.28% |
1946 | $9,920,410.78 | 14.80% |
1947 | $12,046,213.09 | 21.43% |
1948 | $13,059,050.06 | 8.41% |
1949 | $12,546,854.94 | -3.92% |
1950 | $12,712,451.86 | 1.32% |
1951 | $14,129,653.40 | 11.15% |
1952 | $14,379,974.33 | 1.77% |
1953 | $14,152,759.95 | -1.58% |
1954 | $14,137,355.58 | -0.11% |
1955 | $13,925,545.57 | -1.50% |
1956 | $14,029,525.03 | 0.75% |
1957 | $14,480,102.70 | 3.21% |
1958 | $15,103,979.46 | 4.31% |
1959 | $14,849,807.45 | -1.68% |
1960 | $15,026,957.64 | 1.19% |
1961 | $15,200,256.74 | 1.15% |
1962 | $15,335,044.93 | 0.89% |
1963 | $15,554,557.12 | 1.43% |
1964 | $15,758,664.96 | 1.31% |
1965 | $16,109,114.25 | 2.22% |
1966 | $16,925,545.57 | 5.07% |
1967 | $17,052,631.58 | 0.75% |
1968 | $17,668,806.16 | 3.61% |
1969 | $18,577,663.67 | 5.14% |
1970 | $19,625,160.46 | 5.64% |
1971 | $20,202,824.13 | 2.94% |
1972 | $21,073,170.73 | 4.31% |
1973 | $24,119,383.83 | 14.46% |
1974 | $27,593,068.04 | 14.40% |
1975 | $29,934,531.45 | 8.49% |
1976 | $30,854,942.23 | 3.07% |
1977 | $32,799,743.26 | 6.30% |
1978 | $36,073,170.73 | 9.98% |
1979 | $40,008,985.88 | 10.91% |
1980 | $43,444,159.18 | 8.59% |
1981 | $46,840,821.57 | 7.82% |
1982 | $48,739,409.50 | 4.05% |
1983 | $49,767,650.83 | 2.11% |
1984 | $51,681,643.13 | 3.85% |
1985 | $52,852,374.84 | 2.27% |
1986 | $54,543,003.85 | 3.20% |
1987 | $56,815,147.63 | 4.17% |
1988 | $59,164,313.22 | 4.13% |
1989 | $62,618,741.98 | 5.84% |
1990 | $66,269,576.38 | 5.83% |
1991 | $68,214,377.41 | 2.93% |
1992 | $69,034,659.82 | 1.20% |
1993 | $70,521,181.00 | 2.15% |
1994 | $72,231,065.47 | 2.42% |
1995 | $74,302,952.50 | 2.87% |
1996 | $76,740,693.20 | 3.28% |
1997 | $78,739,409.50 | 2.60% |
1998 | $80,445,442.88 | 2.17% |
1999 | $82,155,327.34 | 2.13% |
2000 | $84,015,404.36 | 2.26% |
2001 | $86,653,401.80 | 3.14% |
2002 | $88,220,795.89 | 1.81% |
2003 | $90,103,979.46 | 2.13% |
2004 | $93,207,958.92 | 3.44% |
2005 | $95,483,953.79 | 2.44% |
2006 | $97,713,735.56 | 2.34% |
2007 | $101,588,202.82 | 3.97% |
2008 | $107,190,616.17 | 5.51% |
2009 | $109,117,432.61 | 1.80% |
2010 | $109,953,504.49 | 0.77% |
2011 | $114,067,008.99 | 3.74% |
2012 | $117,038,703.47 | 2.61% |
2013 | $118,670,603.34 | 1.39% |
2014 | $121,518,061.62 | 2.40% |
2015 | $123,776,110.40 | 1.86% |
2016 | $124,124,749.68 | 0.28% |
2017 | $125,192,965.34 | 0.86% |
2018 | $126,941,822.85 | 1.40% |
2019 | $129,323,876.77 | 1.88% |
2020 | $133,781,168.16 | 3.45% |
2021 | $139,056,084.72 | 3.94% |
2022 | $152,889,858.79 | 9.95% |
2023 | $161,689,717.59 | 5.76% |
2024 | $164,060,500.64 | 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 |