According to the U.S. Bureau of Labor Statistics, prices for food were 546.83% higher in 2018 versus 1970 (a $19,685,952.90 difference in value).
Between 1970 and 2018: Food experienced an average inflation rate of 3.97% per year. This rate of change indicates significant inflation. In other words, food costing $3,600,000 in the year 1970 would cost $23,285,952.90 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.97% during this same period, inflation for food was higher.
In the year 1970: Pricing changed by 5.64%, which is above the average yearly change for food during the 1970-2018 time period. Compared to inflation for all items in 1970 (5.83%), inflation for food was lower.
Below are calculations of equivalent buying power for Food, over time, for $3,600,000 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1970 | $3,600,000.00 | 5.64% |
1971 | $3,705,965.46 | 2.94% |
1972 | $3,865,620.09 | 4.31% |
1973 | $4,424,411.30 | 14.46% |
1974 | $5,061,616.95 | 14.40% |
1975 | $5,491,130.30 | 8.49% |
1976 | $5,659,968.60 | 3.07% |
1977 | $6,016,719.00 | 6.30% |
1978 | $6,617,189.95 | 9.98% |
1979 | $7,339,167.97 | 10.91% |
1980 | $7,969,309.26 | 8.59% |
1981 | $8,592,386.19 | 7.82% |
1982 | $8,940,659.34 | 4.05% |
1983 | $9,129,277.86 | 2.11% |
1984 | $9,480,376.77 | 3.85% |
1985 | $9,695,133.44 | 2.27% |
1986 | $10,005,259.03 | 3.20% |
1987 | $10,422,056.51 | 4.17% |
1988 | $10,852,982.73 | 4.13% |
1989 | $11,486,656.20 | 5.84% |
1990 | $12,156,357.93 | 5.83% |
1991 | $12,513,108.32 | 2.93% |
1992 | $12,663,579.28 | 1.20% |
1993 | $12,936,263.74 | 2.15% |
1994 | $13,249,921.51 | 2.42% |
1995 | $13,629,984.30 | 2.87% |
1996 | $14,077,158.56 | 3.28% |
1997 | $14,443,799.06 | 2.60% |
1998 | $14,756,750.39 | 2.17% |
1999 | $15,070,408.16 | 2.13% |
2000 | $15,411,616.95 | 2.26% |
2001 | $15,895,525.90 | 3.14% |
2002 | $16,183,045.53 | 1.81% |
2003 | $16,528,492.94 | 2.13% |
2004 | $17,097,880.69 | 3.44% |
2005 | $17,515,384.62 | 2.44% |
2006 | $17,924,411.30 | 2.34% |
2007 | $18,635,135.79 | 3.97% |
2008 | $19,662,831.24 | 5.51% |
2009 | $20,016,282.57 | 1.80% |
2010 | $20,169,649.92 | 0.77% |
2011 | $20,924,222.92 | 3.74% |
2012 | $21,469,344.58 | 2.61% |
2013 | $21,768,697.02 | 1.39% |
2014 | $22,291,029.04 | 2.40% |
2015 | $22,705,240.97 | 1.86% |
2016 | $22,769,194.66 | 0.28% |
2017 | $22,965,146.00 | 0.86% |
2018 | $23,285,952.90 | 1.40% |
2019 | $23,722,912.09 | 1.88% |
2020 | $24,540,548.67 | 3.45% |
2021 | $25,508,168.76 | 3.94% |
2022 | $28,045,808.48 | 9.95% |
2023 | $29,660,036.89 | 5.76% |
2024 | $30,094,928.57 | 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 |