Alcohol away from home priced at $20 in 1998 $43.61 in 2024

Alcohol Away From Home Inflation Calculator

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Prices for Alcohol Away From Home, 1998-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for alcoholic beverages away from home are 118.03% higher in 2024 versus 1998 (a $23.61 difference in value).

Between 1998 and 2024: Alcohol away from home experienced an average inflation rate of 3.04% per year. This rate of change indicates significant inflation. In other words, alcohol away from home costing $20 in the year 1998 would cost $43.61 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.52% during this same period, inflation for alcohol away from home was higher.

In the year 1998: Pricing changed by 2.97%, which is below the average yearly change for alcohol away from home during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for alcohol away from home was higher.

Price Inflation for Alcoholic beverages away from home since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1981 (8.75%), 1991 (8.65%), and 1979 (8.38%).

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Buying power of $20.00 since 1998

Below are calculations of equivalent buying power for Alcohol away from home, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$20.002.97%
1999$20.613.03%
2000$21.243.05%
2001$22.063.90%
2002$22.823.41%
2003$23.442.75%
2004$24.263.48%
2005$25.073.35%
2006$26.114.14%
2007$27.274.45%
2008$28.454.30%
2009$29.282.94%
2010$29.932.22%
2011$30.853.08%
2012$31.843.21%
2013$32.602.37%
2014$33.211.86%
2015$33.892.07%
2016$34.511.84%
2017$35.222.04%
2018$35.992.18%
2019$36.421.21%
2020$37.232.23%
2021$38.292.83%
2022$40.475.70%
2023$42.906.01%
2024$43.611.64%*

* 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 Alcoholic beverages away from home:

Year197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI67.70071.25477.22382.86290.11595.14699.762105.108111.138118.462123.377130.585137.400144.431156.923162.462167.415171.569176.492182.700189.408195.038200.954207.085215.169222.508228.631236.585244.515254.638265.969277.394285.550291.892300.886310.539317.910323.813330.513336.583343.459350.931355.164363.080373.354394.646418.358425.239

Adjust alcohol away from home prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1998 * 1998 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Alcoholic beverages away from home was 195.038 in the year 1998 and 425.239 in 2024:

425.239 / 195.038 * $20 = $43.61

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1998 has the same "purchasing power" as $43.61 in 2024 (in the CPI category of Alcoholic beverages away from home).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Alcoholic beverages away from home in 1977. In addition to alcohol away from home, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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