Alcohol away from home price inflation, 2023→2024

Alcohol Away From Home Inflation Calculator

Prices for Alcohol Away From Home, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for alcoholic beverages away from home are 2.25% higher in 2024 versus 2023 (a $0.45 difference in value).

Between 2023 and 2024: Alcohol away from home experienced an average inflation rate of 2.25% per year. This rate of change indicates significant inflation. In other words, alcohol away from home costing $20 in the year 2023 would cost $20.45 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for alcohol away from home was lower.

In the year 2023: Pricing changed by 6.01%, which is significantly above the average yearly change for alcohol away from home during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), 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 2023

Below are calculations of equivalent buying power for Alcohol away from home, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	6.01%
2024	$20.45	2.25%*

* 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:

Year	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	67.700	71.254	77.223	82.862	90.115	95.146	99.762	105.108	111.138	118.462	123.377	130.585	137.400	144.431	156.923	162.462	167.415	171.569	176.492	182.700	189.408	195.038	200.954	207.085	215.169	222.508	228.631	236.585	244.515	254.638	265.969	277.394	285.550	291.892	300.886	310.539	317.910	323.813	330.513	336.583	343.459	350.931	355.164	363.080	373.354	394.646	418.358	427.774

Adjust alcohol away from home prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Alcoholic beverages away from home was 418.358 in the year 2023 and 427.774 in 2024:

427.774 / 418.358 * $20 = $20.45

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.45 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.