Baby Food and Formula price inflation, 2002→2024

Baby Food And Formula Inflation Calculator

Prices for Baby Food And Formula, 2002-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for baby food and formula are 93.67% higher in 2024 versus 2002 (a $18.73 difference in value).

Between 2002 and 2024: Baby Food and Formula experienced an average inflation rate of 3.05% per year. This rate of change indicates significant inflation. In other words, baby food and formula costing $20 in the year 2002 would cost $38.73 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation for baby food and formula was higher.

In the year 2002: Pricing changed by 1.78%, which is below the average yearly change for baby food and formula during the 2002-2024 time period. Compared to inflation for all items in 2002 (1.59%), inflation for baby food and formula was higher.

Price Inflation for Baby Food and Formula since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2022 (11.56%), 2023 (8.35%), and 2008 (5.60%).

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Buying power of $20.00 since 2002

Below are calculations of equivalent buying power for Baby Food and Formula, over time, for $20 beginning in 2002. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2002	$20.00	1.78%
2003	$20.49	2.45%
2004	$21.16	3.28%
2005	$21.47	1.45%
2006	$22.10	2.94%
2007	$22.51	1.87%
2008	$23.77	5.60%
2009	$24.17	1.65%
2010	$24.16	-0.04%
2011	$24.76	2.48%
2012	$25.76	4.05%
2013	$26.10	1.31%
2014	$26.61	1.98%
2015	$26.57	-0.16%
2016	$26.90	1.26%
2017	$27.33	1.59%
2018	$27.93	2.18%
2019	$29.11	4.24%
2020	$29.88	2.62%
2021	$30.66	2.62%
2022	$34.21	11.56%
2023	$37.06	8.35%
2024	$38.73	4.51%*

* 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 Baby Food and Formula:

Year	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	100.000	102.100	105.977	110.269	113.831	115.854	118.692	122.585	124.362	128.015	130.415	137.715	139.985	139.927	143.402	149.214	151.166	154.161	153.917	155.851	158.333	161.782	168.648	173.071	177.612	198.145	214.682	224.373

Adjust baby food and formula prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2002 * 2002 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Baby Food and Formula was 115.854 in the year 2002 and 224.373 in 2024:

224.373 / 115.854 * $20 = $38.73

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2002 has the same "purchasing power" as $38.73 in 2024 (in the CPI category of Baby Food and Formula).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Baby Food and Formula in 1997. In addition to baby food and formula, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.