According to the U.S. Bureau of Labor Statistics, prices for baby food and formula are 4.53% higher in 2024 versus 2023 (a $0.91 difference in value).
Between 2023 and 2024: Baby Food and Formula experienced an average inflation rate of 4.53% per year. This rate of change indicates significant inflation. In other words, baby food and formula costing $20 in the year 2023 would cost $20.91 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.89% during this same period, inflation for baby food and formula was higher.
In the year 2023: Pricing changed by 8.35%, which is significantly above the average yearly change for baby food and formula during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for baby food and formula was much higher.
Below are calculations of equivalent buying power for Baby Food and Formula, 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 | 8.35% |
| 2024 | $20.91 | 4.53%* |
* 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 | 224.398 |