Baby Food and Formula priced at $20 in 2023 $20.87 in 2024

Baby Food And Formula Inflation Calculator


Prices for Baby Food And Formula, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for baby food and formula are 4.33% higher in 2024 versus 2023 (a $0.87 difference in value).

Between 2023 and 2024: Baby Food and Formula experienced an average inflation rate of 4.33% per year. This rate of change indicates significant inflation. In other words, baby food and formula costing $20 in the year 2023 would cost $20.87 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.44% 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.

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%).

View price changes for other categories
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Buying power of $20.00 since 2023

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:

YearUSD ValueInflation Rate

* 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:


Adjust baby food and formula 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 Baby Food and Formula was 214.682 in the year 2023 and 223.983 in 2024:

223.983 / 214.682 * $20 = $20.87

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.87 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.

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