Bacon priced at $7.22 in 1954 $75.49 in 2023

Bacon Inflation Calculator

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Prices for Bacon, 1954-2023 ($7.22)

According to the U.S. Bureau of Labor Statistics, prices for bacon and related products are 945.52% higher in 2023 versus 1954 (a $68.27 difference in value).

The current national average price is $7.22 for "Bacon, sliced, per lb. (453.6 gm)". This data is collected by a national survey and can vary from region to region.

Between 1954 and 2023: Bacon experienced an average inflation rate of 3.46% per year. This rate of change indicates significant inflation. In other words, bacon costing $7.22 in the year 1954 would cost $75.49 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.58% during this same period, inflation for bacon was lower.

In the year 1954: Pricing changed by 3.70%, which is above the average yearly change for bacon during the 1954-2023 time period. Compared to inflation for all items in 1954 (0.34%), inflation for bacon was much higher.

Price Inflation for Bacon and related products since 1939

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1947 (45.64%), 1973 (37.81%), and 1975 (34.38%).

Price history

The average price for Bacon is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.

Average prices for Bacon, sliced, per lb. (453.6 gm):

YearAverage price (Bacon)Inflation adjusted price (2023 dollars)
2023$7.22 (latest available value)$7.22
2022$7.31$6.88
2021$6.64$6.81
2020$5.58$6.48
2019$5.61$6.69
2018$5.47$6.64
2017$5.77$6.89
2016$5.42$6.92
2015$5.45$7.00
2014$5.78$6.95
2013$5.29$6.72
2012$4.56$6.14
2011$4.63$6.34
2010$4.11$6.38
2009$3.61$6.03
2008$3.66$6.02
2007$3.66$5.97
2006$3.44$5.83
2005$3.39$5.83
2004$3.38$5.74
2003$3.20$5.87
2002$3.24$6.27
2001$3.25$6.36
2000$3.03$6.16
1999$2.55$6.07
1998$2.54$6.03
1997$2.68$5.90
1996$2.47$5.99
1995$1.99$5.97
1994$1.99$6.08
1993$1.93$6.29
1992$1.92$6.60
1991$2.22$6.68
1990$2.12$6.76
1989$1.77$6.65
1988$1.88$6.73
1987$2.14$6.74
1986$2.08$6.92
1985$1.94$6.90
1984$1.86$6.84
1983$1.94$7.01
1982$2.05$7.25
1981$1.67$7.21
1980$1.46$7.18

View price changes for other categories
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Buying power of $7.22 since 1954

Below are calculations of equivalent buying power for Bacon, over time, for $7.22 beginning in 1954. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1954$7.223.70%
1955$5.83-19.24%
1956$5.14-11.87%
1957$6.6028.48%
1958$7.077.07%
1959$5.92-16.26%
1960$5.83-1.52%
1961$6.358.92%
1962$6.27-1.19%
1963$6.09-2.98%
1964$6.120.48%
1965$7.4521.87%
1966$8.7717.67%
1967$7.70-12.21%
1968$7.49-2.70%
1969$8.128.32%
1970$8.788.17%
1971$7.44-15.29%
1972$9.0021.00%
1973$12.4037.81%
1974$12.35-0.36%
1975$16.6034.38%
1976$16.20-2.43%
1977$14.85-8.33%
1978$17.0915.14%
1979$15.87-7.17%
1980$15.39-3.02%
1981$17.4413.31%
1982$21.3822.58%
1983$20.92-2.12%
1984$20.48-2.09%
1985$21.213.53%
1986$22.717.10%
1987$23.985.57%
1988$21.11-11.96%
1989$20.05-5.01%
1990$23.7318.34%
1991$25.085.67%
1992$21.89-12.70%
1993$23.195.93%
1994$24.726.61%
1995$25.101.54%
1996$31.1624.13%
1997$34.3310.16%
1998$31.81-7.33%
1999$31.70-0.34%
2000$37.1517.20%
2001$38.633.97%
2002$38.980.89%
2003$41.145.54%
2004$44.377.86%
2005$43.91-1.04%
2006$44.571.51%
2007$46.253.76%
2008$45.90-0.74%
2009$45.17-1.59%
2010$48.607.57%
2011$55.1213.44%
2012$56.021.63%
2013$59.406.04%
2014$62.725.58%
2015$58.80-6.25%
2016$59.160.61%
2017$63.206.83%
2018$62.11-1.73%
2019$63.331.97%
2020$64.992.61%
2021$73.5313.15%
2022$80.169.01%
2023$75.49-5.83%*

* 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 Bacon and related products:

Year1939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI13.60011.89214.98517.22317.98517.10017.23122.48532.74632.42328.03826.84628.30027.31533.26934.50027.86224.55431.54633.77728.28527.85430.33829.97729.08529.22335.61541.90836.79235.80038.77741.94635.53142.99259.24659.03179.32377.39270.94681.68575.83173.53883.323102.13899.97797.885101.338108.531114.577100.87795.823113.392119.823104.600110.808118.131119.954148.900164.031152.000151.477177.538184.592186.238196.562212.008209.800212.977220.978219.349215.861232.207263.405267.691283.854299.687280.969282.682301.979296.766302.619310.531351.377383.043360.704

Adjust bacon prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1954 * 1954 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Bacon and related products was 34.500 in the year 1954 and 360.704 in 2023:

360.704 / 34.500 * $7.22 = $75.49

Therefore, according to U.S. Bureau of Labor Statistics, $7.22 in 1954 has the same "purchasing power" as $75.49 in 2023 (in the CPI category of Bacon and related products).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Bacon and related products in 1939. In addition to bacon, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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