According to the U.S. Bureau of Labor Statistics, prices for bacon and related products are 739% higher in 2023 versus 1972 (a $53.36 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 1972 and 2023: Bacon experienced an average inflation rate of 4.26% per year. This rate of change indicates significant inflation. In other words, bacon costing $7.22 in the year 1972 would cost $60.58 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.97% during this same period, inflation for bacon was higher.
In the year 1972: Pricing changed by 21%, which is significantly above the average yearly change for bacon during the 1972-2023 time period. Compared to inflation for all items in 1972 (3.27%), inflation for bacon was much higher.
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):
| Year | Average 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 |
Below are calculations of equivalent buying power for Bacon, over time, for $7.22 beginning in 1972. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1972 | $7.22 | 21.00% |
| 1973 | $9.95 | 37.81% |
| 1974 | $9.91 | -0.36% |
| 1975 | $13.32 | 34.38% |
| 1976 | $13.00 | -2.43% |
| 1977 | $11.91 | -8.33% |
| 1978 | $13.72 | 15.14% |
| 1979 | $12.73 | -7.17% |
| 1980 | $12.35 | -3.02% |
| 1981 | $13.99 | 13.31% |
| 1982 | $17.15 | 22.58% |
| 1983 | $16.79 | -2.12% |
| 1984 | $16.44 | -2.09% |
| 1985 | $17.02 | 3.53% |
| 1986 | $18.23 | 7.10% |
| 1987 | $19.24 | 5.57% |
| 1988 | $16.94 | -11.96% |
| 1989 | $16.09 | -5.01% |
| 1990 | $19.04 | 18.34% |
| 1991 | $20.12 | 5.67% |
| 1992 | $17.57 | -12.70% |
| 1993 | $18.61 | 5.93% |
| 1994 | $19.84 | 6.61% |
| 1995 | $20.14 | 1.54% |
| 1996 | $25.01 | 24.13% |
| 1997 | $27.55 | 10.16% |
| 1998 | $25.53 | -7.33% |
| 1999 | $25.44 | -0.34% |
| 2000 | $29.82 | 17.20% |
| 2001 | $31.00 | 3.97% |
| 2002 | $31.28 | 0.89% |
| 2003 | $33.01 | 5.54% |
| 2004 | $35.60 | 7.86% |
| 2005 | $35.23 | -1.04% |
| 2006 | $35.77 | 1.51% |
| 2007 | $37.11 | 3.76% |
| 2008 | $36.84 | -0.74% |
| 2009 | $36.25 | -1.59% |
| 2010 | $39.00 | 7.57% |
| 2011 | $44.24 | 13.44% |
| 2012 | $44.96 | 1.63% |
| 2013 | $47.67 | 6.04% |
| 2014 | $50.33 | 5.58% |
| 2015 | $47.19 | -6.25% |
| 2016 | $47.47 | 0.61% |
| 2017 | $50.71 | 6.83% |
| 2018 | $49.84 | -1.73% |
| 2019 | $50.82 | 1.97% |
| 2020 | $52.15 | 2.61% |
| 2021 | $59.01 | 13.15% |
| 2022 | $64.33 | 9.01% |
| 2023 | $60.58 | -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:
| Year | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 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 |
| CPI | 13.600 | 11.892 | 14.985 | 17.223 | 17.985 | 17.100 | 17.231 | 22.485 | 32.746 | 32.423 | 28.038 | 26.846 | 28.300 | 27.315 | 33.269 | 34.500 | 27.862 | 24.554 | 31.546 | 33.777 | 28.285 | 27.854 | 30.338 | 29.977 | 29.085 | 29.223 | 35.615 | 41.908 | 36.792 | 35.800 | 38.777 | 41.946 | 35.531 | 42.992 | 59.246 | 59.031 | 79.323 | 77.392 | 70.946 | 81.685 | 75.831 | 73.538 | 83.323 | 102.138 | 99.977 | 97.885 | 101.338 | 108.531 | 114.577 | 100.877 | 95.823 | 113.392 | 119.823 | 104.600 | 110.808 | 118.131 | 119.954 | 148.900 | 164.031 | 152.000 | 151.477 | 177.538 | 184.592 | 186.238 | 196.562 | 212.008 | 209.800 | 212.977 | 220.978 | 219.349 | 215.861 | 232.207 | 263.405 | 267.691 | 283.854 | 299.687 | 280.969 | 282.682 | 301.979 | 296.766 | 302.619 | 310.531 | 351.377 | 383.043 | 360.704 |