Bakery products priced at $20 in 1998 $42.73 in 2024

Bakery Products Inflation Calculator

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Prices for Bakery Products, 1998-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for bakery products are 113.66% higher in 2024 versus 1998 (a $22.73 difference in value).

Between 1998 and 2024: Bakery products experienced an average inflation rate of 2.96% per year. This rate of change indicates significant inflation. In other words, bakery products costing $20 in the year 1998 would cost $42.73 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for bakery products was higher.

In the year 1998: Pricing changed by 2.36%, which is below the average yearly change for bakery products during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for bakery products was higher.

Price Inflation for Bakery products since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2022 (12.70%), 1980 (11.38%), and 1979 (10.65%).

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Buying power of $20.00 since 1998

Below are calculations of equivalent buying power for Bakery products, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$20.002.36%
1999$20.432.17%
2000$20.942.47%
2001$21.723.71%
2002$22.232.39%
2003$22.832.68%
2004$23.322.17%
2005$23.791.98%
2006$24.422.65%
2007$25.524.54%
2008$28.1610.31%
2009$29.013.02%
2010$28.90-0.35%
2011$29.983.73%
2012$30.913.11%
2013$31.441.71%
2014$31.550.36%
2015$31.991.39%
2016$32.020.09%
2017$32.02-0.01%
2018$32.280.83%
2019$32.881.84%
2020$33.662.38%
2021$34.512.52%
2022$38.8912.70%
2023$42.398.99%
2024$42.730.82%*

* 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 Bakery products:

Year197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI64.70067.99275.23183.79291.83896.14699.654104.185108.169111.062115.062121.769131.515139.215144.723150.408155.677161.869167.354176.069181.138185.415189.431194.108201.315206.123211.654216.238220.523226.362236.633261.026268.906267.956277.950286.583291.489292.532296.603296.866296.830299.298304.810312.064319.920360.548392.958396.167

Adjust bakery products prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1998 * 1998 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Bakery products was 185.415 in the year 1998 and 396.167 in 2024:

396.167 / 185.415 * $20 = $42.73

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1998 has the same "purchasing power" as $42.73 in 2024 (in the CPI category of Bakery products).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Bakery products in 1977. In addition to bakery products, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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