Bakery products priced at $20 in 2016 $26.68 in 2024

Bakery Products Inflation Calculator

$

Prices for Bakery Products, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for bakery products are 33.42% higher in 2024 versus 2016 (a $6.68 difference in value).

Between 2016 and 2024: Bakery products experienced an average inflation rate of 3.67% per year. This rate of change indicates significant inflation. In other words, bakery products costing $20 in the year 2016 would cost $26.68 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.27% during this same period, inflation for bakery products was higher.

In the year 2016: Pricing changed by 0.09%, which is significantly below the average yearly change for bakery products during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for bakery products was lower.

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%).

View price changes for other categories
Juices and nonalcoholic drinks · New cars · Financial services · Legal services · More

Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Bakery products, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2016$20.000.09%
2017$20.00-0.01%
2018$20.160.83%
2019$20.541.84%
2020$21.022.38%
2021$21.552.52%
2022$24.2912.70%
2023$26.478.99%
2024$26.680.80%*

* 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
CPI64.70067.99275.23183.79291.83896.14699.654104.185108.169111.062115.062121.769131.515139.215144.723150.408155.677161.869167.354176.069181.138185.415189.431194.108201.315206.123211.654216.238220.523226.362236.633261.026268.906267.956277.950286.583291.489292.532296.603296.866296.830299.298304.810312.064319.920360.548392.958396.091

Adjust bakery products prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Bakery products was 296.866 in the year 2016 and 396.091 in 2024:

396.091 / 296.866 * $20 = $26.68

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $26.68 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.

» Read more about inflation and investment.