Bananas priced at $3.50 in 1947 → $20.03 in 2024

Bananas Inflation Calculator

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Prices for Bananas, 1947-2024 ($3.50)

According to the U.S. Bureau of Labor Statistics, prices for bananas are 472.14% higher in 2024 versus 1947 (a $16.53 difference in value).

The current national average price is $0.62 for "Bananas, per lb. (453.6 gm)". This data is collected by a national survey and can vary from region to region.

Between 1947 and 2024: Bananas experienced an average inflation rate of 2.29% per year. This rate of change indicates significant inflation. In other words, bananas costing $3.50 in the year 1947 would cost $20.03 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.49% during this same period, inflation for bananas was lower.

In the year 1947: Pricing changed by 30.15%, which is significantly above the average yearly change for bananas during the 1947-2024 time period. Compared to inflation for all items in 1947 (14.39%), inflation for bananas was much higher.

Price Inflation for Bananas since 1939

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1942 (45.37%), 1947 (30.15%), and 1975 (25.26%).

Price history

The average price for Bananas 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 Bananas, per lb. (453.6 gm):

YearAverage price (Bananas)Inflation adjusted price (2024 dollars)
2024$0.62 (latest available value)$0.62
2023$0.63$0.63
2022$0.64$0.64
2021$0.60$0.64
2020$0.58$0.62
2019$0.57$0.61
2018$0.57$0.61
2017$0.56$0.60
2016$0.57$0.60
2015$0.58$0.60
2014$0.60$0.62
2013$0.60$0.61
2012$0.60$0.61
2011$0.61$0.62
2010$0.58$0.62
2009$0.61$0.61
2008$0.61$0.61
2007$0.51$0.60
2006$0.50$0.59
2005$0.49$0.61
2004$0.50$0.63
2003$0.51$0.64
2002$0.51$0.63
2001$0.51$0.63
2000$0.50$0.64
1999$0.49$0.64
1998$0.49$0.64
1997$0.49$0.63
1996$0.49$0.64
1995$0.49$0.66
1994$0.46$0.67
1993$0.44$0.67
1992$0.46$0.68
1991$0.48$0.69
1990$0.46$0.70
1989$0.45$0.71
1988$0.42$0.73
1987$0.36$0.73
1986$0.38$0.76
1985$0.37$0.76
1984$0.36$0.76
1983$0.39$0.76
1982$0.35$0.77
1981$0.36$0.77
1980$0.34$0.78
View price changes for other categories
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Buying power of $3.50 since 1947

Below are calculations of equivalent buying power for Bananas, over time, for $3.50 beginning in 1947. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1947$3.5030.15%
1948$3.695.51%
1949$3.854.26%
1950$3.77-2.14%
1951$3.790.49%
1952$3.790.14%
1953$3.830.96%
1954$3.840.19%
1955$3.870.81%
1956$3.84-0.58%
1957$3.963.14%
1958$3.96-0.24%
1959$3.89-1.65%
1960$3.63-6.65%
1961$3.630.04%
1962$3.742.98%
1963$3.770.71%
1964$3.831.57%
1965$3.75-2.01%
1966$3.67-2.21%
1967$3.700.93%
1968$3.66-1.06%
1969$3.752.45%
1970$3.760.14%
1971$3.54-5.82%
1972$3.776.43%
1973$3.934.43%
1974$4.4212.31%
1975$5.5325.26%
1976$5.611.33%
1977$6.098.70%
1978$6.8111.81%
1979$7.6912.93%
1980$8.8214.64%
1981$9.416.69%
1982$9.26-1.61%
1983$10.2110.31%
1984$9.44-7.61%
1985$9.632.07%
1986$10.125.07%
1987$10.04-0.80%
1988$11.4914.46%
1989$12.6510.11%
1990$13.315.24%
1991$13.974.95%
1992$13.48-3.51%
1993$13.06-3.15%
1994$13.835.94%
1995$14.827.10%
1996$15.323.41%
1997$15.380.35%
1998$15.500.80%
1999$15.36-0.89%
2000$15.661.93%
2001$16.052.54%
2002$16.05-0.06%
2003$15.88-1.01%
2004$15.71-1.12%
2005$16.102.50%
2006$16.894.93%
2007$17.111.28%
2008$19.9816.82%
2009$19.97-0.07%
2010$18.83-5.70%
2011$19.845.33%
2012$19.76-0.39%
2013$19.60-0.82%
2014$19.47-0.65%
2015$19.35-0.62%
2016$19.16-0.96%
2017$18.81-1.85%
2018$18.950.79%
2019$18.88-0.37%
2020$18.63-1.37%
2021$18.851.22%
2022$19.875.41%
2023$20.161.42%
2024$20.03-0.65%*

* 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 Bananas:

Year19391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI14.52315.01516.85424.50028.83128.28526.33127.90836.32338.32339.95439.10039.29239.34639.72339.80040.12339.89241.14641.04640.36937.68537.70038.82339.10039.71538.91538.05438.40838.00038.93138.98536.71539.07740.80845.83157.40858.16963.23170.70079.83891.53197.65496.085105.99297.92399.946105.015104.177119.238131.292138.169145.015139.931135.523143.569153.769159.015159.577160.854159.415162.492166.615166.523164.838162.992167.062175.292177.538207.394207.256195.442205.850205.052203.370202.041200.786198.852195.168196.709195.983193.307195.656206.248209.174207.820

Adjust bananas prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1947 * 1947 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Bananas was 36.323 in the year 1947 and 207.820 in 2024:

207.820 / 36.323 * $3.50 = $20.03

Therefore, according to U.S. Bureau of Labor Statistics, $3.50 in 1947 has the same "purchasing power" as $20.03 in 2024 (in the CPI category of Bananas).

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

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