According to the U.S. Bureau of Labor Statistics, prices for bananas are 197.89% higher in 2023 versus 1978 (a $6.93 difference in value).
The current national average price is $0.64 for "Bananas, per lb. (453.6 gm)". This data is collected by a national survey and can vary from region to region.
Between 1978 and 2023: Bananas experienced an average inflation rate of 2.46% per year. This rate of change indicates significant inflation. In other words, bananas costing $3.50 in the year 1978 would cost $10.43 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.45% during this same period, inflation for bananas was lower.
In the year 1978: Pricing changed by 11.81%, which is significantly above the average yearly change for bananas during the 1978-2023 time period. Compared to inflation for all items in 1978 (7.63%), inflation for bananas was much higher.
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):
| Year | Average price (Bananas) | Inflation adjusted price (2023 dollars) |
|---|---|---|
| 2023 | $0.64 (latest available value) | $0.64 |
| 2022 | $0.64 | $0.65 |
| 2021 | $0.60 | $0.65 |
| 2020 | $0.58 | $0.63 |
| 2019 | $0.57 | $0.62 |
| 2018 | $0.57 | $0.61 |
| 2017 | $0.56 | $0.61 |
| 2016 | $0.57 | $0.61 |
| 2015 | $0.58 | $0.61 |
| 2014 | $0.60 | $0.62 |
| 2013 | $0.60 | $0.62 |
| 2012 | $0.60 | $0.62 |
| 2011 | $0.61 | $0.62 |
| 2010 | $0.58 | $0.62 |
| 2009 | $0.61 | $0.62 |
| 2008 | $0.61 | $0.62 |
| 2007 | $0.51 | $0.61 |
| 2006 | $0.50 | $0.60 |
| 2005 | $0.49 | $0.62 |
| 2004 | $0.50 | $0.64 |
| 2003 | $0.51 | $0.65 |
| 2002 | $0.51 | $0.64 |
| 2001 | $0.51 | $0.64 |
| 2000 | $0.50 | $0.65 |
| 1999 | $0.49 | $0.65 |
| 1998 | $0.49 | $0.65 |
| 1997 | $0.49 | $0.64 |
| 1996 | $0.49 | $0.65 |
| 1995 | $0.49 | $0.67 |
| 1994 | $0.46 | $0.68 |
| 1993 | $0.44 | $0.68 |
| 1992 | $0.46 | $0.69 |
| 1991 | $0.48 | $0.70 |
| 1990 | $0.46 | $0.71 |
| 1989 | $0.45 | $0.72 |
| 1988 | $0.42 | $0.74 |
| 1987 | $0.36 | $0.74 |
| 1986 | $0.38 | $0.77 |
| 1985 | $0.37 | $0.77 |
| 1984 | $0.36 | $0.77 |
| 1983 | $0.39 | $0.77 |
| 1982 | $0.35 | $0.78 |
| 1981 | $0.36 | $0.78 |
| 1980 | $0.34 | $0.79 |
Below are calculations of equivalent buying power for Bananas, over time, for $3.50 beginning in 1978. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1978 | $3.50 | 11.81% |
| 1979 | $3.95 | 12.93% |
| 1980 | $4.53 | 14.64% |
| 1981 | $4.83 | 6.69% |
| 1982 | $4.76 | -1.61% |
| 1983 | $5.25 | 10.31% |
| 1984 | $4.85 | -7.61% |
| 1985 | $4.95 | 2.07% |
| 1986 | $5.20 | 5.07% |
| 1987 | $5.16 | -0.80% |
| 1988 | $5.90 | 14.46% |
| 1989 | $6.50 | 10.11% |
| 1990 | $6.84 | 5.24% |
| 1991 | $7.18 | 4.95% |
| 1992 | $6.93 | -3.51% |
| 1993 | $6.71 | -3.15% |
| 1994 | $7.11 | 5.94% |
| 1995 | $7.61 | 7.10% |
| 1996 | $7.87 | 3.41% |
| 1997 | $7.90 | 0.35% |
| 1998 | $7.96 | 0.80% |
| 1999 | $7.89 | -0.89% |
| 2000 | $8.04 | 1.93% |
| 2001 | $8.25 | 2.54% |
| 2002 | $8.24 | -0.06% |
| 2003 | $8.16 | -1.01% |
| 2004 | $8.07 | -1.12% |
| 2005 | $8.27 | 2.50% |
| 2006 | $8.68 | 4.93% |
| 2007 | $8.79 | 1.28% |
| 2008 | $10.27 | 16.82% |
| 2009 | $10.26 | -0.07% |
| 2010 | $9.68 | -5.70% |
| 2011 | $10.19 | 5.33% |
| 2012 | $10.15 | -0.39% |
| 2013 | $10.07 | -0.82% |
| 2014 | $10.00 | -0.65% |
| 2015 | $9.94 | -0.62% |
| 2016 | $9.84 | -0.96% |
| 2017 | $9.66 | -1.85% |
| 2018 | $9.74 | 0.79% |
| 2019 | $9.70 | -0.37% |
| 2020 | $9.57 | -1.37% |
| 2021 | $9.69 | 1.22% |
| 2022 | $10.21 | 5.41% |
| 2023 | $10.43 | 2.12%* |
* 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:
| 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 | 14.523 | 15.015 | 16.854 | 24.500 | 28.831 | 28.285 | 26.331 | 27.908 | 36.323 | 38.323 | 39.954 | 39.100 | 39.292 | 39.346 | 39.723 | 39.800 | 40.123 | 39.892 | 41.146 | 41.046 | 40.369 | 37.685 | 37.700 | 38.823 | 39.100 | 39.715 | 38.915 | 38.054 | 38.408 | 38.000 | 38.931 | 38.985 | 36.715 | 39.077 | 40.808 | 45.831 | 57.408 | 58.169 | 63.231 | 70.700 | 79.838 | 91.531 | 97.654 | 96.085 | 105.992 | 97.923 | 99.946 | 105.015 | 104.177 | 119.238 | 131.292 | 138.169 | 145.015 | 139.931 | 135.523 | 143.569 | 153.769 | 159.015 | 159.577 | 160.854 | 159.415 | 162.492 | 166.615 | 166.523 | 164.838 | 162.992 | 167.062 | 175.292 | 177.538 | 207.394 | 207.256 | 195.442 | 205.850 | 205.052 | 203.370 | 202.041 | 200.786 | 198.852 | 195.168 | 196.709 | 195.983 | 193.307 | 195.656 | 206.248 | 210.611 |