Bananas priced at $3.50 in 2008 $3.53 in 2023

Bananas Inflation Calculator

$

Prices for Bananas, 2008-2023 ($3.50)

According to the U.S. Bureau of Labor Statistics, prices for bananas are 1% higher in 2023 versus 2008 (a $0.03 difference in value).

The current national average price is $0.63 for "Bananas, per lb. (453.6 gm)". This data is collected by a national survey and can vary from region to region.

Between 2008 and 2023: Bananas experienced an average inflation rate of 0.07% per year. In other words, bananas costing $3.50 in the year 2008 would cost $3.53 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.33% during this same period, inflation for bananas was lower.

In the year 2008: Pricing changed by 16.82%, which is significantly above the average yearly change for bananas during the 2008-2023 time period. Compared to inflation for all items in 2008 (3.84%), 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 (2023 dollars)
2023$0.63 (latest available value)$0.63
2022$0.64$0.65
2021$0.60$0.64
2020$0.58$0.63
2019$0.57$0.61
2018$0.57$0.61
2017$0.56$0.60
2016$0.57$0.60
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$0.60
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$0.64
1998$0.49$0.64
1997$0.49$0.64
1996$0.49$0.64
1995$0.49$0.67
1994$0.46$0.67
1993$0.44$0.68
1992$0.46$0.69
1991$0.48$0.69
1990$0.46$0.70
1989$0.45$0.72
1988$0.42$0.73
1987$0.36$0.73
1986$0.38$0.77
1985$0.37$0.77
1984$0.36$0.77
1983$0.39$0.76
1982$0.35$0.77
1981$0.36$0.78
1980$0.34$0.78

View price changes for other categories
Hospital services · Chicago, Illinois · Philadelphia, Pennsylvania · Televisions · More

Buying power of $3.50 since 2008

Below are calculations of equivalent buying power for Bananas, over time, for $3.50 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2008$3.5016.82%
2009$3.50-0.07%
2010$3.30-5.70%
2011$3.475.33%
2012$3.46-0.39%
2013$3.43-0.82%
2014$3.41-0.65%
2015$3.39-0.62%
2016$3.36-0.96%
2017$3.29-1.85%
2018$3.320.79%
2019$3.31-0.37%
2020$3.26-1.37%
2021$3.301.22%
2022$3.485.41%
2023$3.531.56%*

* 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:

Year1939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI14.52315.01516.85424.50028.83128.28526.33127.90836.32338.32339.95439.10039.29239.34639.72339.80040.12339.89241.14641.04640.36937.68537.70038.82339.10039.71538.91538.05438.40838.00038.93138.98536.71539.07740.80845.83157.40858.16963.23170.70079.83891.53197.65496.085105.99297.92399.946105.015104.177119.238131.292138.169145.015139.931135.523143.569153.769159.015159.577160.854159.415162.492166.615166.523164.838162.992167.062175.292177.538207.394207.256195.442205.850205.052203.370202.041200.786198.852195.168196.709195.983193.307195.656206.248209.460

Adjust bananas prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2008 * 2008 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Bananas was 207.394 in the year 2008 and 209.460 in 2023:

209.460 / 207.394 * $3.50 = $3.53

Therefore, according to U.S. Bureau of Labor Statistics, $3.50 in 2008 has the same "purchasing power" as $3.53 in 2023 (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.

» Read more about inflation and investment.