Beef and veal priced at $20 in 1938 $673.46 in 2022

Beef And Veal Inflation Calculator

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Prices for Beef And Veal, 1938-2022 ($20)

According to the U.S. Bureau of Labor Statistics, prices for beef and veal are 3,267.31% higher in 2022 versus 1938 (a $653.46 difference in value).

Between 1938 and 2022: Beef and veal experienced an average inflation rate of 4.28% per year. This rate of change indicates significant inflation. In other words, beef and veal costing $20 in the year 1938 would cost $673.46 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.66% during this same period, inflation for beef and veal was higher.

In the year 1938: Pricing changed by -7.37%, which is significantly below the average yearly change for beef and veal during the 1938-2022 time period. Compared to inflation for all items in 1938 (-2.03%), inflation for beef and veal was much lower.

Price Inflation for Beef and veal since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1947 (41.78%), 1946 (27.28%), and 1979 (27.26%).

View price changes for other categories
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Buying power of $20.00 since 1938

Below are calculations of equivalent buying power for Beef and veal, over time, for $20 beginning in 1938. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1938$20.00-7.37%
1939$20.482.39%
1940$20.811.62%
1941$22.457.90%
1942$25.0111.40%
1943$25.250.95%
1944$24.05-4.78%
1945$23.97-0.33%
1946$30.5027.28%
1947$43.2541.78%
1948$52.3721.10%
1949$48.85-6.74%
1950$53.8510.24%
1951$62.8816.77%
1952$62.33-0.86%
1953$49.20-21.06%
1954$47.31-3.85%
1955$46.79-1.09%
1956$46.06-1.56%
1957$49.517.49%
1958$57.6016.34%
1959$59.312.97%
1960$57.81-2.53%
1961$56.88-1.61%
1962$58.913.57%
1963$58.22-1.17%
1964$56.55-2.87%
1965$59.234.74%
1966$62.355.26%
1967$62.750.64%
1968$65.284.04%
1969$71.8410.06%
1970$74.994.38%
1971$78.374.51%
1972$85.729.38%
1973$102.7519.87%
1974$105.702.88%
1975$106.680.93%
1976$103.20-3.27%
1977$102.65-0.53%
1978$126.1122.86%
1979$160.4927.26%
1980$169.595.67%
1981$171.030.85%
1982$173.461.42%
1983$170.89-1.48%
1984$172.901.18%
1985$169.26-2.11%
1986$170.280.60%
1987$183.247.61%
1988$193.255.46%
1989$205.766.47%
1990$221.997.89%
1991$228.342.86%
1992$228.04-0.13%
1993$236.373.65%
1994$234.40-0.83%
1995$232.51-0.81%
1996$231.87-0.27%
1997$235.801.69%
1998$235.37-0.18%
1999$240.001.97%
2000$255.296.37%
2001$276.678.37%
2002$276.900.08%
2003$301.879.02%
2004$336.7411.55%
2005$345.562.62%
2006$348.370.81%
2007$363.904.46%
2008$380.324.51%
2009$376.33-1.05%
2010$387.092.86%
2011$426.5110.18%
2012$453.606.35%
2013$462.631.99%
2014$518.4912.07%
2015$556.047.24%
2016$520.80-6.34%
2017$514.48-1.21%
2018$521.711.41%
2019$529.931.58%
2020$581.009.64%
2021$635.149.32%
2022$673.466.03%*
* Not final. See inflation summary for latest details.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Beef and veal:

Year1935193619371938193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022
CPI11.62311.13112.52311.60011.87712.06913.02314.50814.64613.94613.90017.69225.08530.37728.33131.23136.46936.15428.53827.43827.13826.71528.71533.40834.40033.53132.99234.16933.76932.80034.35436.16236.39237.86241.66943.49245.45449.71559.59261.30861.87759.85459.53873.14693.08598.36299.200100.60899.115100.28598.16998.762106.277112.085119.338128.754132.438132.262137.092135.954134.854134.485136.762136.515139.200148.069160.469160.600175.085195.308200.423202.054211.060220.586218.273224.511247.377263.089268.326300.724322.504302.062298.399302.592307.362336.980368.383390.607

Adjust beef and veal prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1938 * 1938 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Beef and veal was 11.600 in the year 1938 and 390.607 in 2022:

390.607 / 11.600 * $20 = $673.46

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1938 has the same "purchasing power" as $673.46 in 2022 (in the CPI category of Beef and veal).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Beef and veal in 1935. In addition to beef and veal, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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