According to the U.S. Bureau of Labor Statistics, prices for beef and veal are 3,400.76% higher in 2024 versus 1940 (a $680.15 difference in value).
Between 1940 and 2024: Beef and veal experienced an average inflation rate of 4.32% per year. This rate of change indicates significant inflation. In other words, beef and veal costing $20 in the year 1940 would cost $700.15 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation for beef and veal was higher.
In the year 1940: Pricing changed by 1.62%, which is below the average yearly change for beef and veal during the 1940-2024 time period. Compared to inflation for all items in 1940 (0.72%), inflation for beef and veal was higher.
Below are calculations of equivalent buying power for Beef and veal, over time, for $20 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1940 | $20.00 | 1.62% |
| 1941 | $21.58 | 7.90% |
| 1942 | $24.04 | 11.40% |
| 1943 | $24.27 | 0.95% |
| 1944 | $23.11 | -4.78% |
| 1945 | $23.03 | -0.33% |
| 1946 | $29.32 | 27.28% |
| 1947 | $41.57 | 41.78% |
| 1948 | $50.34 | 21.10% |
| 1949 | $46.95 | -6.74% |
| 1950 | $51.75 | 10.24% |
| 1951 | $60.43 | 16.77% |
| 1952 | $59.91 | -0.86% |
| 1953 | $47.29 | -21.06% |
| 1954 | $45.47 | -3.85% |
| 1955 | $44.97 | -1.09% |
| 1956 | $44.27 | -1.56% |
| 1957 | $47.58 | 7.49% |
| 1958 | $55.36 | 16.34% |
| 1959 | $57.00 | 2.97% |
| 1960 | $55.56 | -2.53% |
| 1961 | $54.67 | -1.61% |
| 1962 | $56.62 | 3.57% |
| 1963 | $55.96 | -1.17% |
| 1964 | $54.35 | -2.87% |
| 1965 | $56.93 | 4.74% |
| 1966 | $59.92 | 5.26% |
| 1967 | $60.31 | 0.64% |
| 1968 | $62.74 | 4.04% |
| 1969 | $69.05 | 10.06% |
| 1970 | $72.07 | 4.38% |
| 1971 | $75.32 | 4.51% |
| 1972 | $82.38 | 9.38% |
| 1973 | $98.75 | 19.87% |
| 1974 | $101.59 | 2.88% |
| 1975 | $102.54 | 0.93% |
| 1976 | $99.18 | -3.27% |
| 1977 | $98.66 | -0.53% |
| 1978 | $121.21 | 22.86% |
| 1979 | $154.25 | 27.26% |
| 1980 | $163.00 | 5.67% |
| 1981 | $164.38 | 0.85% |
| 1982 | $166.72 | 1.42% |
| 1983 | $164.24 | -1.48% |
| 1984 | $166.18 | 1.18% |
| 1985 | $162.68 | -2.11% |
| 1986 | $163.66 | 0.60% |
| 1987 | $176.11 | 7.61% |
| 1988 | $185.74 | 5.46% |
| 1989 | $197.76 | 6.47% |
| 1990 | $213.36 | 7.89% |
| 1991 | $219.46 | 2.86% |
| 1992 | $219.17 | -0.13% |
| 1993 | $227.18 | 3.65% |
| 1994 | $225.29 | -0.83% |
| 1995 | $223.47 | -0.81% |
| 1996 | $222.86 | -0.27% |
| 1997 | $226.63 | 1.69% |
| 1998 | $226.22 | -0.18% |
| 1999 | $230.67 | 1.97% |
| 2000 | $245.37 | 6.37% |
| 2001 | $265.91 | 8.37% |
| 2002 | $266.13 | 0.08% |
| 2003 | $290.13 | 9.02% |
| 2004 | $323.65 | 11.55% |
| 2005 | $332.12 | 2.62% |
| 2006 | $334.82 | 0.81% |
| 2007 | $349.75 | 4.46% |
| 2008 | $365.54 | 4.51% |
| 2009 | $361.70 | -1.05% |
| 2010 | $372.04 | 2.86% |
| 2011 | $409.93 | 10.18% |
| 2012 | $435.97 | 6.35% |
| 2013 | $444.65 | 1.99% |
| 2014 | $498.33 | 12.07% |
| 2015 | $534.42 | 7.24% |
| 2016 | $500.55 | -6.34% |
| 2017 | $494.48 | -1.21% |
| 2018 | $501.43 | 1.41% |
| 2019 | $509.33 | 1.58% |
| 2020 | $558.41 | 9.64% |
| 2021 | $610.45 | 9.32% |
| 2022 | $642.67 | 5.28% |
| 2023 | $665.82 | 3.60% |
| 2024 | $700.15 | 5.16%* |
* 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 Beef and veal:
| Year | 1935 | 1936 | 1937 | 1938 | 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 | 2024 |
| CPI | 11.623 | 11.131 | 12.523 | 11.600 | 11.877 | 12.069 | 13.023 | 14.508 | 14.646 | 13.946 | 13.900 | 17.692 | 25.085 | 30.377 | 28.331 | 31.231 | 36.469 | 36.154 | 28.538 | 27.438 | 27.138 | 26.715 | 28.715 | 33.408 | 34.400 | 33.531 | 32.992 | 34.169 | 33.769 | 32.800 | 34.354 | 36.162 | 36.392 | 37.862 | 41.669 | 43.492 | 45.454 | 49.715 | 59.592 | 61.308 | 61.877 | 59.854 | 59.538 | 73.146 | 93.085 | 98.362 | 99.200 | 100.608 | 99.115 | 100.285 | 98.169 | 98.762 | 106.277 | 112.085 | 119.338 | 128.754 | 132.438 | 132.262 | 137.092 | 135.954 | 134.854 | 134.485 | 136.762 | 136.515 | 139.200 | 148.069 | 160.469 | 160.600 | 175.085 | 195.308 | 200.423 | 202.054 | 211.060 | 220.586 | 218.273 | 224.511 | 247.377 | 263.089 | 268.326 | 300.724 | 322.504 | 302.062 | 298.399 | 302.592 | 307.362 | 336.980 | 368.383 | 387.828 | 401.794 | 422.514 |