Beef and veal priced at $20 in 1962 $243.52 in 2024

Beef And Veal Inflation Calculator

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Prices for Beef And Veal, 1962-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for beef and veal are 1,117.58% higher in 2024 versus 1962 (a $223.52 difference in value).

Between 1962 and 2024: Beef and veal experienced an average inflation rate of 4.11% per year. This rate of change indicates significant inflation. In other words, beef and veal costing $20 in the year 1962 would cost $243.52 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.84% during this same period, inflation for beef and veal was higher.

In the year 1962: Pricing changed by 3.57%, which is below the average yearly change for beef and veal during the 1962-2024 time period. Compared to inflation for all items in 1962 (1.18%), inflation for beef and veal was higher.

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%).

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Buying power of $20.00 since 1962

Below are calculations of equivalent buying power for Beef and veal, over time, for $20 beginning in 1962. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1962$20.003.57%
1963$19.77-1.17%
1964$19.20-2.87%
1965$20.114.74%
1966$21.175.26%
1967$21.300.64%
1968$22.164.04%
1969$24.3910.06%
1970$25.464.38%
1971$26.614.51%
1972$29.109.38%
1973$34.8819.87%
1974$35.882.88%
1975$36.220.93%
1976$35.03-3.27%
1977$34.85-0.53%
1978$42.8122.86%
1979$54.4827.26%
1980$57.575.67%
1981$58.060.85%
1982$58.891.42%
1983$58.01-1.48%
1984$58.701.18%
1985$57.46-2.11%
1986$57.810.60%
1987$62.217.61%
1988$65.615.46%
1989$69.856.47%
1990$75.367.89%
1991$77.522.86%
1992$77.42-0.13%
1993$80.243.65%
1994$79.58-0.83%
1995$78.93-0.81%
1996$78.72-0.27%
1997$80.051.69%
1998$79.91-0.18%
1999$81.481.97%
2000$86.676.37%
2001$93.938.37%
2002$94.000.08%
2003$102.489.02%
2004$114.3211.55%
2005$117.312.62%
2006$118.270.81%
2007$123.544.46%
2008$129.114.51%
2009$127.76-1.05%
2010$131.412.86%
2011$144.8010.18%
2012$153.996.35%
2013$157.061.99%
2014$176.0212.07%
2015$188.777.24%
2016$176.80-6.34%
2017$174.66-1.21%
2018$177.111.41%
2019$179.911.58%
2020$197.249.64%
2021$215.629.32%
2022$227.005.28%
2023$235.183.60%
2024$243.523.54%*

* 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:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI11.62311.13112.52311.60011.87712.06913.02314.50814.64613.94613.90017.69225.08530.37728.33131.23136.46936.15428.53827.43827.13826.71528.71533.40834.40033.53132.99234.16933.76932.80034.35436.16236.39237.86241.66943.49245.45449.71559.59261.30861.87759.85459.53873.14693.08598.36299.200100.60899.115100.28598.16998.762106.277112.085119.338128.754132.438132.262137.092135.954134.854134.485136.762136.515139.200148.069160.469160.600175.085195.308200.423202.054211.060220.586218.273224.511247.377263.089268.326300.724322.504302.062298.399302.592307.362336.980368.383387.828401.794416.037

Adjust beef and veal prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1962 * 1962 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Beef and veal was 34.169 in the year 1962 and 416.037 in 2024:

416.037 / 34.169 * $20 = $243.52

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1962 has the same "purchasing power" as $243.52 in 2024 (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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