Beef and veal priced at $20 in 2003 $43.73 in 2023

Beef And Veal Inflation Calculator

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Prices for Beef And Veal, 2003-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for beef and veal are 118.67% higher in 2023 versus 2003 (a $23.73 difference in value).

Between 2003 and 2023: Beef and veal experienced an average inflation rate of 3.99% per year. This rate of change indicates significant inflation. In other words, beef and veal costing $20 in the year 2003 would cost $43.73 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.48% during this same period, inflation for beef and veal was higher.

In the year 2003: Pricing changed by 9.02%, which is significantly above the average yearly change for beef and veal during the 2003-2023 time period. Compared to inflation for all items in 2003 (2.27%), inflation for beef and veal was much 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 2003

Below are calculations of equivalent buying power for Beef and veal, over time, for $20 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2003$20.009.02%
2004$22.3111.55%
2005$22.892.62%
2006$23.080.81%
2007$24.114.46%
2008$25.204.51%
2009$24.93-1.05%
2010$25.652.86%
2011$28.2610.18%
2012$30.056.35%
2013$30.651.99%
2014$34.3512.07%
2015$36.847.24%
2016$34.50-6.34%
2017$34.09-1.21%
2018$34.571.41%
2019$35.111.58%
2020$38.499.64%
2021$42.089.32%
2022$44.305.28%
2023$43.73-1.28%*

* 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:

Year19351936193719381939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI11.62311.13112.52311.60011.87712.06913.02314.50814.64613.94613.90017.69225.08530.37728.33131.23136.46936.15428.53827.43827.13826.71528.71533.40834.40033.53132.99234.16933.76932.80034.35436.16236.39237.86241.66943.49245.45449.71559.59261.30861.87759.85459.53873.14693.08598.36299.200100.60899.115100.28598.16998.762106.277112.085119.338128.754132.438132.262137.092135.954134.854134.485136.762136.515139.200148.069160.469160.600175.085195.308200.423202.054211.060220.586218.273224.511247.377263.089268.326300.724322.504302.062298.399302.592307.362336.980368.383387.828382.853

Adjust beef and veal prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2003 * 2003 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Beef and veal was 175.085 in the year 2003 and 382.853 in 2023:

382.853 / 175.085 * $20 = $43.73

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2003 has the same "purchasing power" as $43.73 in 2023 (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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