Beverage materials including coffee and tea price inflation, 2020→2023

Beverage Materials Including Coffee And Tea Inflation Calculator

Prices for Beverage Materials Including Coffee And Tea, 2020-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for beverage materials including coffee and tea are 20.65% higher in 2023 versus 2020 (a $4.13 difference in value).

Between 2020 and 2023: Beverage materials including coffee and tea experienced an average inflation rate of 6.46% per year. This rate of change indicates significant inflation. In other words, beverage materials including coffee and tea costing $20 in the year 2020 would cost $24.13 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.05% during this same period, inflation for beverage materials including coffee and tea was higher.

In the year 2020: Pricing changed by 1.02%, which is significantly below the average yearly change for beverage materials including coffee and tea during the 2020-2023 time period. Compared to inflation for all items in 2020 (1.23%), inflation for beverage materials including coffee and tea was lower.

Price Inflation for Beverage materials including coffee and tea since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2022 (11.88%), 2011 (7.45%), and 2023 (5.39%).

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Buying power of $20.00 since 2020

Below are calculations of equivalent buying power for Beverage materials including coffee and tea, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2020	$20.00	1.02%
2021	$20.46	2.32%
2022	$22.90	11.88%
2023	$24.13	5.39%*

* 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 Beverage materials including coffee and tea:

Year	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
CPI	100.000	98.638	96.769	97.938	96.992	96.315	97.362	97.554	102.423	104.077	108.221	112.780	113.254	113.967	122.458	123.663	119.803	118.856	120.371	118.348	118.292	116.709	116.563	117.751	120.484	134.797	142.065

Adjust beverage materials including coffee and tea prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2020 * 2020 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Beverage materials including coffee and tea was 117.751 in the year 2020 and 142.065 in 2023:

142.065 / 117.751 * $20 = $24.13

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2020 has the same "purchasing power" as $24.13 in 2023 (in the CPI category of Beverage materials including coffee and tea).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Beverage materials including coffee and tea in 1997. In addition to beverage materials including coffee and tea, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.