According to the U.S. Bureau of Labor Statistics, prices for beverage materials including coffee and tea are 5.46% higher in 2023 versus 2022 (a $1.09 difference in value).
Between 2022 and 2023: Beverage materials including coffee and tea experienced an average inflation rate of 5.46% per year. This rate of change indicates significant inflation. In other words, beverage materials including coffee and tea costing $20 in the year 2022 would cost $21.09 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.97% during this same period, inflation for beverage materials including coffee and tea was higher.
In the year 2022: Pricing changed by 11.88%, which is significantly above the average yearly change for beverage materials including coffee and tea during the 2022-2023 time period. Compared to inflation for all items in 2022 (8%), inflation for beverage materials including coffee and tea was much higher.
Below are calculations of equivalent buying power for Beverage materials including coffee and tea, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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: