Butter and margarine price inflation, 1997→2023

Butter And Margarine Inflation Calculator

Prices for Butter And Margarine, 1997-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for butter and margarine are 187.50% higher in 2023 versus 1997 (a $37.50 difference in value).

Between 1997 and 2023: Butter and margarine experienced an average inflation rate of 4.15% per year. This rate of change indicates significant inflation. In other words, butter and margarine costing $20 in the year 1997 would cost $57.50 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.43% during this same period, inflation for butter and margarine was higher.

Price Inflation for Butter and margarine since 1997

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

Years with the largest changes in pricing: 2022 (23.66%), 2001 (14.89%), and 2004 (14.87%).

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Buying power of $20.00 since 1997

Below are calculations of equivalent buying power for Butter and margarine, over time, for $20 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
1997	$20.00	-
1998	$22.34	11.68%
1999	$22.31	-0.10%
2000	$21.62	-3.09%
2001	$24.84	14.89%
2002	$24.20	-2.61%
2003	$23.89	-1.25%
2004	$27.44	14.87%
2005	$27.26	-0.69%
2006	$26.53	-2.68%
2007	$27.25	2.74%
2008	$30.89	13.36%
2009	$31.18	0.94%
2010	$32.15	3.09%
2011	$36.82	14.55%
2012	$36.76	-0.17%
2013	$36.79	0.06%
2014	$39.49	7.35%
2015	$39.86	0.94%
2016	$40.17	0.77%
2017	$40.95	1.94%
2018	$41.09	0.33%
2019	$41.21	0.29%
2020	$41.51	0.73%
2021	$42.08	1.38%
2022	$52.04	23.66%
2023	$57.50	10.50%*

* 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 Butter and margarine:

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	111.677	111.569	108.123	124.223	120.977	119.462	137.223	136.277	132.631	136.260	154.470	155.924	160.740	184.122	183.813	183.932	197.454	199.308	200.844	204.749	205.432	206.035	207.531	210.403	260.194	287.502

Adjust butter and margarine prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1997 * 1997 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Butter and margarine was 100.000 in the year 1997 and 287.502 in 2023:

287.502 / 100.000 * $20 = $57.50

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1997 has the same "purchasing power" as $57.50 in 2023 (in the CPI category of Butter and margarine).

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