Butter priced at $3.18 in 1946 → $31.71 in 2024

Butter Inflation Calculator

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Prices for Butter, 1946-2024 ($3.18)

According to the U.S. Bureau of Labor Statistics, prices for butter are 897.05% higher in 2024 versus 1946 (a $28.53 difference in value).

The current national average price is $3.18 for "Butter, salted, grade AA, stick, per lb. (453.6 gm)". This data is collected by a national survey and can vary from region to region.

Between 1946 and 2024: Butter experienced an average inflation rate of 2.99% per year. This rate of change indicates significant inflation. In other words, butter costing $3.18 in the year 1946 would cost $31.71 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.62% during this same period, inflation for butter was lower.

In the year 1946: Pricing changed by 41.08%, which is significantly above the average yearly change for butter during the 1946-2024 time period. Compared to inflation for all items in 1946 (8.47%), inflation for butter was much higher.

Price Inflation for Butter since 1939

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1946 (41.08%), 1998 (31.11%), and 2004 (29.15%).

Price history

The average price for Butter is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.

Average prices for Butter, salted, grade AA, stick, per lb. (453.6 gm):

YearAverage price (Butter)Inflation adjusted price (2024 dollars)
2012$3.38$3.38
2011$3.60$3.35
2010$3.12$3.36
2009$2.84$3.37
2008$3.14$3.45
2007$3.03$3.49
2006$2.92$3.35
2005$3.28$3.49
2004$3.49$3.66
2003$2.81$3.81
2002$3.07$3.86
2001$3.30$3.77
2000$2.52$3.64
1999$2.65$3.57
1998$2.86$3.73
1997$2.17$3.70
1996$2.05$3.73
1995$1.61$3.68
1994$1.60$3.79
1993$1.66$3.75
1992$1.83$3.88
1991$1.94$3.96
1990$1.99$3.97
1989$2.13$3.98
1988$2.16$4.03
1987$2.17$4.04
1986$2.15$4.08
1985$2.12$4.04
1984$2.11$4.05
1983$2.06$4.07
1982$2.05$4.08
1981$1.99$4.06
1980$1.88$4.12
View price changes for other categories
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Buying power of $3.18 since 1946

Below are calculations of equivalent buying power for Butter, over time, for $3.18 beginning in 1946. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1946$3.1841.08%
1947$3.6113.45%
1948$3.897.78%
1949$3.25-16.42%
1950$3.270.54%
1951$3.6712.26%
1952$3.834.49%
1953$3.56-7.14%
1954$3.26-8.36%
1955$3.20-1.98%
1956$3.272.29%
1957$3.373.01%
1958$3.37-0.09%
1959$3.411.46%
1960$3.40-0.45%
1961$3.472.13%
1962$3.42-1.46%
1963$3.41-0.18%
1964$3.451.01%
1965$3.501.61%
1966$3.818.80%
1967$3.922.76%
1968$3.950.79%
1969$4.001.27%
1970$4.092.38%
1971$4.151.24%
1972$4.13-0.45%
1973$4.345.12%
1974$4.473.12%
1975$4.878.82%
1976$6.0023.24%
1977$6.345.69%
1978$7.0310.87%
1979$7.9513.14%
1980$8.9412.38%
1981$9.627.64%
1982$9.842.27%
1983$9.951.17%
1984$10.202.43%
1985$10.311.08%
1986$10.340.30%
1987$10.521.79%
1988$10.49-0.31%
1989$10.490.03%
1990$9.85-6.18%
1991$9.58-2.71%
1992$9.24-3.55%
1993$8.67-6.10%
1994$8.29-4.48%
1995$8.573.38%
1996$10.7625.58%
1997$11.476.65%
1998$15.0431.11%
1999$14.57-3.12%
2000$13.58-6.79%
2001$17.1626.32%
2002$15.59-9.13%
2003$14.48-7.10%
2004$18.7129.15%
2005$18.45-1.35%
2006$17.11-7.28%
2007$17.06-0.28%
2008$17.814.39%
2009$16.54-7.17%
2010$18.2510.39%
2011$21.0715.45%
2012$19.61-6.97%
2013$19.841.18%
2014$22.7314.60%
2015$23.282.40%
2016$23.440.71%
2017$24.042.53%
2018$24.381.44%
2019$24.661.12%
2020$24.860.84%
2021$24.84-0.10%
2022$29.6619.42%
2023$30.593.11%
2024$31.713.66%*

* 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:

Year19391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI14.50816.14618.46921.26923.43122.26922.54631.80836.08538.89232.50832.68536.69238.33835.60032.62331.97732.70833.69233.66234.15434.00034.72334.21534.15434.50035.05438.13839.19239.50040.00040.95441.46241.27743.39244.74648.69260.00863.42370.31579.55489.40096.23198.41599.569101.992103.092103.400105.254104.931104.96298.47795.80892.40886.76982.88585.685107.600114.754150.454145.754135.862171.615155.954144.877187.115184.592171.162170.683178.170165.401182.593210.795196.102198.410227.375232.833234.484240.409243.882246.620248.691248.454296.713305.928317.137

Adjust butter prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1946 * 1946 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Butter was 31.808 in the year 1946 and 317.137 in 2024:

317.137 / 31.808 * $3.18 = $31.71

Therefore, according to U.S. Bureau of Labor Statistics, $3.18 in 1946 has the same "purchasing power" as $31.71 in 2024 (in the CPI category of Butter).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Butter in 1939. In addition to butter, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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