Butter priced at $3.18 in 1947 $27.43 in 2023

Butter Inflation Calculator

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Prices for Butter, 1947-2023 ($3.18)

According to the U.S. Bureau of Labor Statistics, prices for butter are 762.70% higher in 2023 versus 1947 (a $24.25 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 1947 and 2023: Butter experienced an average inflation rate of 2.88% per year. This rate of change indicates significant inflation. In other words, butter costing $3.18 in the year 1947 would cost $27.43 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.48% during this same period, inflation for butter was lower.

In the year 1947: Pricing changed by 13.45%, which is significantly above the average yearly change for butter during the 1947-2023 time period. Compared to inflation for all items in 1947 (14.39%), inflation for butter was lower.

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 (2023 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 1947

Below are calculations of equivalent buying power for Butter, over time, for $3.18 beginning in 1947. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1947$3.1813.45%
1948$3.437.78%
1949$2.86-16.42%
1950$2.880.54%
1951$3.2312.26%
1952$3.384.49%
1953$3.14-7.14%
1954$2.87-8.36%
1955$2.82-1.98%
1956$2.882.29%
1957$2.973.01%
1958$2.97-0.09%
1959$3.011.46%
1960$3.00-0.45%
1961$3.062.13%
1962$3.02-1.46%
1963$3.01-0.18%
1964$3.041.01%
1965$3.091.61%
1966$3.368.80%
1967$3.452.76%
1968$3.480.79%
1969$3.531.27%
1970$3.612.38%
1971$3.651.24%
1972$3.64-0.45%
1973$3.825.12%
1974$3.943.12%
1975$4.298.82%
1976$5.2923.24%
1977$5.595.69%
1978$6.2010.87%
1979$7.0113.14%
1980$7.8812.38%
1981$8.487.64%
1982$8.672.27%
1983$8.771.17%
1984$8.992.43%
1985$9.091.08%
1986$9.110.30%
1987$9.281.79%
1988$9.25-0.31%
1989$9.250.03%
1990$8.68-6.18%
1991$8.44-2.71%
1992$8.14-3.55%
1993$7.65-6.10%
1994$7.30-4.48%
1995$7.553.38%
1996$9.4825.58%
1997$10.116.65%
1998$13.2631.11%
1999$12.84-3.12%
2000$11.97-6.79%
2001$15.1226.32%
2002$13.74-9.13%
2003$12.77-7.10%
2004$16.4929.15%
2005$16.27-1.35%
2006$15.08-7.28%
2007$15.04-0.28%
2008$15.704.39%
2009$14.58-7.17%
2010$16.0910.39%
2011$18.5815.45%
2012$17.28-6.97%
2013$17.491.18%
2014$20.0414.60%
2015$20.522.40%
2016$20.660.71%
2017$21.192.53%
2018$21.491.44%
2019$21.731.12%
2020$21.920.84%
2021$21.90-0.10%
2022$26.1519.42%
2023$27.434.92%*

* 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:

Year1939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI14.50816.14618.46921.26923.43122.26922.54631.80836.08538.89232.50832.68536.69238.33835.60032.62331.97732.70833.69233.66234.15434.00034.72334.21534.15434.50035.05438.13839.19239.50040.00040.95441.46241.27743.39244.74648.69260.00863.42370.31579.55489.40096.23198.41599.569101.992103.092103.400105.254104.931104.96298.47795.80892.40886.76982.88585.685107.600114.754150.454145.754135.862171.615155.954144.877187.115184.592171.162170.683178.170165.401182.593210.795196.102198.410227.375232.833234.484240.409243.882246.620248.691248.454296.713311.302

Adjust butter prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1947 * 1947 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Butter was 36.085 in the year 1947 and 311.302 in 2023:

311.302 / 36.085 * $3.18 = $27.43

Therefore, according to U.S. Bureau of Labor Statistics, $3.18 in 1947 has the same "purchasing power" as $27.43 in 2023 (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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