Candy and chewing gum price inflation, 2003→2023

Candy And Chewing Gum Inflation Calculator

Prices for Candy And Chewing Gum, 2003-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for candy and chewing gum are 75.37% higher in 2023 versus 2003 (a $15.07 difference in value).

Between 2003 and 2023: Candy and chewing gum experienced an average inflation rate of 2.85% per year. This rate of change indicates significant inflation. In other words, candy and chewing gum costing $20 in the year 2003 would cost $35.07 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for candy and chewing gum was higher.

In the year 2003: Pricing changed by 1.52%, which is below the average yearly change for candy and chewing gum during the 2003-2023 time period. Compared to inflation for all items in 2003 (2.27%), inflation for candy and chewing gum was lower.

Price Inflation for Candy and chewing gum since 1997

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

Years with the largest changes in pricing: 2022 (9.35%), 2023 (8.61%), and 2008 (6.11%).

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Buying power of $20.00 since 2003

Below are calculations of equivalent buying power for Candy and chewing gum, over time, for $20 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2003	$20.00	1.52%
2004	$20.10	0.49%
2005	$20.30	1.02%
2006	$20.81	2.50%
2007	$21.53	3.45%
2008	$22.84	6.11%
2009	$24.14	5.68%
2010	$24.57	1.77%
2011	$25.22	2.64%
2012	$26.13	3.63%
2013	$25.88	-0.96%
2014	$25.91	0.10%
2015	$26.96	4.05%
2016	$26.91	-0.19%
2017	$26.76	-0.54%
2018	$27.02	0.95%
2019	$27.82	2.97%
2020	$28.72	3.25%
2021	$29.53	2.82%
2022	$32.29	9.35%
2023	$35.07	8.61%*

* 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 Candy and chewing gum:

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	100.954	102.315	103.785	104.308	106.223	107.838	108.362	109.462	112.200	116.075	123.163	130.161	132.467	135.965	140.907	139.555	139.692	145.352	145.080	144.297	145.674	149.997	154.872	159.238	174.127	189.120

Adjust candy and chewing gum prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2003 * 2003 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Candy and chewing gum was 107.838 in the year 2003 and 189.120 in 2023:

189.120 / 107.838 * $20 = $35.07

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2003 has the same "purchasing power" as $35.07 in 2023 (in the CPI category of Candy and chewing gum).

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