Candy and chewing gum price inflation, 2016→2024

Candy And Chewing Gum Inflation Calculator

Prices for Candy And Chewing Gum, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for candy and chewing gum are 34.93% higher in 2024 versus 2016 (a $6.99 difference in value).

Between 2016 and 2024: Candy and chewing gum experienced an average inflation rate of 3.82% per year. This rate of change indicates significant inflation. In other words, candy and chewing gum costing $20 in the year 2016 would cost $26.99 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.40% during this same period, inflation for candy and chewing gum was higher.

In the year 2016: Pricing changed by -0.19%, which is significantly below the average yearly change for candy and chewing gum during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), 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: 2023 (9.40%), 2022 (9.35%), and 2008 (6.11%).

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Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Candy and chewing gum, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2016	$20.00	-0.19%
2017	$19.89	-0.54%
2018	$20.08	0.95%
2019	$20.68	2.97%
2020	$21.35	3.25%
2021	$21.95	2.82%
2022	$24.00	9.35%
2023	$26.26	9.40%
2024	$26.99	2.76%*

* 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	2024
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	190.500	195.762

Adjust candy and chewing gum prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Candy and chewing gum was 145.080 in the year 2016 and 195.762 in 2024:

195.762 / 145.080 * $20 = $26.99

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $26.99 in 2024 (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.