Cereals and bakery products price inflation, 2023→2024

Cereals And Bakery Products Inflation Calculator

Prices for Cereals And Bakery Products, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for cereals and bakery products are 0.56% higher in 2024 versus 2023 (a $0.11 difference in value).

Between 2023 and 2024: Cereals and bakery products experienced an average inflation rate of 0.56% per year. In other words, cereals and bakery products costing $20 in the year 2023 would cost $20.11 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for cereals and bakery products was lower.

In the year 2023: Pricing changed by 8.43%, which is significantly above the average yearly change for cereals and bakery products during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for cereals and bakery products was much higher.

Price Inflation for Cereals and bakery products since 1935

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

Years with the largest changes in pricing: 1974 (30.08%), 1947 (24.42%), and 1946 (14.52%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Cereals and bakery products, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	8.43%
2024	$20.11	0.56%*

* 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 Cereals and bakery products:

Year	1935	1936	1937	1938	1939	1940	1941	1942	1943	1944	1945	1946	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	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	13.338	13.200	13.538	13.077	12.385	12.685	12.831	13.785	14.108	14.185	14.300	16.377	20.377	22.400	22.269	22.654	24.715	25.315	25.808	26.415	26.831	27.200	28.277	28.838	29.046	29.646	30.308	30.915	31.377	31.492	31.931	33.269	34.008	34.192	35.146	37.069	38.769	39.023	43.477	56.554	62.908	61.477	62.454	68.054	74.915	83.892	92.277	96.500	99.577	103.931	107.923	110.892	114.808	122.123	132.408	139.977	145.808	151.477	156.554	163.008	167.469	173.954	177.638	181.131	184.954	188.262	193.838	198.038	202.777	206.038	208.954	212.838	222.107	244.853	252.567	250.449	260.311	267.682	270.401	271.056	274.056	273.109	271.678	272.781	276.561	282.645	289.079	326.729	354.269	356.265

Adjust cereals and bakery products prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Cereals and bakery products was 354.269 in the year 2023 and 356.265 in 2024:

356.265 / 354.269 * $20 = $20.11

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.11 in 2024 (in the CPI category of Cereals and bakery products).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Cereals and bakery products in 1935. In addition to cereals and bakery products, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.