Cereals and cereal products price inflation, 2023→2024

Cereals And Cereal Products Inflation Calculator

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

According to the U.S. Bureau of Labor Statistics, prices for cereals and cereal products are 0.29% lower in 2024 versus 2023 (a $0.06 difference in value).

Between 2023 and 2024: Cereals and cereal products experienced an average inflation rate of -0.29% per year. In other words, cereals and cereal products costing $20 in the year 2023 would cost $19.94 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.44% during this same period, inflation for cereals and cereal products was lower.

In the year 2023: Pricing changed by 7.23%, which is significantly above the average yearly change for cereals and cereal products during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for cereals and cereal products was much higher.

Price Inflation for Cereals and cereal products since 1977

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

Years with the largest changes in pricing: 1980 (13.78%), 2022 (13.76%), and 1981 (11.06%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Cereals and cereal 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	7.23%
2024	$19.94	-0.29%*

* 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 cereal products:

Year	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	63.300	68.262	74.008	84.208	93.523	97.462	99.354	103.208	107.200	110.369	113.846	122.477	133.800	141.062	147.523	153.254	157.862	164.831	167.123	168.869	169.531	171.508	174.969	175.908	178.685	181.831	185.185	186.154	186.708	187.292	194.684	214.403	221.765	217.639	227.164	232.919	232.690	232.863	234.083	231.228	227.683	226.633	227.613	231.787	235.802	268.246	287.630	286.805

Adjust cereals and cereal 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 cereal products was 287.630 in the year 2023 and 286.805 in 2024:

286.805 / 287.630 * $20 = $19.94

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $19.94 in 2024 (in the CPI category of Cereals and cereal products).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Cereals and cereal products in 1977. In addition to cereals and cereal products, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.