According to the U.S. Bureau of Labor Statistics, prices for cheese and related products were 5.58% higher in 2020 versus 2016 (a $1.12 difference in value).
Between 2016 and 2020: Cheese and related products experienced an average inflation rate of 1.37% per year. In other words, cheese and related products costing $20 in the year 2016 would cost $21.12 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.90% during this same period, inflation for cheese and related products was lower.
In the year 2016: Pricing changed by -2.43%, which is significantly below the average yearly change for cheese and related products during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for cheese and related products was much lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Cheese and related products:
Below are calculations of equivalent buying power for Cheese and related products, 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|