Dairy and related products priced at $20 in 1996 $38.31 in 2023

Dairy And Related Products Inflation Calculator

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Prices for Dairy And Related Products, 1996-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for dairy and related products are 91.53% higher in 2023 versus 1996 (a $18.31 difference in value).

Between 1996 and 2023: Dairy and related products experienced an average inflation rate of 2.44% per year. This rate of change indicates significant inflation. In other words, dairy and related products costing $20 in the year 1996 would cost $38.31 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.43% during this same period, inflation for dairy and related products was higher.

In the year 1996: Pricing changed by 6.97%, which is significantly above the average yearly change for dairy and related products during the 1996-2023 time period. Compared to inflation for all items in 1996 (2.93%), inflation for dairy and related products was much higher.

Price Inflation for Dairy and related products since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1946 (23.23%), 1974 (18.70%), and 1947 (12.83%).

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Buying power of $20.00 since 1996

Below are calculations of equivalent buying power for Dairy and related products, over time, for $20 beginning in 1996. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1996$20.006.97%
1997$20.482.40%
1998$21.223.62%
1999$22.465.85%
2000$22.610.67%
2001$23.523.98%
2002$23.660.61%
2003$23.63-0.14%
2004$25.367.35%
2005$25.671.21%
2006$25.53-0.56%
2007$27.417.39%
2008$29.618.02%
2009$27.73-6.36%
2010$28.041.13%
2011$29.946.78%
2012$30.582.13%
2013$30.620.13%
2014$31.713.56%
2015$31.31-1.28%
2016$30.59-2.30%
2017$30.610.07%
2018$30.47-0.46%
2019$30.781.03%
2020$32.144.40%
2021$32.571.36%
2022$36.4812.00%
2023$38.315.00%*

* 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 Dairy and related products:

Year19351936193719381939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI15.32315.98516.56915.66915.06215.94617.60019.70021.17721.00021.06225.95429.28532.20029.35429.03832.38533.76933.17732.11532.05432.90033.83834.36234.60835.35435.89235.68535.57735.86936.00838.31539.99241.32342.65444.72346.11546.85451.16260.73162.62367.70069.52374.20082.79290.94697.42398.78599.969101.262103.162103.354105.915108.354115.608126.523125.100128.508129.369131.738132.831142.092145.500150.769159.592160.669167.069168.092167.862180.200182.385181.362194.770210.396197.013199.245212.745217.270217.554225.310222.418217.306217.455216.462218.693228.322231.422259.184272.156

Adjust dairy and related products prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1996 * 1996 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Dairy and related products was 142.092 in the year 1996 and 272.156 in 2023:

272.156 / 142.092 * $20 = $38.31

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1996 has the same "purchasing power" as $38.31 in 2023 (in the CPI category of Dairy and related products).


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

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