According to the U.S. Bureau of Labor Statistics, prices for dairy and related products were 1.18% higher in 2020 versus 2014 (a $0.24 difference in value).
Between 2014 and 2020: Dairy and related products experienced an average inflation rate of 0.20% per year. In other words, dairy and related products costing $20 in the year 2014 would cost $20.24 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.48% during this same period, inflation for dairy and related products was lower.
In the year 2014: Pricing changed by 3.58%, which is significantly above the average yearly change for dairy and related products during the 2014-2020 time period. Compared to inflation for all items in 2014 (1.62%), inflation for dairy and related products was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Dairy and related products:
Below are calculations of equivalent buying power for Dairy and related products, over time, for $20 beginning in 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|