According to the U.S. Bureau of Labor Statistics, prices for dairy and related products were 5.30% higher in 2020 versus 2018 (a $1.06 difference in value).
Between 2018 and 2020: Dairy and related products experienced an average inflation rate of 2.61% per year. This rate of change indicates significant inflation. In other words, dairy and related products costing $20 in the year 2018 would cost $21.06 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.42% during this same period, inflation for dairy and related products was higher.
In the year 2018: Pricing changed by -0.46%, which is significantly below the average yearly change for dairy and related products during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for dairy and related products was lower.
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 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|