According to the U.S. Bureau of Labor Statistics, prices for dairy and related products were 4.25% higher in 2020 versus 2019 (a $0.85 difference in value).
Between 2019 and 2020: Dairy and related products experienced an average inflation rate of 4.25% per year. This rate of change indicates significant inflation. In other words, dairy and related products costing $20 in the year 2019 would cost $20.85 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.11% during this same period, inflation for dairy and related products was significantly higher.
In the year 2019: Pricing changed by 1.03%, which is significantly below the average yearly change for dairy and related products during the 2019-2020 time period. Compared to inflation for all items in 2019 (1.81%), 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 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|