Dairy and related products priced at $20 in 2022 → $20.71 in 2024

Dairy And Related Products Inflation Calculator

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Prices for Dairy And Related Products, 2022-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for dairy and related products are 3.57% higher in 2024 versus 2022 (a $0.71 difference in value).

Between 2022 and 2024: Dairy and related products experienced an average inflation rate of 1.77% per year. In other words, dairy and related products costing $20 in the year 2022 would cost $20.71 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation for dairy and related products was lower.

In the year 2022: Pricing changed by 12%, which is significantly above the average yearly change for dairy and related products during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), 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 2022

Below are calculations of equivalent buying power for Dairy and related products, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2022$20.0012.00%
2023$20.803.99%
2024$20.71-0.41%*

* 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:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI15.32315.98516.56915.66915.06215.94617.60019.70021.17721.00021.06225.95429.28532.20029.35429.03832.38533.76933.17732.11532.05432.90033.83834.36234.60835.35435.89235.68535.57735.86936.00838.31539.99241.32342.65444.72346.11546.85451.16260.73162.62367.70069.52374.20082.79290.94697.42398.78599.969101.262103.162103.354105.915108.354115.608126.523125.100128.508129.369131.738132.831142.092145.500150.769159.592160.669167.069168.092167.862180.200182.385181.362194.770210.396197.013199.245212.745217.270217.554225.310222.418217.306217.455216.462218.693228.322231.422259.184269.528268.433

Adjust dairy and related products prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2022 * 2022 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Dairy and related products was 259.184 in the year 2022 and 268.433 in 2024:

268.433 / 259.184 * $20 = $20.71

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $20.71 in 2024 (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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