Domestically produced farm food priced at $20 in 1971 $146.55 in 2024

Domestically Produced Farm Food Inflation Calculator

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Prices for Domestically Produced Farm Food, 1971-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for domestically produced farm food are 632.74% higher in 2024 versus 1971 (a $126.55 difference in value).

Between 1971 and 2024: Domestically produced farm food experienced an average inflation rate of 3.83% per year. This rate of change indicates significant inflation. In other words, domestically produced farm food costing $20 in the year 1971 would cost $146.55 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.93% during this same period, inflation for domestically produced farm food was lower.

Price Inflation for Domestically produced farm food since 1971

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1973 (17.27%), 1974 (13.80%), and 1979 (11.71%).

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Buying power of $20.00 since 1971

Below are calculations of equivalent buying power for Domestically produced farm food, over time, for $20 beginning in 1971. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1971$20.00-
1972$20.743.68%
1973$24.3217.27%
1974$27.6713.80%
1975$29.687.26%
1976$29.981.01%
1977$30.632.18%
1978$34.0911.27%
1979$38.0811.71%
1980$40.837.24%
1981$43.957.64%
1982$45.543.61%
1983$45.940.87%
1984$47.743.92%
1985$48.301.17%
1986$49.342.17%
1987$51.784.93%
1988$54.074.44%
1989$57.846.96%
1990$61.977.14%
1991$63.772.90%
1992$64.240.74%
1993$65.882.55%
1994$67.452.39%
1995$69.362.83%
1996$72.424.42%
1997$74.152.39%
1998$75.712.10%
1999$77.292.08%
2000$78.952.15%
2001$81.883.71%
2002$83.171.58%
2003$85.242.48%
2004$88.964.37%
2005$90.511.74%
2006$91.911.55%
2007$95.804.23%
2008$102.146.61%
2009$102.270.13%
2010$102.820.54%
2011$107.884.93%
2012$110.782.69%
2013$112.011.11%
2014$115.022.69%
2015$116.491.28%
2016$114.78-1.47%
2017$114.45-0.29%
2018$114.950.44%
2019$115.780.72%
2020$119.903.56%
2021$124.103.50%
2022$138.5411.64%
2023$145.434.97%
2024$146.550.76%*

* 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 Domestically produced farm food:

Year197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI43.10044.68552.40059.63163.96264.60866.01573.45482.05487.99294.71598.13898.992102.877104.085106.338111.577116.531124.638133.538137.415138.431141.962145.354149.469156.069159.792163.154166.554170.138176.454179.238183.685191.708195.038198.069206.457220.104220.386221.577232.490238.732241.374247.865251.041247.347246.637247.723249.503258.381267.432298.563313.412315.809

Adjust domestically produced farm food prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1971 * 1971 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Domestically produced farm food was 43.100 in the year 1971 and 315.809 in 2024:

315.809 / 43.100 * $20 = $146.55

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1971 has the same "purchasing power" as $146.55 in 2024 (in the CPI category of Domestically produced farm food).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Domestically produced farm food in 1971. In addition to domestically produced farm food, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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