According to the U.S. Bureau of Labor Statistics, prices for domestically produced farm food are 431.29% higher in 2024 versus 1974 (a $86.26 difference in value).
Between 1974 and 2024: Domestically produced farm food experienced an average inflation rate of 3.40% per year. This rate of change indicates significant inflation. In other words, domestically produced farm food costing $20 in the year 1974 would cost $106.26 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation for domestically produced farm food was lower.
In the year 1974: Pricing changed by 13.80%, which is significantly above the average yearly change for domestically produced farm food during the 1974-2024 time period. Compared to inflation for all items in 1974 (11.05%), inflation for domestically produced farm food was higher.
Below are calculations of equivalent buying power for Domestically produced farm food, over time, for $20 beginning in 1974. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1974 | $20.00 | 13.80% |
| 1975 | $21.45 | 7.26% |
| 1976 | $21.67 | 1.01% |
| 1977 | $22.14 | 2.18% |
| 1978 | $24.64 | 11.27% |
| 1979 | $27.52 | 11.71% |
| 1980 | $29.51 | 7.24% |
| 1981 | $31.77 | 7.64% |
| 1982 | $32.92 | 3.61% |
| 1983 | $33.20 | 0.87% |
| 1984 | $34.50 | 3.92% |
| 1985 | $34.91 | 1.17% |
| 1986 | $35.67 | 2.17% |
| 1987 | $37.42 | 4.93% |
| 1988 | $39.08 | 4.44% |
| 1989 | $41.80 | 6.96% |
| 1990 | $44.79 | 7.14% |
| 1991 | $46.09 | 2.90% |
| 1992 | $46.43 | 0.74% |
| 1993 | $47.61 | 2.55% |
| 1994 | $48.75 | 2.39% |
| 1995 | $50.13 | 2.83% |
| 1996 | $52.35 | 4.42% |
| 1997 | $53.59 | 2.39% |
| 1998 | $54.72 | 2.10% |
| 1999 | $55.86 | 2.08% |
| 2000 | $57.06 | 2.15% |
| 2001 | $59.18 | 3.71% |
| 2002 | $60.12 | 1.58% |
| 2003 | $61.61 | 2.48% |
| 2004 | $64.30 | 4.37% |
| 2005 | $65.42 | 1.74% |
| 2006 | $66.43 | 1.55% |
| 2007 | $69.25 | 4.23% |
| 2008 | $73.82 | 6.61% |
| 2009 | $73.92 | 0.13% |
| 2010 | $74.32 | 0.54% |
| 2011 | $77.98 | 4.93% |
| 2012 | $80.07 | 2.69% |
| 2013 | $80.96 | 1.11% |
| 2014 | $83.13 | 2.69% |
| 2015 | $84.20 | 1.28% |
| 2016 | $82.96 | -1.47% |
| 2017 | $82.72 | -0.29% |
| 2018 | $83.09 | 0.44% |
| 2019 | $83.68 | 0.72% |
| 2020 | $86.66 | 3.56% |
| 2021 | $89.70 | 3.50% |
| 2022 | $100.14 | 11.64% |
| 2023 | $105.12 | 4.97% |
| 2024 | $106.26 | 1.08%* |
* 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:
| Year | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 43.100 | 44.685 | 52.400 | 59.631 | 63.962 | 64.608 | 66.015 | 73.454 | 82.054 | 87.992 | 94.715 | 98.138 | 98.992 | 102.877 | 104.085 | 106.338 | 111.577 | 116.531 | 124.638 | 133.538 | 137.415 | 138.431 | 141.962 | 145.354 | 149.469 | 156.069 | 159.792 | 163.154 | 166.554 | 170.138 | 176.454 | 179.238 | 183.685 | 191.708 | 195.038 | 198.069 | 206.457 | 220.104 | 220.386 | 221.577 | 232.490 | 238.732 | 241.374 | 247.865 | 251.041 | 247.347 | 246.637 | 247.723 | 249.503 | 258.381 | 267.432 | 298.563 | 313.412 | 316.811 |