According to the U.S. Bureau of Labor Statistics, prices for domestically produced farm food are 26.68% higher in 2023 versus 2016 (a $5.34 difference in value).
Between 2016 and 2023: Domestically produced farm food experienced an average inflation rate of 3.44% per year. This rate of change indicates significant inflation. In other words, domestically produced farm food costing $20 in the year 2016 would cost $25.34 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.45% during this same period, inflation for domestically produced farm food was lower.
In the year 2016: Pricing changed by -1.47%, which is significantly below the average yearly change for domestically produced farm food during the 2016-2023 time period. Compared to inflation for all items in 2016 (1.26%), inflation for domestically produced farm food was lower.
Below are calculations of equivalent buying power for Domestically produced farm food, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2016 | $20.00 | -1.47% |
| 2017 | $19.94 | -0.29% |
| 2018 | $20.03 | 0.44% |
| 2019 | $20.17 | 0.72% |
| 2020 | $20.89 | 3.56% |
| 2021 | $21.62 | 3.50% |
| 2022 | $24.14 | 11.64% |
| 2023 | $25.34 | 4.95%* |
* 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 |
| 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 | 313.330 |