According to the U.S. Bureau of Labor Statistics, prices for domestically produced farm food were 4.30% higher in 2020 versus 2018 (a $0.86 difference in value).
Between 2018 and 2020: Domestically produced farm food experienced an average inflation rate of 2.13% per year. This rate of change indicates significant inflation. In other words, domestically produced farm food costing $20 in the year 2018 would cost $20.86 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.52% during this same period, inflation for domestically produced farm food was higher.
In the year 2018: Pricing changed by 0.44%, which is below the average yearly change for domestically produced farm food during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for domestically produced farm food was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Domestically produced farm food:
Below are calculations of equivalent buying power for Domestically produced farm food, over time, for $20 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|