Domestically produced farm food priced at $20 in 2022 $20.92 in 2023

Domestically Produced Farm Food Inflation Calculator

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Prices for Domestically Produced Farm Food, 2022-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for domestically produced farm food are 4.62% higher in 2023 versus 2022 (a $0.92 difference in value).

Between 2022 and 2023: Domestically produced farm food experienced an average inflation rate of 4.62% per year. This rate of change indicates significant inflation. In other words, domestically produced farm food costing $20 in the year 2022 would cost $20.92 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation for domestically produced farm food was higher.

In the year 2022: Pricing changed by 11.64%, which is significantly above the average yearly change for domestically produced farm food during the 2022-2023 time period. Compared to inflation for all items in 2022 (8%), inflation for domestically produced farm food was much higher.

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 2022

Below are calculations of equivalent buying power for Domestically produced farm food, 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$20.0011.64%
2023$20.924.62%*

* 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:

Year19711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI43.10044.68552.40059.63163.96264.60866.01573.45482.05487.99294.71598.13898.992102.877104.085106.338111.577116.531124.638133.538137.415138.431141.962145.354149.469156.069159.792163.154166.554170.138176.454179.238183.685191.708195.038198.069206.457220.104220.386221.577232.490238.732241.374247.865251.041247.347246.637247.723249.503258.381267.432298.563312.355

Adjust domestically produced farm food prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2022 * 2022 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Domestically produced farm food was 298.563 in the year 2022 and 312.355 in 2023:

312.355 / 298.563 * $20 = $20.92

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $20.92 in 2023 (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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