Beans price inflation, 1998→2023

Beans Inflation Calculator

Prices for Beans, 1998-2023 ($5)

According to the U.S. Bureau of Labor Statistics, prices for dried beans, peas, and lentils are 120.50% higher in 2023 versus 1998 (a $6.03 difference in value).

Between 1998 and 2023: Beans experienced an average inflation rate of 3.21% per year. This rate of change indicates significant inflation. In other words, beans costing $5 in the year 1998 would cost $11.03 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.52% during this same period, inflation for beans was higher.

In the year 1998: Pricing changed by 0.34%, which is below the average yearly change for beans during the 1998-2023 time period. Compared to inflation for all items in 1998 (1.55%), inflation for beans was lower.

Price Inflation for Dried beans, peas, and lentils since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 2008 (20.01%), 2009 (11.39%), and 2012 (11.27%).

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Buying power of $5.00 since 1998

Below are calculations of equivalent buying power for Beans, over time, for $5 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
1998	$5.00	0.34%
1999	$5.03	0.67%
2000	$4.95	-1.68%
2001	$4.98	0.57%
2002	$5.45	9.57%
2003	$5.44	-0.26%
2004	$5.50	1.13%
2005	$5.86	6.49%
2006	$5.97	1.85%
2007	$6.60	10.64%
2008	$7.92	20.01%
2009	$8.83	11.39%
2010	$8.64	-2.15%
2011	$8.88	2.86%
2012	$9.88	11.27%
2013	$9.65	-2.41%
2014	$9.93	2.96%
2015	$10.26	3.31%
2016	$10.09	-1.62%
2017	$9.72	-3.74%
2018	$9.44	-2.85%
2019	$9.02	-4.48%
2020	$9.46	4.87%
2021	$9.82	3.90%
2022	$10.82	10.15%
2023	$11.03	1.88%*

* 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 Dried beans, peas, and lentils:

Year	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	100.000	100.338	101.008	99.315	99.877	109.438	109.154	110.392	117.562	119.738	132.481	158.993	177.103	173.303	178.267	198.365	193.582	199.304	205.900	202.567	194.996	189.439	180.943	189.757	197.154	217.174	221.251

Adjust beans prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 1998 * 1998 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Dried beans, peas, and lentils was 100.338 in the year 1998 and 221.251 in 2023:

221.251 / 100.338 * $5 = $11.03

Therefore, according to U.S. Bureau of Labor Statistics, $5 in 1998 has the same "purchasing power" as $11.03 in 2023 (in the CPI category of Dried beans, peas, and lentils).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Dried beans, peas, and lentils in 1997. In addition to beans, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.