Beans price inflation, 2003→2024

Beans Inflation Calculator

Prices for Beans, 2003-2024 ($5)

According to the U.S. Bureau of Labor Statistics, prices for dried beans, peas, and lentils are 110.92% higher in 2024 versus 2003 (a $5.55 difference in value).

Between 2003 and 2024: Beans experienced an average inflation rate of 3.62% per year. This rate of change indicates significant inflation. In other words, beans costing $5 in the year 2003 would cost $10.55 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.57% during this same period, inflation for beans was higher.

In the year 2003: Pricing changed by -0.26%, which is significantly below the average yearly change for beans during the 2003-2024 time period. Compared to inflation for all items in 2003 (2.27%), 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 2003

Below are calculations of equivalent buying power for Beans, over time, for $5 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2003	$5.00	-0.26%
2004	$5.06	1.13%
2005	$5.39	6.49%
2006	$5.48	1.85%
2007	$6.07	10.64%
2008	$7.28	20.01%
2009	$8.11	11.39%
2010	$7.94	-2.15%
2011	$8.17	2.86%
2012	$9.09	11.27%
2013	$8.87	-2.41%
2014	$9.13	2.96%
2015	$9.43	3.31%
2016	$9.28	-1.62%
2017	$8.93	-3.74%
2018	$8.68	-2.85%
2019	$8.29	-4.48%
2020	$8.69	4.87%
2021	$9.03	3.90%
2022	$9.95	10.15%
2023	$10.13	1.81%
2024	$10.55	4.12%*

* 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	2024
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	221.108	230.227

Adjust beans prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2003 * 2003 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Dried beans, peas, and lentils was 109.154 in the year 2003 and 230.227 in 2024:

230.227 / 109.154 * $5 = $10.55

Therefore, according to U.S. Bureau of Labor Statistics, $5 in 2003 has the same "purchasing power" as $10.55 in 2024 (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.