According to the U.S. Bureau of Labor Statistics, prices for dried beans, peas, and lentils are 5.88% higher in 2022 versus 2016 (a $0.29 difference in value).
Between 2016 and 2022: Beans experienced an average inflation rate of 0.96% per year. In other words, beans costing $5 in the year 2016 would cost $5.29 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.17% during this same period, inflation for beans was lower.
In the year 2016: Pricing changed by -1.62%, which is below the average yearly change for beans during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for beans was lower.
Below are calculations of equivalent buying power for Beans, over time, for $5 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|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Dried beans, peas, and lentils: