According to the U.S. Bureau of Labor Statistics, prices for dried beans, peas, and lentils are 8.79% higher in 2022 versus 2021 (a $0.44 difference in value).
Between 2021 and 2022: Beans experienced an average inflation rate of 8.79% per year. This rate of change indicates significant inflation. In other words, beans costing $5 in the year 2021 would cost $5.44 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 6.83% during this same period, inflation for beans was higher.
In the year 2021: Pricing changed by 3.90%, which is significantly below the average yearly change for beans during the 2021-2022 time period. Compared to inflation for all items in 2021 (4.70%), inflation for beans was lower.
Below are calculations of equivalent buying power for Beans, over time, for $5 beginning in 2021. 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: