According to the U.S. Bureau of Labor Statistics, prices for fats and oils are 644.91% higher in 2024 versus 1971 (a $128.98 difference in value).
Between 1971 and 2024: Fats and oils experienced an average inflation rate of 3.86% per year. This rate of change indicates significant inflation. In other words, fats and oils costing $20 in the year 1971 would cost $148.98 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.94% during this same period, inflation for fats and oils was lower.
In the year 1971: Pricing changed by 9.06%, which is significantly above the average yearly change for fats and oils during the 1971-2024 time period. Compared to inflation for all items in 1971 (4.30%), inflation for fats and oils was much higher.
Below are calculations of equivalent buying power for Fats and oils, over time, for $20 beginning in 1971. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1971 | $20.00 | 9.06% |
| 1972 | $20.21 | 1.06% |
| 1973 | $21.90 | 8.36% |
| 1974 | $31.09 | 41.96% |
| 1975 | $34.43 | 10.74% |
| 1976 | $30.11 | -12.56% |
| 1977 | $33.18 | 10.18% |
| 1978 | $36.32 | 9.49% |
| 1979 | $39.23 | 7.98% |
| 1980 | $41.81 | 6.60% |
| 1981 | $46.30 | 10.74% |
| 1982 | $45.00 | -2.82% |
| 1983 | $45.61 | 1.36% |
| 1984 | $49.91 | 9.43% |
| 1985 | $51.03 | 2.24% |
| 1986 | $49.88 | -2.25% |
| 1987 | $50.62 | 1.48% |
| 1988 | $52.98 | 4.67% |
| 1989 | $56.76 | 7.13% |
| 1990 | $59.17 | 4.25% |
| 1991 | $61.70 | 4.27% |
| 1992 | $60.81 | -1.44% |
| 1993 | $60.89 | 0.12% |
| 1994 | $62.54 | 2.72% |
| 1995 | $64.29 | 2.80% |
| 1996 | $65.82 | 2.36% |
| 1997 | $66.38 | 0.85% |
| 1998 | $68.81 | 3.66% |
| 1999 | $69.44 | 0.92% |
| 2000 | $69.05 | -0.57% |
| 2001 | $72.93 | 5.62% |
| 2002 | $72.80 | -0.17% |
| 2003 | $73.71 | 1.25% |
| 2004 | $78.59 | 6.62% |
| 2005 | $78.56 | -0.04% |
| 2006 | $78.68 | 0.16% |
| 2007 | $80.99 | 2.93% |
| 2008 | $92.15 | 13.78% |
| 2009 | $94.25 | 2.27% |
| 2010 | $93.95 | -0.32% |
| 2011 | $102.65 | 9.26% |
| 2012 | $108.94 | 6.12% |
| 2013 | $107.41 | -1.40% |
| 2014 | $107.57 | 0.15% |
| 2015 | $106.46 | -1.03% |
| 2016 | $105.83 | -0.59% |
| 2017 | $106.66 | 0.78% |
| 2018 | $106.81 | 0.14% |
| 2019 | $106.05 | -0.71% |
| 2020 | $107.47 | 1.34% |
| 2021 | $112.44 | 4.62% |
| 2022 | $133.27 | 18.53% |
| 2023 | $145.23 | 8.98% |
| 2024 | $148.98 | 2.58%* |
* 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 Fats and oils:
| Year | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 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 | 37.008 | 36.685 | 36.838 | 39.154 | 42.700 | 43.154 | 46.762 | 66.385 | 73.515 | 64.285 | 70.831 | 77.554 | 83.746 | 89.269 | 98.854 | 96.069 | 97.377 | 106.562 | 108.946 | 106.492 | 108.069 | 113.115 | 121.177 | 126.331 | 131.731 | 129.838 | 129.992 | 133.531 | 137.269 | 140.515 | 141.715 | 146.908 | 148.262 | 147.415 | 155.700 | 155.438 | 157.377 | 167.792 | 167.723 | 167.992 | 172.921 | 196.751 | 201.224 | 200.587 | 219.163 | 232.579 | 229.316 | 229.658 | 227.293 | 225.947 | 227.715 | 228.035 | 226.419 | 229.455 | 240.055 | 284.530 | 310.076 | 318.076 |