According to the U.S. Bureau of Labor Statistics, prices for fats and oils are 366.69% higher in 2023 versus 1974 (a $73.34 difference in value).
Between 1974 and 2023: Fats and oils experienced an average inflation rate of 3.19% per year. This rate of change indicates significant inflation. In other words, fats and oils costing $20 in the year 1974 would cost $93.34 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.78% during this same period, inflation for fats and oils was lower.
In the year 1974: Pricing changed by 41.96%, which is significantly above the average yearly change for fats and oils during the 1974-2023 time period. Compared to inflation for all items in 1974 (11.05%), 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 1974. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1974 | $20.00 | 41.96% |
| 1975 | $22.15 | 10.74% |
| 1976 | $19.37 | -12.56% |
| 1977 | $21.34 | 10.18% |
| 1978 | $23.37 | 9.49% |
| 1979 | $25.23 | 7.98% |
| 1980 | $26.89 | 6.60% |
| 1981 | $29.78 | 10.74% |
| 1982 | $28.94 | -2.82% |
| 1983 | $29.34 | 1.36% |
| 1984 | $32.10 | 9.43% |
| 1985 | $32.82 | 2.24% |
| 1986 | $32.08 | -2.25% |
| 1987 | $32.56 | 1.48% |
| 1988 | $34.08 | 4.67% |
| 1989 | $36.51 | 7.13% |
| 1990 | $38.06 | 4.25% |
| 1991 | $39.69 | 4.27% |
| 1992 | $39.12 | -1.44% |
| 1993 | $39.16 | 0.12% |
| 1994 | $40.23 | 2.72% |
| 1995 | $41.36 | 2.80% |
| 1996 | $42.33 | 2.36% |
| 1997 | $42.70 | 0.85% |
| 1998 | $44.26 | 3.66% |
| 1999 | $44.67 | 0.92% |
| 2000 | $44.41 | -0.57% |
| 2001 | $46.91 | 5.62% |
| 2002 | $46.83 | -0.17% |
| 2003 | $47.41 | 1.25% |
| 2004 | $50.55 | 6.62% |
| 2005 | $50.53 | -0.04% |
| 2006 | $50.61 | 0.16% |
| 2007 | $52.10 | 2.93% |
| 2008 | $59.28 | 13.78% |
| 2009 | $60.62 | 2.27% |
| 2010 | $60.43 | -0.32% |
| 2011 | $66.03 | 9.26% |
| 2012 | $70.07 | 6.12% |
| 2013 | $69.09 | -1.40% |
| 2014 | $69.19 | 0.15% |
| 2015 | $68.48 | -1.03% |
| 2016 | $68.07 | -0.59% |
| 2017 | $68.60 | 0.78% |
| 2018 | $68.70 | 0.14% |
| 2019 | $68.21 | -0.71% |
| 2020 | $69.13 | 1.34% |
| 2021 | $72.32 | 4.62% |
| 2022 | $85.72 | 18.53% |
| 2023 | $93.34 | 8.89%* |
* 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 |
| 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 | 309.814 |