According to the U.S. Bureau of Labor Statistics, prices for fats and oils are 123.46% higher in 2024 versus 1997 (a $24.69 difference in value).
Between 1997 and 2024: Fats and oils experienced an average inflation rate of 3.02% per year. This rate of change indicates significant inflation. In other words, fats and oils costing $20 in the year 1997 would cost $44.69 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.49% during this same period, inflation for fats and oils was higher.
In the year 1997: Pricing changed by 0.85%, which is below the average yearly change for fats and oils during the 1997-2024 time period. Compared to inflation for all items in 1997 (2.33%), inflation for fats and oils was lower.
Below are calculations of equivalent buying power for Fats and oils, over time, for $20 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1997 | $20.00 | 0.85% |
| 1998 | $20.73 | 3.66% |
| 1999 | $20.92 | 0.92% |
| 2000 | $20.80 | -0.57% |
| 2001 | $21.97 | 5.62% |
| 2002 | $21.94 | -0.17% |
| 2003 | $22.21 | 1.25% |
| 2004 | $23.68 | 6.62% |
| 2005 | $23.67 | -0.04% |
| 2006 | $23.71 | 0.16% |
| 2007 | $24.40 | 2.93% |
| 2008 | $27.77 | 13.78% |
| 2009 | $28.40 | 2.27% |
| 2010 | $28.31 | -0.32% |
| 2011 | $30.93 | 9.26% |
| 2012 | $32.82 | 6.12% |
| 2013 | $32.36 | -1.40% |
| 2014 | $32.41 | 0.15% |
| 2015 | $32.08 | -1.03% |
| 2016 | $31.89 | -0.59% |
| 2017 | $32.14 | 0.78% |
| 2018 | $32.18 | 0.14% |
| 2019 | $31.95 | -0.71% |
| 2020 | $32.38 | 1.34% |
| 2021 | $33.88 | 4.62% |
| 2022 | $40.16 | 18.53% |
| 2023 | $43.76 | 8.98% |
| 2024 | $44.69 | 2.13%* |
* 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 | 316.683 |