Fats and oils priced at $20 in 2004 $36.93 in 2023

Fats And Oils Inflation Calculator

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Prices for Fats And Oils, 2004-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for fats and oils are 84.64% higher in 2023 versus 2004 (a $16.93 difference in value).

Between 2004 and 2023: Fats and oils experienced an average inflation rate of 3.28% per year. This rate of change indicates significant inflation. In other words, fats and oils costing $20 in the year 2004 would cost $36.93 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for fats and oils was higher.

In the year 2004: Pricing changed by 6.62%, which is significantly above the average yearly change for fats and oils during the 2004-2023 time period. Compared to inflation for all items in 2004 (2.68%), inflation for fats and oils was much higher.

Price Inflation for Fats and oils since 1967

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1974 (41.96%), 2022 (18.53%), and 2008 (13.78%).

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Buying power of $20.00 since 2004

Below are calculations of equivalent buying power for Fats and oils, over time, for $20 beginning in 2004. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2004$20.006.62%
2005$19.99-0.04%
2006$20.020.16%
2007$20.612.93%
2008$23.4513.78%
2009$23.982.27%
2010$23.91-0.32%
2011$26.129.26%
2012$27.726.12%
2013$27.33-1.40%
2014$27.370.15%
2015$27.09-1.03%
2016$26.93-0.59%
2017$27.140.78%
2018$27.180.14%
2019$26.99-0.71%
2020$27.351.34%
2021$28.614.62%
2022$33.9118.53%
2023$36.938.89%*

* 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:

Year196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023
CPI37.00836.68536.83839.15442.70043.15446.76266.38573.51564.28570.83177.55483.74689.26998.85496.06997.377106.562108.946106.492108.069113.115121.177126.331131.731129.838129.992133.531137.269140.515141.715146.908148.262147.415155.700155.438157.377167.792167.723167.992172.921196.751201.224200.587219.163232.579229.316229.658227.293225.947227.715228.035226.419229.455240.055284.530309.814

Adjust fats and oils prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2004 * 2004 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Fats and oils was 167.792 in the year 2004 and 309.814 in 2023:

309.814 / 167.792 * $20 = $36.93

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2004 has the same "purchasing power" as $36.93 in 2023 (in the CPI category of Fats and oils).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Fats and oils in 1967. In addition to fats and oils, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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