According to the U.S. Bureau of Labor Statistics, prices for fats and oils were 0.41% lower in 2021 versus 2012 (a $0.08 difference in value).
Between 2012 and 2021: Fats and oils experienced an average inflation rate of -0.05% per year. In other words, fats and oils costing $20 in the year 2012 would cost $19.92 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.46% during this same period, inflation for fats and oils was lower.
In the year 2012: Pricing changed by 6.12%, which is significantly above the average yearly change for fats and oils during the 2012-2021 time period. Compared to inflation for all items in 2012 (2.07%), inflation for fats and oils was much higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Fats and oils:
Below are calculations of equivalent buying power for Fats and oils, over time, for $20 beginning in 2012. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|