According to the U.S. Bureau of Labor Statistics, prices for fats and oils were 2.01% higher in 2021 versus 2014 (a $0.40 difference in value).
Between 2014 and 2021: Fats and oils experienced an average inflation rate of 0.28% per year. In other words, fats and oils costing $20 in the year 2014 would cost $20.40 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 1.69% during this same period, inflation for fats and oils was lower.
In the year 2014: Pricing changed by 0.15%, which is below the average yearly change for fats and oils during the 2014-2021 time period. Compared to inflation for all items in 2014 (1.62%), inflation for fats and oils was lower.
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 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|