According to the U.S. Bureau of Labor Statistics, prices for fats and oils were 1.55% higher in 2020 versus 2016 (a $0.31 difference in value).
Between 2016 and 2020: Fats and oils experienced an average inflation rate of 0.39% per year. In other words, fats and oils costing $20 in the year 2016 would cost $20.31 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.85% during this same period, inflation for fats and oils was lower.
In the year 2016: Pricing changed by -0.59%, which is below the average yearly change for fats and oils during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), 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 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|