According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 828.94% higher in 2024 versus 1967 (a $21,966,903,474.05 difference in value).
Between 1967 and 2024: Food and beverages experienced an average inflation rate of 3.99% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $2,650,000,000 in the year 1967 would cost $24,616,903,474.05 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.98% during this same period, inflation for food and beverages was higher.
Below are calculations of equivalent buying power for Food and beverages, over time, for $2,650,000,000 beginning in 1967. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1967 | $2,650,000,000.00 | - |
1968 | $2,746,141,160.95 | 3.63% |
1969 | $2,883,069,481.09 | 4.99% |
1970 | $3,039,808,707.12 | 5.44% |
1971 | $3,133,619,173.26 | 3.09% |
1972 | $3,262,972,735.27 | 4.13% |
1973 | $3,696,481,970.10 | 13.29% |
1974 | $4,205,156,112.58 | 13.76% |
1975 | $4,560,004,397.54 | 8.44% |
1976 | $4,701,011,433.60 | 3.09% |
1977 | $4,981,277,484.61 | 5.96% |
1978 | $5,467,810,026.39 | 9.77% |
1979 | $6,053,397,097.63 | 10.71% |
1980 | $6,571,394,019.35 | 8.56% |
1981 | $7,082,398,856.64 | 7.78% |
1982 | $7,370,822,339.49 | 4.07% |
1983 | $7,535,136,323.66 | 2.23% |
1984 | $7,818,315,743.18 | 3.76% |
1985 | $8,000,692,612.14 | 2.33% |
1986 | $8,261,730,430.96 | 3.26% |
1987 | $8,597,933,157.43 | 4.07% |
1988 | $8,952,781,442.39 | 4.13% |
1989 | $9,460,290,237.47 | 5.67% |
1990 | $10,005,090,149.52 | 5.76% |
1991 | $10,361,686,455.58 | 3.56% |
1992 | $10,505,024,186.46 | 1.38% |
1993 | $10,724,692,172.38 | 2.09% |
1994 | $10,974,076,517.15 | 2.33% |
1995 | $11,276,484,168.87 | 2.76% |
1996 | $11,642,985,927.88 | 3.25% |
1997 | $11,948,306,948.11 | 2.62% |
1998 | $12,202,352,682.50 | 2.13% |
1999 | $12,465,138,522.43 | 2.15% |
2000 | $12,752,979,331.57 | 2.31% |
2001 | $13,147,449,428.32 | 3.09% |
2002 | $13,389,259,014.95 | 1.84% |
2003 | $13,675,351,802.99 | 2.14% |
2004 | $14,136,829,375.55 | 3.37% |
2005 | $14,480,606,860.16 | 2.43% |
2006 | $14,820,305,628.85 | 2.35% |
2007 | $15,399,454,155.67 | 3.91% |
2008 | $16,227,043,095.87 | 5.37% |
2009 | $16,531,851,363.24 | 1.88% |
2010 | $16,663,255,936.68 | 0.79% |
2011 | $17,260,292,546.17 | 3.58% |
2012 | $17,699,925,681.62 | 2.55% |
2013 | $17,949,583,883.03 | 1.41% |
2014 | $18,364,890,391.38 | 2.31% |
2015 | $18,694,829,375.55 | 1.80% |
2016 | $18,759,092,458.22 | 0.34% |
2017 | $18,924,560,136.32 | 0.88% |
2018 | $19,190,375,879.51 | 1.40% |
2019 | $19,543,860,708.00 | 1.84% |
2020 | $20,196,175,571.68 | 3.34% |
2021 | $20,967,956,024.63 | 3.82% |
2022 | $22,975,674,802.11 | 9.58% |
2023 | $24,276,179,199.65 | 5.66% |
2024 | $24,616,903,474.05 | 1.40%* |
* 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 Food and beverages:
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 | 34.985 | 36.254 | 38.062 | 40.131 | 41.369 | 43.077 | 48.800 | 55.515 | 60.200 | 62.062 | 65.762 | 72.185 | 79.915 | 86.754 | 93.500 | 97.308 | 99.477 | 103.215 | 105.623 | 109.069 | 113.508 | 118.192 | 124.892 | 132.085 | 136.792 | 138.685 | 141.585 | 144.877 | 148.869 | 153.708 | 157.738 | 161.092 | 164.562 | 168.362 | 173.569 | 176.762 | 180.538 | 186.631 | 191.169 | 195.654 | 203.300 | 214.225 | 218.249 | 219.984 | 227.866 | 233.670 | 236.966 | 242.449 | 246.804 | 247.653 | 249.837 | 253.346 | 258.013 | 266.625 | 276.814 | 303.319 | 320.488 | 324.986 |