According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 833.99% higher in 2024 versus 1967 (a $16,679,880.78 difference in value).
Between 1967 and 2024: Food and beverages experienced an average inflation rate of 4% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $2,000,000 in the year 1967 would cost $18,679,880.78 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.01% during this same period, inflation for food and beverages was lower.
Below are calculations of equivalent buying power for Food and beverages, over time, for $2,000,000 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 | $2,000,000.00 | - |
1968 | $2,072,559.37 | 3.63% |
1969 | $2,175,901.50 | 4.99% |
1970 | $2,294,195.25 | 5.44% |
1971 | $2,364,995.60 | 3.09% |
1972 | $2,462,620.93 | 4.13% |
1973 | $2,789,797.71 | 13.29% |
1974 | $3,173,702.73 | 13.76% |
1975 | $3,441,512.75 | 8.44% |
1976 | $3,547,933.16 | 3.09% |
1977 | $3,759,454.71 | 5.96% |
1978 | $4,126,649.08 | 9.77% |
1979 | $4,568,601.58 | 10.71% |
1980 | $4,959,542.66 | 8.56% |
1981 | $5,345,206.68 | 7.78% |
1982 | $5,562,884.78 | 4.07% |
1983 | $5,686,895.34 | 2.23% |
1984 | $5,900,615.66 | 3.76% |
1985 | $6,038,258.58 | 2.33% |
1986 | $6,235,268.25 | 3.26% |
1987 | $6,489,006.16 | 4.07% |
1988 | $6,756,816.18 | 4.13% |
1989 | $7,139,841.69 | 5.67% |
1990 | $7,551,011.43 | 5.76% |
1991 | $7,820,140.72 | 3.56% |
1992 | $7,928,320.14 | 1.38% |
1993 | $8,094,107.30 | 2.09% |
1994 | $8,282,321.90 | 2.33% |
1995 | $8,510,554.09 | 2.76% |
1996 | $8,787,159.19 | 3.25% |
1997 | $9,017,590.15 | 2.62% |
1998 | $9,209,322.78 | 2.13% |
1999 | $9,407,651.72 | 2.15% |
2000 | $9,624,890.06 | 2.31% |
2001 | $9,922,603.34 | 3.09% |
2002 | $10,105,101.14 | 1.84% |
2003 | $10,321,020.23 | 2.14% |
2004 | $10,669,305.19 | 3.37% |
2005 | $10,928,759.89 | 2.43% |
2006 | $11,185,136.32 | 2.35% |
2007 | $11,622,229.55 | 3.91% |
2008 | $12,246,824.98 | 5.37% |
2009 | $12,476,868.95 | 1.88% |
2010 | $12,576,042.22 | 0.79% |
2011 | $13,026,635.88 | 3.58% |
2012 | $13,358,434.48 | 2.55% |
2013 | $13,546,855.76 | 1.41% |
2014 | $13,860,294.64 | 2.31% |
2015 | $14,109,305.19 | 1.80% |
2016 | $14,157,805.63 | 0.34% |
2017 | $14,282,686.90 | 0.88% |
2018 | $14,483,302.55 | 1.40% |
2019 | $14,750,083.55 | 1.84% |
2020 | $15,242,396.66 | 3.34% |
2021 | $15,824,872.47 | 3.82% |
2022 | $17,340,131.93 | 9.58% |
2023 | $18,321,644.68 | 5.66% |
2024 | $18,679,880.78 | 1.96%* |
* 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 | 326.754 |