According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 830.10% higher in 2024 versus 1967 (a $68,813,842,427.57 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 $8,289,808,707 in the year 1967 would cost $77,103,651,134.57 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.00% 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 $8,289,808,707 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 | $8,289,808,707.00 | - |
1968 | $8,590,560,342.15 | 3.63% |
1969 | $9,018,903,580.09 | 4.99% |
1970 | $9,509,219,882.24 | 5.44% |
1971 | $9,802,680,568.66 | 3.09% |
1972 | $10,207,328,223.22 | 4.13% |
1973 | $11,563,444,687.16 | 13.29% |
1974 | $13,154,694,247.67 | 13.76% |
1975 | $14,264,741,191.95 | 8.44% |
1976 | $14,705,843,590.17 | 3.09% |
1977 | $15,582,580,175.05 | 5.96% |
1978 | $17,104,565,722.62 | 9.77% |
1979 | $18,936,416,591.25 | 10.71% |
1980 | $20,556,829,946.69 | 8.56% |
1981 | $22,155,370,455.93 | 7.78% |
1982 | $23,057,625,361.38 | 4.07% |
1983 | $23,571,637,246.91 | 2.23% |
1984 | $24,457,487,517.71 | 3.76% |
1985 | $25,028,004,255.90 | 2.33% |
1986 | $25,844,590,513.75 | 3.26% |
1987 | $26,896,309,868.18 | 4.07% |
1988 | $28,006,356,812.46 | 4.13% |
1989 | $29,593,960,898.60 | 5.67% |
1990 | $31,298,220,164.45 | 5.76% |
1991 | $32,413,735,320.27 | 3.56% |
1992 | $32,862,128,667.22 | 1.38% |
1993 | $33,549,300,585.10 | 2.09% |
1994 | $34,329,432,099.30 | 2.33% |
1995 | $35,275,432,697.14 | 2.76% |
1996 | $36,421,934,385.06 | 3.25% |
1997 | $37,377,048,668.81 | 2.62% |
1998 | $38,171,762,080.47 | 2.13% |
1999 | $38,993,816,549.88 | 2.15% |
2000 | $39,894,248,718.14 | 2.31% |
2001 | $41,128,241,790.84 | 3.09% |
2002 | $41,884,677,721.67 | 1.84% |
2003 | $42,779,641,678.38 | 2.14% |
2004 | $44,223,249,527.10 | 3.37% |
2005 | $45,298,664,464.90 | 2.43% |
2006 | $46,361,320,242.42 | 2.35% |
2007 | $48,173,029,865.19 | 3.91% |
2008 | $50,761,918,167.92 | 5.37% |
2009 | $51,715,428,442.94 | 1.88% |
2010 | $52,126,492,132.39 | 0.79% |
2011 | $53,994,159,786.66 | 3.58% |
2012 | $55,369,433,218.39 | 2.55% |
2013 | $56,150,421,419.07 | 1.41% |
2014 | $57,449,595,573.42 | 2.31% |
2015 | $58,481,720,503.14 | 1.80% |
2016 | $58,682,750,187.02 | 0.34% |
2017 | $59,200,371,092.17 | 0.88% |
2018 | $60,031,903,794.92 | 1.40% |
2019 | $61,137,685,534.19 | 1.84% |
2020 | $63,178,276,264.99 | 3.34% |
2021 | $65,592,582,800.35 | 3.82% |
2022 | $71,873,188,310.84 | 9.58% |
2023 | $75,941,464,793.18 | 5.66% |
2024 | $77,103,651,134.57 | 1.53%* |
* 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 | 325.392 |