According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 829.42% higher in 2024 versus 1967 (a $51,424,096,892.41 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 $6,200,000,000 in the year 1967 would cost $57,624,096,892.41 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.99% 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 $6,200,000,000 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 | $6,200,000,000.00 | - |
1968 | $6,424,934,036.94 | 3.63% |
1969 | $6,745,294,635.00 | 4.99% |
1970 | $7,112,005,277.04 | 5.44% |
1971 | $7,331,486,367.63 | 3.09% |
1972 | $7,634,124,890.06 | 4.13% |
1973 | $8,648,372,911.17 | 13.29% |
1974 | $9,838,478,452.07 | 13.76% |
1975 | $10,668,689,533.86 | 8.44% |
1976 | $10,998,592,788.04 | 3.09% |
1977 | $11,654,309,586.63 | 5.96% |
1978 | $12,792,612,137.20 | 9.77% |
1979 | $14,162,664,907.65 | 10.71% |
1980 | $15,374,582,233.95 | 8.56% |
1981 | $16,570,140,721.20 | 7.78% |
1982 | $17,244,942,832.01 | 4.07% |
1983 | $17,629,375,549.69 | 2.23% |
1984 | $18,291,908,531.22 | 3.76% |
1985 | $18,718,601,583.11 | 2.33% |
1986 | $19,329,331,574.32 | 3.26% |
1987 | $20,115,919,085.31 | 4.07% |
1988 | $20,946,130,167.11 | 4.13% |
1989 | $22,133,509,234.83 | 5.67% |
1990 | $23,408,135,444.15 | 5.76% |
1991 | $24,242,436,235.71 | 3.56% |
1992 | $24,577,792,436.24 | 1.38% |
1993 | $25,091,732,629.73 | 2.09% |
1994 | $25,675,197,889.18 | 2.33% |
1995 | $26,382,717,678.10 | 2.76% |
1996 | $27,240,193,491.64 | 3.25% |
1997 | $27,954,529,463.50 | 2.62% |
1998 | $28,548,900,615.66 | 2.13% |
1999 | $29,163,720,316.62 | 2.15% |
2000 | $29,837,159,190.85 | 2.31% |
2001 | $30,760,070,360.60 | 3.09% |
2002 | $31,325,813,544.42 | 1.84% |
2003 | $31,995,162,708.88 | 2.14% |
2004 | $33,074,846,086.19 | 3.37% |
2005 | $33,879,155,672.82 | 2.43% |
2006 | $34,673,922,603.34 | 2.35% |
2007 | $36,028,911,609.50 | 3.91% |
2008 | $37,965,157,431.84 | 5.37% |
2009 | $38,678,293,755.50 | 1.88% |
2010 | $38,985,730,870.71 | 0.79% |
2011 | $40,382,571,240.11 | 3.58% |
2012 | $41,411,146,877.75 | 2.55% |
2013 | $41,995,252,858.40 | 1.41% |
2014 | $42,966,913,368.51 | 2.31% |
2015 | $43,738,846,086.19 | 1.80% |
2016 | $43,889,197,449.43 | 0.34% |
2017 | $44,276,329,375.55 | 0.88% |
2018 | $44,898,237,906.77 | 1.40% |
2019 | $45,725,259,014.95 | 1.84% |
2020 | $47,251,429,639.40 | 3.34% |
2021 | $49,057,104,661.39 | 3.82% |
2022 | $53,754,408,970.98 | 9.58% |
2023 | $56,797,098,504.84 | 5.66% |
2024 | $57,624,096,892.41 | 1.46%* |
* 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 | 325.154 |