According to the U.S. Bureau of Labor Statistics, prices for food and beverages were 673.29% higher in 2021 versus 1967 (a $4,847,693.64 difference in value).
Between 1967 and 2021: Food and beverages experienced an average inflation rate of 3.86% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $720,000 in the year 1967 would cost $5,567,693.64 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.90% during this same period, inflation for food and beverages was lower.
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 |
| CPI | 34.992 | 36.233 | 38.050 | 40.125 | 41.375 | 43.075 | 48.800 | 55.508 | 60.192 | 62.075 | 65.767 | 72.183 | 79.933 | 86.750 | 93.517 | 97.300 | 99.475 | 103.217 | 105.583 | 109.058 | 113.550 | 118.183 | 124.908 | 132.075 | 136.767 | 138.675 | 141.608 | 144.858 | 148.867 | 153.675 | 157.742 | 161.100 | 164.550 | 168.350 | 173.583 | 176.750 | 180.542 | 186.642 | 191.183 | 195.667 | 203.303 | 214.232 | 218.249 | 219.982 | 227.866 | 233.657 | 236.958 | 242.444 | 246.804 | 247.656 | 249.846 | 253.356 | 258.022 | 266.626 | 270.587 |
Below are calculations of equivalent buying power for Food and beverages, over time, for $720000 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 | $720,000.00 | - |
| 1968 | $745,548.94 | 3.55% |
| 1969 | $782,929.27 | 5.01% |
| 1970 | $825,625.15 | 5.45% |
| 1971 | $851,345.56 | 3.12% |
| 1972 | $886,325.32 | 4.11% |
| 1973 | $1,004,124.79 | 13.29% |
| 1974 | $1,142,157.66 | 13.75% |
| 1975 | $1,238,523.46 | 8.44% |
| 1976 | $1,277,275.54 | 3.13% |
| 1977 | $1,353,236.48 | 5.95% |
| 1978 | $1,485,267.92 | 9.76% |
| 1979 | $1,644,734.46 | 10.74% |
| 1980 | $1,784,996.43 | 8.53% |
| 1981 | $1,924,229.58 | 7.80% |
| 1982 | $2,002,076.68 | 4.05% |
| 1983 | $2,046,830.20 | 2.24% |
| 1984 | $2,123,819.96 | 3.76% |
| 1985 | $2,172,517.27 | 2.29% |
| 1986 | $2,244,020.00 | 3.29% |
| 1987 | $2,336,442.01 | 4.12% |
| 1988 | $2,431,778.99 | 4.08% |
| 1989 | $2,570,154.80 | 5.69% |
| 1990 | $2,717,618.48 | 5.74% |
| 1991 | $2,814,155.75 | 3.55% |
| 1992 | $2,853,422.24 | 1.40% |
| 1993 | $2,913,779.47 | 2.12% |
| 1994 | $2,980,652.54 | 2.30% |
| 1995 | $3,063,129.32 | 2.77% |
| 1996 | $3,162,067.16 | 3.23% |
| 1997 | $3,245,744.22 | 2.65% |
| 1998 | $3,314,846.39 | 2.13% |
| 1999 | $3,385,834.72 | 2.14% |
| 2000 | $3,464,024.77 | 2.31% |
| 2001 | $3,571,707.55 | 3.11% |
| 2002 | $3,636,865.92 | 1.82% |
| 2003 | $3,714,884.50 | 2.15% |
| 2004 | $3,840,400.10 | 3.38% |
| 2005 | $3,933,850.92 | 2.43% |
| 2006 | $4,026,101.45 | 2.35% |
| 2007 | $4,183,237.72 | 3.90% |
| 2008 | $4,408,107.84 | 5.38% |
| 2009 | $4,490,756.08 | 1.87% |
| 2010 | $4,526,423.43 | 0.79% |
| 2011 | $4,688,640.34 | 3.58% |
| 2012 | $4,807,799.57 | 2.54% |
| 2013 | $4,875,716.88 | 1.41% |
| 2014 | $4,988,615.77 | 2.32% |
| 2015 | $5,078,328.55 | 1.80% |
| 2016 | $5,095,856.16 | 0.35% |
| 2017 | $5,140,906.31 | 0.88% |
| 2018 | $5,213,142.94 | 1.41% |
| 2019 | $5,309,140.08 | 1.84% |
| 2020 | $5,486,178.80 | 3.33% |
| 2021 | $5,567,693.64 | 1.49%* |