According to the U.S. Bureau of Labor Statistics, prices for food and beverages were 676.27% higher in 2021 versus 1967 (a $3,922,364.78 difference in value).
Between 1967 and 2021: Food and beverages experienced an average inflation rate of 3.87% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $580,000 in the year 1967 would cost $4,502,364.78 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.91% 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 | 34.985 | 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 | 271.575 |
Below are calculations of equivalent buying power for Food and beverages, over time, for $580000 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 | $580,000.00 | - |
| 1968 | $601,042.22 | 3.63% |
| 1969 | $631,011.43 | 4.99% |
| 1970 | $665,316.62 | 5.44% |
| 1971 | $685,848.72 | 3.09% |
| 1972 | $714,160.07 | 4.13% |
| 1973 | $809,041.34 | 13.29% |
| 1974 | $920,373.79 | 13.76% |
| 1975 | $998,038.70 | 8.44% |
| 1976 | $1,028,900.62 | 3.09% |
| 1977 | $1,090,241.86 | 5.96% |
| 1978 | $1,196,728.23 | 9.77% |
| 1979 | $1,324,894.46 | 10.71% |
| 1980 | $1,438,267.37 | 8.56% |
| 1981 | $1,550,109.94 | 7.78% |
| 1982 | $1,613,236.59 | 4.07% |
| 1983 | $1,649,199.65 | 2.23% |
| 1984 | $1,711,178.54 | 3.76% |
| 1985 | $1,751,094.99 | 2.33% |
| 1986 | $1,808,227.79 | 3.26% |
| 1987 | $1,881,811.79 | 4.07% |
| 1988 | $1,959,476.69 | 4.13% |
| 1989 | $2,070,554.09 | 5.67% |
| 1990 | $2,189,793.32 | 5.76% |
| 1991 | $2,267,840.81 | 3.56% |
| 1992 | $2,299,212.84 | 1.38% |
| 1993 | $2,347,291.12 | 2.09% |
| 1994 | $2,401,873.35 | 2.33% |
| 1995 | $2,468,060.69 | 2.76% |
| 1996 | $2,548,276.17 | 3.25% |
| 1997 | $2,615,101.14 | 2.62% |
| 1998 | $2,670,703.61 | 2.13% |
| 1999 | $2,728,219.00 | 2.15% |
| 2000 | $2,791,218.12 | 2.31% |
| 2001 | $2,877,554.97 | 3.09% |
| 2002 | $2,930,479.33 | 1.84% |
| 2003 | $2,993,095.87 | 2.14% |
| 2004 | $3,094,098.50 | 3.37% |
| 2005 | $3,169,340.37 | 2.43% |
| 2006 | $3,243,689.53 | 2.35% |
| 2007 | $3,370,446.57 | 3.91% |
| 2008 | $3,551,579.24 | 5.37% |
| 2009 | $3,618,292.00 | 1.88% |
| 2010 | $3,647,052.24 | 0.79% |
| 2011 | $3,777,724.41 | 3.58% |
| 2012 | $3,873,946.00 | 2.55% |
| 2013 | $3,928,588.17 | 1.41% |
| 2014 | $4,019,485.44 | 2.31% |
| 2015 | $4,091,698.50 | 1.80% |
| 2016 | $4,105,763.63 | 0.34% |
| 2017 | $4,141,979.20 | 0.88% |
| 2018 | $4,200,157.74 | 1.40% |
| 2019 | $4,277,524.23 | 1.84% |
| 2020 | $4,420,295.03 | 3.34% |
| 2021 | $4,502,364.78 | 1.86%* |