According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 814.75% higher in 2023 versus 1967 (a $14,258,126.54 difference in value).
Between 1967 and 2023: Food and beverages experienced an average inflation rate of 4.03% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $1,750,000 in the year 1967 would cost $16,008,126.54 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 4.03% during this same period, inflation for food and beverages was higher.
Below are calculations of equivalent buying power for Food and beverages, over time, for $1,750,000 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 | $1,750,000.00 | - |
| 1968 | $1,813,489.45 | 3.63% |
| 1969 | $1,903,913.81 | 4.99% |
| 1970 | $2,007,420.84 | 5.44% |
| 1971 | $2,069,371.15 | 3.09% |
| 1972 | $2,154,793.32 | 4.13% |
| 1973 | $2,441,073.00 | 13.29% |
| 1974 | $2,776,989.89 | 13.76% |
| 1975 | $3,011,323.66 | 8.44% |
| 1976 | $3,104,441.51 | 3.09% |
| 1977 | $3,289,522.87 | 5.96% |
| 1978 | $3,610,817.94 | 9.77% |
| 1979 | $3,997,526.39 | 10.71% |
| 1980 | $4,339,599.82 | 8.56% |
| 1981 | $4,677,055.85 | 7.78% |
| 1982 | $4,867,524.19 | 4.07% |
| 1983 | $4,976,033.42 | 2.23% |
| 1984 | $5,163,038.70 | 3.76% |
| 1985 | $5,283,476.25 | 2.33% |
| 1986 | $5,455,859.72 | 3.26% |
| 1987 | $5,677,880.39 | 4.07% |
| 1988 | $5,912,214.16 | 4.13% |
| 1989 | $6,247,361.48 | 5.67% |
| 1990 | $6,607,135.00 | 5.76% |
| 1991 | $6,842,623.13 | 3.56% |
| 1992 | $6,937,280.12 | 1.38% |
| 1993 | $7,082,343.89 | 2.09% |
| 1994 | $7,247,031.66 | 2.33% |
| 1995 | $7,446,734.83 | 2.76% |
| 1996 | $7,688,764.29 | 3.25% |
| 1997 | $7,890,391.38 | 2.62% |
| 1998 | $8,058,157.43 | 2.13% |
| 1999 | $8,231,695.25 | 2.15% |
| 2000 | $8,421,778.80 | 2.31% |
| 2001 | $8,682,277.92 | 3.09% |
| 2002 | $8,841,963.50 | 1.84% |
| 2003 | $9,030,892.70 | 2.14% |
| 2004 | $9,335,642.04 | 3.37% |
| 2005 | $9,562,664.91 | 2.43% |
| 2006 | $9,786,994.28 | 2.35% |
| 2007 | $10,169,450.86 | 3.91% |
| 2008 | $10,715,971.86 | 5.37% |
| 2009 | $10,917,260.33 | 1.88% |
| 2010 | $11,004,036.94 | 0.79% |
| 2011 | $11,398,306.40 | 3.58% |
| 2012 | $11,688,630.17 | 2.55% |
| 2013 | $11,853,498.79 | 1.41% |
| 2014 | $12,127,757.81 | 2.31% |
| 2015 | $12,345,642.04 | 1.80% |
| 2016 | $12,388,079.93 | 0.34% |
| 2017 | $12,497,351.03 | 0.88% |
| 2018 | $12,672,889.73 | 1.40% |
| 2019 | $12,906,323.11 | 1.84% |
| 2020 | $13,337,097.08 | 3.34% |
| 2021 | $13,846,763.41 | 3.82% |
| 2022 | $15,172,615.44 | 9.58% |
| 2023 | $16,008,126.54 | 5.51%* |
* 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 |
| 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 | 320.022 |