According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 833.04% higher in 2024 versus 1967 (a $8,247,122.02 difference in value).
Between 1967 and 2024: Food and beverages experienced an average inflation rate of 4% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $990,000 in the year 1967 would cost $9,237,122.02 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 $990,000 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 | $990,000.00 | - |
1968 | $1,025,916.89 | 3.63% |
1969 | $1,077,071.24 | 4.99% |
1970 | $1,135,626.65 | 5.44% |
1971 | $1,170,672.82 | 3.09% |
1972 | $1,218,997.36 | 4.13% |
1973 | $1,380,949.87 | 13.29% |
1974 | $1,570,982.85 | 13.76% |
1975 | $1,703,548.81 | 8.44% |
1976 | $1,756,226.91 | 3.09% |
1977 | $1,860,930.08 | 5.96% |
1978 | $2,042,691.29 | 9.77% |
1979 | $2,261,457.78 | 10.71% |
1980 | $2,454,973.61 | 8.56% |
1981 | $2,645,877.31 | 7.78% |
1982 | $2,753,627.97 | 4.07% |
1983 | $2,815,013.19 | 2.23% |
1984 | $2,920,804.75 | 3.76% |
1985 | $2,988,937.99 | 2.33% |
1986 | $3,086,457.78 | 3.26% |
1987 | $3,212,058.05 | 4.07% |
1988 | $3,344,624.01 | 4.13% |
1989 | $3,534,221.64 | 5.67% |
1990 | $3,737,750.66 | 5.76% |
1991 | $3,870,969.66 | 3.56% |
1992 | $3,924,518.47 | 1.38% |
1993 | $4,006,583.11 | 2.09% |
1994 | $4,099,749.34 | 2.33% |
1995 | $4,212,724.27 | 2.76% |
1996 | $4,349,643.80 | 3.25% |
1997 | $4,463,707.12 | 2.62% |
1998 | $4,558,614.78 | 2.13% |
1999 | $4,656,787.60 | 2.15% |
2000 | $4,764,320.58 | 2.31% |
2001 | $4,911,688.65 | 3.09% |
2002 | $5,002,025.07 | 1.84% |
2003 | $5,108,905.01 | 2.14% |
2004 | $5,281,306.07 | 3.37% |
2005 | $5,409,736.15 | 2.43% |
2006 | $5,536,642.48 | 2.35% |
2007 | $5,753,003.63 | 3.91% |
2008 | $6,062,178.36 | 5.37% |
2009 | $6,176,050.13 | 1.88% |
2010 | $6,225,140.90 | 0.79% |
2011 | $6,448,184.76 | 3.58% |
2012 | $6,612,425.07 | 2.55% |
2013 | $6,705,693.60 | 1.41% |
2014 | $6,860,845.84 | 2.31% |
2015 | $6,984,106.07 | 1.80% |
2016 | $7,008,113.79 | 0.34% |
2017 | $7,069,930.01 | 0.88% |
2018 | $7,169,234.76 | 1.40% |
2019 | $7,301,291.36 | 1.84% |
2020 | $7,544,986.35 | 3.34% |
2021 | $7,833,311.87 | 3.82% |
2022 | $8,583,365.30 | 9.58% |
2023 | $9,069,214.12 | 5.66% |
2024 | $9,237,122.02 | 1.85%* |
* 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 | 326.421 |