Food and beverages priced at $20 in 1970 $162.41 in 2024

Food And Beverages Inflation Calculator

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Prices for Food And Beverages, 1970-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 712.04% higher in 2024 versus 1970 (a $142.41 difference in value).

Between 1970 and 2024: Food and beverages experienced an average inflation rate of 3.95% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $20 in the year 1970 would cost $162.41 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.94% during this same period, inflation for food and beverages was higher.

In the year 1970: Pricing changed by 5.44%, which is above the average yearly change for food and beverages during the 1970-2024 time period. Compared to inflation for all items in 1970 (5.83%), inflation for food and beverages was lower.

Price Inflation for Food and beverages since 1967

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1974 (13.76%), 1973 (13.29%), and 1979 (10.71%).

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Buying power of $20.00 since 1970

Below are calculations of equivalent buying power for Food and beverages, over time, for $20 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1970$20.005.44%
1971$20.623.09%
1972$21.474.13%
1973$24.3213.29%
1974$27.6713.76%
1975$30.008.44%
1976$30.933.09%
1977$32.775.96%
1978$35.979.77%
1979$39.8310.71%
1980$43.248.56%
1981$46.607.78%
1982$48.504.07%
1983$49.582.23%
1984$51.443.76%
1985$52.642.33%
1986$54.363.26%
1987$56.574.07%
1988$58.904.13%
1989$62.245.67%
1990$65.835.76%
1991$68.173.56%
1992$69.121.38%
1993$70.562.09%
1994$72.202.33%
1995$74.192.76%
1996$76.603.25%
1997$78.612.62%
1998$80.282.13%
1999$82.012.15%
2000$83.912.31%
2001$86.503.09%
2002$88.091.84%
2003$89.982.14%
2004$93.013.37%
2005$95.272.43%
2006$97.512.35%
2007$101.323.91%
2008$106.765.37%
2009$108.771.88%
2010$109.630.79%
2011$113.563.58%
2012$116.452.55%
2013$118.101.41%
2014$120.832.31%
2015$123.001.80%
2016$123.420.34%
2017$124.510.88%
2018$126.261.40%
2019$128.591.84%
2020$132.883.34%
2021$137.963.82%
2022$151.179.58%
2023$159.725.66%
2024$162.411.68%*

* 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:

Year1967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI34.98536.25438.06240.13141.36943.07748.80055.51560.20062.06265.76272.18579.91586.75493.50097.30899.477103.215105.623109.069113.508118.192124.892132.085136.792138.685141.585144.877148.869153.708157.738161.092164.562168.362173.569176.762180.538186.631191.169195.654203.300214.225218.249219.984227.866233.670236.966242.449246.804247.653249.837253.346258.013266.625276.814303.319320.488325.877

Adjust food and beverages prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1970 * 1970 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Food and beverages was 40.131 in the year 1970 and 325.877 in 2024:

325.877 / 40.131 * $20 = $162.41

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1970 has the same "purchasing power" as $162.41 in 2024 (in the CPI category of Food and beverages).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Food and beverages in 1967. In addition to food and beverages, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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