According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 566.30% higher in 2024 versus 1973 (a $2,265,199.45 difference in value).
Between 1973 and 2024: Food and beverages experienced an average inflation rate of 3.79% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $400,000 in the year 1973 would cost $2,665,199.45 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.89% during this same period, inflation for food and beverages was lower.
In the year 1973: Pricing changed by 13.29%, which is significantly above the average yearly change for food and beverages during the 1973-2024 time period. Compared to inflation for all items in 1973 (6.18%), inflation for food and beverages was much higher.
Below are calculations of equivalent buying power for Food and beverages, over time, for $400,000 beginning in 1973. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1973 | $400,000.00 | 13.29% |
1974 | $455,044.14 | 13.76% |
1975 | $493,442.62 | 8.44% |
1976 | $508,701.13 | 3.09% |
1977 | $539,029.00 | 5.96% |
1978 | $591,677.18 | 9.77% |
1979 | $655,044.14 | 10.71% |
1980 | $711,097.10 | 8.56% |
1981 | $766,393.44 | 7.78% |
1982 | $797,604.04 | 4.07% |
1983 | $815,384.62 | 2.23% |
1984 | $846,027.74 | 3.76% |
1985 | $865,762.93 | 2.33% |
1986 | $894,010.09 | 3.26% |
1987 | $930,390.92 | 4.07% |
1988 | $968,789.41 | 4.13% |
1989 | $1,023,707.44 | 5.67% |
1990 | $1,082,660.78 | 5.76% |
1991 | $1,121,248.42 | 3.56% |
1992 | $1,136,759.14 | 1.38% |
1993 | $1,160,529.63 | 2.09% |
1994 | $1,187,515.76 | 2.33% |
1995 | $1,220,239.60 | 2.76% |
1996 | $1,259,899.12 | 3.25% |
1997 | $1,292,938.21 | 2.62% |
1998 | $1,320,428.75 | 2.13% |
1999 | $1,348,865.07 | 2.15% |
2000 | $1,380,012.61 | 2.31% |
2001 | $1,422,698.61 | 3.09% |
2002 | $1,448,865.07 | 1.84% |
2003 | $1,479,823.46 | 2.14% |
2004 | $1,529,760.40 | 3.37% |
2005 | $1,566,960.91 | 2.43% |
2006 | $1,603,720.05 | 2.35% |
2007 | $1,666,390.29 | 3.91% |
2008 | $1,755,944.51 | 5.37% |
2009 | $1,788,928.12 | 1.88% |
2010 | $1,803,147.54 | 0.79% |
2011 | $1,867,753.47 | 3.58% |
2012 | $1,915,326.61 | 2.55% |
2013 | $1,942,342.37 | 1.41% |
2014 | $1,987,283.10 | 2.31% |
2015 | $2,022,986.13 | 1.80% |
2016 | $2,029,940.10 | 0.34% |
2017 | $2,047,845.52 | 0.88% |
2018 | $2,076,609.71 | 1.40% |
2019 | $2,114,860.66 | 1.84% |
2020 | $2,185,448.30 | 3.34% |
2021 | $2,268,963.43 | 3.82% |
2022 | $2,486,220.68 | 9.58% |
2023 | $2,626,949.56 | 5.66% |
2024 | $2,665,199.45 | 1.46%* |
* 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 | 325.154 |