According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 569.58% higher in 2024 versus 1973 (a $2,439,016,847.88 difference in value).
Between 1973 and 2024: Food and beverages experienced an average inflation rate of 3.80% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $428,214,478 in the year 1973 would cost $2,867,231,325.88 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.90% 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 $428,214,478 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 | $428,214,478.00 | 13.29% |
| 1974 | $487,141,218.12 | 13.76% |
| 1975 | $528,248,188.02 | 8.44% |
| 1976 | $544,582,977.38 | 3.09% |
| 1977 | $577,050,058.70 | 5.96% |
| 1978 | $633,411,831.90 | 9.77% |
| 1979 | $701,248,457.12 | 10.71% |
| 1980 | $761,255,183.30 | 8.56% |
| 1981 | $820,451,919.94 | 7.78% |
| 1982 | $853,863,989.08 | 4.07% |
| 1983 | $872,898,743.62 | 2.23% |
| 1984 | $905,703,320.59 | 3.76% |
| 1985 | $926,830,548.14 | 2.33% |
| 1986 | $957,070,158.19 | 3.26% |
| 1987 | $996,017,155.95 | 4.07% |
| 1988 | $1,037,124,125.86 | 4.13% |
| 1989 | $1,095,915,867.72 | 5.67% |
| 1990 | $1,159,027,553.87 | 5.76% |
| 1991 | $1,200,337,021.17 | 3.56% |
| 1992 | $1,216,941,807.04 | 1.38% |
| 1993 | $1,242,388,978.89 | 2.09% |
| 1994 | $1,271,278,606.34 | 2.33% |
| 1995 | $1,306,310,654.59 | 2.76% |
| 1996 | $1,348,767,607.09 | 3.25% |
| 1997 | $1,384,137,150.99 | 2.62% |
| 1998 | $1,413,566,771.48 | 2.13% |
| 1999 | $1,444,008,878.92 | 2.15% |
| 2000 | $1,477,353,448.93 | 2.31% |
| 2001 | $1,523,050,359.65 | 3.09% |
| 2002 | $1,551,062,498.42 | 1.84% |
| 2003 | $1,584,204,571.04 | 2.14% |
| 2004 | $1,637,663,881.66 | 3.37% |
| 2005 | $1,677,488,368.10 | 2.43% |
| 2006 | $1,716,840,360.64 | 2.35% |
| 2007 | $1,783,931,120.48 | 3.91% |
| 2008 | $1,879,802,159.19 | 5.37% |
| 2009 | $1,915,112,303.85 | 1.88% |
| 2010 | $1,930,334,707.55 | 0.79% |
| 2011 | $1,999,497,690.66 | 3.58% |
| 2012 | $2,050,426,458.92 | 2.55% |
| 2013 | $2,079,347,810.96 | 1.41% |
| 2014 | $2,127,458,490.56 | 2.31% |
| 2015 | $2,165,679,872.68 | 1.80% |
| 2016 | $2,173,124,351.68 | 0.34% |
| 2017 | $2,192,292,754.49 | 0.88% |
| 2018 | $2,223,085,857.40 | 1.40% |
| 2019 | $2,264,034,879.35 | 1.84% |
| 2020 | $2,339,601,504.89 | 3.34% |
| 2021 | $2,429,007,476.96 | 3.82% |
| 2022 | $2,661,589,227.72 | 9.58% |
| 2023 | $2,812,244,584.96 | 5.66% |
| 2024 | $2,867,231,325.88 | 1.96%* |
* 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 | 326.754 |