According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 274.80% higher in 2024 versus 1980 (a $27,480,105,810.72 difference in value).
Between 1980 and 2024: Food and beverages experienced an average inflation rate of 3.05% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $10,000,000,000 in the year 1980 would cost $37,480,105,810.72 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.06% during this same period, inflation for food and beverages was lower.
In the year 1980: Pricing changed by 8.56%, which is significantly above the average yearly change for food and beverages during the 1980-2024 time period. Compared to inflation for all items in 1980 (13.55%), inflation for food and beverages was much lower.
Below are calculations of equivalent buying power for Food and beverages, over time, for $10,000,000,000 beginning in 1980. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1980 | $10,000,000,000.00 | 8.56% |
1981 | $10,777,620,145.42 | 7.78% |
1982 | $11,216,527,753.15 | 4.07% |
1983 | $11,466,572,087.25 | 2.23% |
1984 | $11,897,499,556.66 | 3.76% |
1985 | $12,175,031,033.87 | 2.33% |
1986 | $12,572,264,585.92 | 3.26% |
1987 | $13,083,880,120.59 | 4.07% |
1988 | $13,623,869,480.40 | 4.13% |
1989 | $14,396,169,533.61 | 5.67% |
1990 | $15,225,217,237.10 | 5.76% |
1991 | $15,767,866,643.02 | 3.56% |
1992 | $15,985,990,423.83 | 1.38% |
1993 | $16,320,269,551.34 | 2.09% |
1994 | $16,699,769,462.67 | 2.33% |
1995 | $17,159,957,439.26 | 2.76% |
1996 | $17,717,680,439.79 | 3.25% |
1997 | $18,182,301,826.56 | 2.62% |
1998 | $18,568,895,194.18 | 2.13% |
1999 | $18,968,788,792.34 | 2.15% |
2000 | $19,406,809,718.04 | 2.31% |
2001 | $20,007,093,456.29 | 3.09% |
2002 | $20,375,066,501.15 | 1.84% |
2003 | $20,810,427,380.74 | 2.14% |
2004 | $21,512,679,553.11 | 3.37% |
2005 | $22,035,821,954.25 | 2.43% |
2006 | $22,552,757,581.13 | 2.35% |
2007 | $23,434,075,190.64 | 3.91% |
2008 | $24,693,456,286.58 | 5.37% |
2009 | $25,157,297,393.15 | 1.88% |
2010 | $25,357,261,925.87 | 0.79% |
2011 | $26,265,800,673.88 | 3.58% |
2012 | $26,934,811,136.73 | 2.55% |
2013 | $27,314,727,788.62 | 1.41% |
2014 | $27,946,719,276.47 | 2.31% |
2015 | $28,448,802,979.25 | 1.80% |
2016 | $28,546,595,140.98 | 0.34% |
2017 | $28,798,395,105.52 | 0.88% |
2018 | $29,202,899,450.26 | 1.40% |
2019 | $29,740,813,974.11 | 1.84% |
2020 | $30,733,472,246.85 | 3.34% |
2021 | $31,907,926,937.40 | 3.82% |
2022 | $34,963,167,228.23 | 9.58% |
2023 | $36,942,206,064.91 | 5.66% |
2024 | $37,480,105,810.72 | 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 |