According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 176.74% higher in 2024 versus 1988 (a $35.35 difference in value).
Between 1988 and 2024: Food and beverages experienced an average inflation rate of 2.87% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $20 in the year 1988 would cost $55.35 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.74% during this same period, inflation for food and beverages was higher.
In the year 1988: Pricing changed by 4.13%, which is above the average yearly change for food and beverages during the 1988-2024 time period. Compared to inflation for all items in 1988 (4.08%), inflation for food and beverages was higher.
Below are calculations of equivalent buying power for Food and beverages, over time, for $20 beginning in 1988. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1988 | $20.00 | 4.13% |
| 1989 | $21.13 | 5.67% |
| 1990 | $22.35 | 5.76% |
| 1991 | $23.15 | 3.56% |
| 1992 | $23.47 | 1.38% |
| 1993 | $23.96 | 2.09% |
| 1994 | $24.52 | 2.33% |
| 1995 | $25.19 | 2.76% |
| 1996 | $26.01 | 3.25% |
| 1997 | $26.69 | 2.62% |
| 1998 | $27.26 | 2.13% |
| 1999 | $27.85 | 2.15% |
| 2000 | $28.49 | 2.31% |
| 2001 | $29.37 | 3.09% |
| 2002 | $29.91 | 1.84% |
| 2003 | $30.55 | 2.14% |
| 2004 | $31.58 | 3.37% |
| 2005 | $32.35 | 2.43% |
| 2006 | $33.11 | 2.35% |
| 2007 | $34.40 | 3.91% |
| 2008 | $36.25 | 5.37% |
| 2009 | $36.93 | 1.88% |
| 2010 | $37.22 | 0.79% |
| 2011 | $38.56 | 3.58% |
| 2012 | $39.54 | 2.55% |
| 2013 | $40.10 | 1.41% |
| 2014 | $41.03 | 2.31% |
| 2015 | $41.76 | 1.80% |
| 2016 | $41.91 | 0.34% |
| 2017 | $42.28 | 0.88% |
| 2018 | $42.87 | 1.40% |
| 2019 | $43.66 | 1.84% |
| 2020 | $45.12 | 3.34% |
| 2021 | $46.84 | 3.82% |
| 2022 | $51.33 | 9.58% |
| 2023 | $54.23 | 5.66% |
| 2024 | $55.35 | 2.06%* |
* 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 | 327.084 |