According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 118.58% higher in 2024 versus 1995 (a $603,508,614,570 difference in value).
Between 1995 and 2024: Food and beverages experienced an average inflation rate of 2.73% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $508,963,286,286 in the year 1995 would cost $1,112,471,900,856 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.49% during this same period, inflation for food and beverages was higher.
In the year 1995: Pricing changed by 2.76%, which is above the average yearly change for food and beverages during the 1995-2024 time period. Compared to inflation for all items in 1995 (2.81%), inflation for food and beverages was lower.
Below are calculations of equivalent buying power for Food and beverages, over time, for $508,963,286,286 beginning in 1995. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1995 | $508,963,286,286.00 | 2.76% |
1996 | $525,505,316,311.00 | 3.25% |
1997 | $539,285,958,176.03 | 2.62% |
1998 | $550,752,293,773.65 | 2.13% |
1999 | $562,613,113,394.12 | 2.15% |
2000 | $575,604,787,213.44 | 2.31% |
2001 | $593,409,166,111.57 | 3.09% |
2002 | $604,323,224,077.20 | 1.84% |
2003 | $617,236,001,091.95 | 2.14% |
2004 | $638,064,757,498.63 | 3.37% |
2005 | $653,581,129,064.21 | 2.43% |
2006 | $668,913,408,085.80 | 2.35% |
2007 | $695,053,234,386.83 | 3.91% |
2008 | $732,406,400,532.16 | 5.37% |
2009 | $746,163,899,334.52 | 1.88% |
2010 | $752,094,835,123.45 | 0.79% |
2011 | $779,042,038,724.59 | 3.58% |
2012 | $798,884,848,063.49 | 2.55% |
2013 | $810,153,152,681.64 | 1.41% |
2014 | $828,897,981,490.25 | 2.31% |
2015 | $843,789,753,352.99 | 1.80% |
2016 | $846,690,262,878.36 | 0.34% |
2017 | $854,158,634,399.02 | 0.88% |
2018 | $866,156,208,480.75 | 1.40% |
2019 | $882,110,720,301.05 | 1.84% |
2020 | $911,552,903,852.07 | 3.34% |
2021 | $946,387,158,016.81 | 3.82% |
2022 | $1,037,005,397,853.30 | 9.58% |
2023 | $1,095,703,568,496.56 | 5.66% |
2024 | $1,112,471,900,856.00 | 1.53%* |
* 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 | 325.392 |