According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 44.58% higher in 2023 versus 2010 (a $8,915.24 difference in value).
Between 2010 and 2023: Food and beverages experienced an average inflation rate of 2.88% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $20,000 in the year 2010 would cost $28,915.24 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.52% during this same period, inflation for food and beverages was higher.
In the year 2010: Pricing changed by 0.79%, which is below the average yearly change for food and beverages during the 2010-2023 time period. Compared to inflation for all items in 2010 (1.64%), inflation for food and beverages was lower.
Below are calculations of equivalent buying power for Food and beverages, over time, for $20,000 beginning in 2010. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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: