According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 27.73% higher in 2022 versus 2012 (a $2,773.02 difference in value).
Between 2012 and 2022: Food and beverages experienced an average inflation rate of 2.48% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $10,000 in the year 2012 would cost $12,773.02 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.37% during this same period, inflation for food and beverages was higher.
In the year 2012: Pricing changed by 2.54%, which is above the average yearly change for food and beverages during the 2012-2022 time period. Compared to inflation for all items in 2012 (2.07%), inflation for food and beverages was higher.
Below are calculations of equivalent buying power for Food and beverages, over time, for $10,000 beginning in 2012. 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: