According to the U.S. Bureau of Labor Statistics, prices for food and beverages were 13.88% higher in 2020 versus 2012 (a $1.11 difference in value).
Between 2012 and 2020: Food and beverages experienced an average inflation rate of 1.64% per year. In other words, food and beverages costing $8 in the year 2012 would cost $9.11 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.49% 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 2012-2020 time period. Compared to inflation for all items in 2012 (2.07%), inflation for food and beverages was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Food and beverages:
Below are calculations of equivalent buying power for Food and beverages, over time, for $8 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|