According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 28.09% higher in 2023 versus 2017 (a $5.62 difference in value).
Between 2017 and 2023: Food and beverages experienced an average inflation rate of 4.21% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $20 in the year 2017 would cost $25.62 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.67% during this same period, inflation for food and beverages was higher.
In the year 2017: Pricing changed by 0.88%, which is significantly below the average yearly change for food and beverages during the 2017-2023 time period. Compared to inflation for all items in 2017 (2.13%), inflation for food and beverages was lower.
Below are calculations of equivalent buying power for Food and beverages, over time, for $20 beginning in 2017. 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: