Food and beverages priced at $20 in 2023 $20.29 in 2024

Food And Beverages Inflation Calculator

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Prices for Food And Beverages, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 1.46% higher in 2024 versus 2023 (a $0.29 difference in value).

Between 2023 and 2024: Food and beverages experienced an average inflation rate of 1.46% per year. In other words, food and beverages costing $20 in the year 2023 would cost $20.29 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 1.86% during this same period, inflation for food and beverages was lower.

In the year 2023: Pricing changed by 5.66%, which is significantly above the average yearly change for food and beverages during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for food and beverages was higher.

Price Inflation for Food and beverages since 1967

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1974 (13.76%), 1973 (13.29%), and 1979 (10.71%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Food and beverages, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2023$20.005.66%
2024$20.291.46%*

* 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:

Year1967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI34.98536.25438.06240.13141.36943.07748.80055.51560.20062.06265.76272.18579.91586.75493.50097.30899.477103.215105.623109.069113.508118.192124.892132.085136.792138.685141.585144.877148.869153.708157.738161.092164.562168.362173.569176.762180.538186.631191.169195.654203.300214.225218.249219.984227.866233.670236.966242.449246.804247.653249.837253.346258.013266.625276.814303.319320.488325.154

Adjust food and beverages prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Food and beverages was 320.488 in the year 2023 and 325.154 in 2024:

325.154 / 320.488 * $20 = $20.29

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.29 in 2024 (in the CPI category of Food and beverages).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Food and beverages in 1967. In addition to food and beverages, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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