Food at home price inflation, 2023→2024

Food At Home Inflation Calculator

Prices for Food At Home, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for food at home are 1.08% higher in 2024 versus 2023 (a $0.22 difference in value).

Between 2023 and 2024: Food at home experienced an average inflation rate of 1.08% per year. In other words, food at home costing $20 in the year 2023 would cost $20.22 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for food at home was lower.

In the year 2023: Pricing changed by 5.02%, which is significantly above the average yearly change for food at home during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for food at home was higher.

Price Inflation for Food at home since 1947

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1973 (16.30%), 1974 (14.85%), and 2022 (11.42%).

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Buying power of $20.00 since 2023

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

Year	USD Value	Inflation Rate
2023	$20.00	5.02%
2024	$20.22	1.08%*

* 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 at home:

Year	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CPI	25.838	28.000	26.900	27.254	30.308	30.862	30.285	30.123	29.508	29.677	30.638	31.977	31.208	31.492	31.762	31.985	32.385	32.769	33.515	35.238	35.115	36.254	38.023	39.923	40.892	42.708	49.669	57.046	61.754	63.062	66.800	73.831	81.815	88.362	94.815	98.085	99.123	102.792	104.269	107.254	111.885	116.554	124.208	132.315	135.838	136.823	140.062	144.085	148.754	154.300	158.138	161.131	164.208	167.885	173.369	175.615	179.392	186.185	189.777	193.115	201.245	214.125	215.124	215.836	226.201	231.774	233.869	239.456	242.250	239.065	238.589	239.661	241.775	250.233	258.892	288.451	302.929	306.208

Adjust food at home 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 at home was 302.929 in the year 2023 and 306.208 in 2024:

306.208 / 302.929 * $20 = $20.22

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.22 in 2024 (in the CPI category of Food at home).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Food at home in 1947. In addition to food at home, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.