Food away from home price inflation, 2022→2024

Food Away From Home Inflation Calculator

Prices for Food Away From Home, 2022-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for food away from home are 11.14% higher in 2024 versus 2022 (a $2.23 difference in value).

Between 2022 and 2024: Food away from home experienced an average inflation rate of 5.42% per year. This rate of change indicates significant inflation. In other words, food away from home costing $20 in the year 2022 would cost $22.23 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.47% during this same period, inflation for food away from home was higher.

In the year 2022: Pricing changed by 7.66%, which is above the average yearly change for food away from home during the 2022-2024 time period. Compared to inflation for all items in 2022 (8%), inflation for food away from home was lower.

Price Inflation for Food away from home since 1953

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

Years with the largest changes in pricing: 1974 (12.76%), 1979 (11.16%), and 1980 (9.93%).

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Buying power of $20.00 since 2022

Below are calculations of equivalent buying power for Food away from home, over time, for $20 beginning in 2022. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2022	$20.00	7.66%
2023	$21.42	7.08%
2024	$22.23	3.79%*

* 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 away from home:

Year	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	21.531	21.900	22.131	22.562	23.431	24.108	24.792	25.446	26.000	26.715	27.308	27.777	28.400	29.700	31.231	32.862	34.877	37.477	39.408	40.985	44.185	49.823	54.485	58.169	62.577	68.277	75.900	83.438	90.938	95.800	99.985	104.208	108.323	112.554	117.031	121.769	127.392	133.408	137.915	140.700	143.223	145.654	148.962	152.662	157.008	161.069	165.100	168.985	173.854	178.292	182.100	187.508	193.415	199.385	206.659	215.769	223.272	226.114	231.401	237.986	243.068	248.981	256.101	262.695	268.826	275.893	284.410	293.944	307.296	330.822	354.256	367.674

Adjust food away from home prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2022 * 2022 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Food away from home was 330.822 in the year 2022 and 367.674 in 2024:

367.674 / 330.822 * $20 = $22.23

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2022 has the same "purchasing power" as $22.23 in 2024 (in the CPI category of Food away from home).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Food away from home in 1953. In addition to food away from home, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.