According to the U.S. Bureau of Labor Statistics, prices for food are 105.35% higher in 2024 versus 1998 (a $21.07 difference in value).
Between 1998 and 2024: Food experienced an average inflation rate of 2.81% per year. This rate of change indicates significant inflation. In other words, food costing $20 in the year 1998 would cost $41.07 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.55% during this same period, inflation for food was higher.
In the year 1998: Pricing changed by 2.17%, which is below the average yearly change for food during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for food was higher.
Below are calculations of equivalent buying power for Food, over time, for $20 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $20.00 | 2.17% |
| 1999 | $20.43 | 2.13% |
| 2000 | $20.89 | 2.26% |
| 2001 | $21.54 | 3.14% |
| 2002 | $21.93 | 1.81% |
| 2003 | $22.40 | 2.13% |
| 2004 | $23.17 | 3.44% |
| 2005 | $23.74 | 2.44% |
| 2006 | $24.29 | 2.34% |
| 2007 | $25.26 | 3.97% |
| 2008 | $26.65 | 5.51% |
| 2009 | $27.13 | 1.80% |
| 2010 | $27.34 | 0.77% |
| 2011 | $28.36 | 3.74% |
| 2012 | $29.10 | 2.61% |
| 2013 | $29.50 | 1.39% |
| 2014 | $30.21 | 2.40% |
| 2015 | $30.77 | 1.86% |
| 2016 | $30.86 | 0.28% |
| 2017 | $31.12 | 0.86% |
| 2018 | $31.56 | 1.40% |
| 2019 | $32.15 | 1.88% |
| 2020 | $33.26 | 3.45% |
| 2021 | $34.57 | 3.94% |
| 2022 | $38.01 | 9.95% |
| 2023 | $40.20 | 5.76% |
| 2024 | $41.07 | 2.17%* |
* 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:
| Year | 1913 | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 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 | 9.923 | 10.154 | 10.054 | 11.277 | 14.508 | 16.700 | 18.577 | 20.977 | 15.900 | 14.892 | 15.385 | 15.231 | 16.500 | 17.046 | 16.431 | 16.246 | 16.454 | 15.646 | 12.900 | 10.723 | 10.415 | 11.608 | 12.454 | 12.569 | 13.085 | 12.138 | 11.823 | 11.985 | 13.077 | 15.385 | 17.100 | 16.877 | 17.262 | 19.815 | 24.062 | 26.085 | 25.062 | 25.392 | 28.223 | 28.723 | 28.269 | 28.238 | 27.815 | 28.023 | 28.923 | 30.169 | 29.662 | 30.015 | 30.362 | 30.631 | 31.069 | 31.477 | 32.177 | 33.808 | 34.062 | 35.292 | 37.108 | 39.200 | 40.354 | 42.092 | 48.177 | 55.115 | 59.792 | 61.631 | 65.515 | 72.054 | 79.915 | 86.777 | 93.562 | 97.354 | 99.408 | 103.231 | 105.569 | 108.946 | 113.485 | 118.177 | 125.077 | 132.369 | 136.254 | 137.892 | 140.862 | 144.277 | 148.415 | 153.285 | 157.277 | 160.685 | 164.100 | 167.815 | 173.085 | 176.215 | 179.977 | 186.177 | 190.723 | 195.177 | 202.916 | 214.106 | 217.955 | 219.625 | 227.842 | 233.777 | 237.037 | 242.725 | 247.235 | 247.931 | 250.065 | 253.558 | 258.316 | 267.219 | 277.756 | 305.388 | 322.965 | 329.962 |