Food priced at $20 in 2018 $25.28 in 2023

Food Inflation Calculator


Prices for Food, 2018-2023 ($20)

According to the U.S. Bureau of Labor Statistics, prices for food are 26.41% higher in 2023 versus 2018 (a $5.28 difference in value).

Between 2018 and 2023: Food experienced an average inflation rate of 4.80% per year. This rate of change indicates significant inflation. In other words, food costing $20 in the year 2018 would cost $25.28 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 3.71% during this same period, inflation for food was higher.

In the year 2018: Pricing changed by 1.40%, which is significantly below the average yearly change for food during the 2018-2023 time period. Compared to inflation for all items in 2018 (2.44%), inflation for food was lower.

Price Inflation for Food since 1913

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1917 (28.65%), 1921 (-24.20%), and 1947 (21.43%).

View price changes for other categories
Gasoline (all types) · Admission to sporting events · Women's apparel · Indoor plants and flowers · More

Buying power of $20.00 since 2018

Below are calculations of equivalent buying power for Food, over time, for $20 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation 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:


Adjust food prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2018 * 2018 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Food was 253.558 in the year 2018 and 320.534 in 2023:

320.534 / 253.558 * $20 = $25.28

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2018 has the same "purchasing power" as $25.28 in 2023 (in the CPI category of Food).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Food in 1913. In addition to food, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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