According to the U.S. Bureau of Labor Statistics, prices for fresh cakes and cupcakes are 118.06% higher in 2024 versus 1998 (a $23.61 difference in value).
Between 1998 and 2024: Fresh cakes and cupcakes experienced an average inflation rate of 3.04% per year. This rate of change indicates significant inflation. In other words, fresh cakes and cupcakes costing $20 in the year 1998 would cost $43.61 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for fresh cakes and cupcakes was higher.
In the year 1998: Pricing changed by 0.88%, which is below the average yearly change for fresh cakes and cupcakes during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for fresh cakes and cupcakes was lower.
Below are calculations of equivalent buying power for Fresh cakes and cupcakes, 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 | 0.88% |
| 1999 | $20.49 | 2.43% |
| 2000 | $20.97 | 2.37% |
| 2001 | $21.66 | 3.27% |
| 2002 | $22.11 | 2.07% |
| 2003 | $22.81 | 3.18% |
| 2004 | $23.27 | 2.03% |
| 2005 | $23.83 | 2.41% |
| 2006 | $24.20 | 1.56% |
| 2007 | $25.18 | 4.03% |
| 2008 | $27.57 | 9.47% |
| 2009 | $28.63 | 3.86% |
| 2010 | $28.71 | 0.29% |
| 2011 | $29.64 | 3.23% |
| 2012 | $30.81 | 3.94% |
| 2013 | $31.30 | 1.58% |
| 2014 | $31.67 | 1.19% |
| 2015 | $32.59 | 2.90% |
| 2016 | $33.33 | 2.27% |
| 2017 | $33.79 | 1.39% |
| 2018 | $34.55 | 2.23% |
| 2019 | $35.36 | 2.35% |
| 2020 | $35.05 | -0.87% |
| 2021 | $36.10 | 2.98% |
| 2022 | $40.19 | 11.34% |
| 2023 | $43.50 | 8.24% |
| 2024 | $43.61 | 0.26%* |
* 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 Fresh cakes and cupcakes:
| Year | 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 | 64.100 | 66.862 | 73.385 | 82.192 | 91.246 | 95.577 | 99.585 | 104.838 | 109.308 | 111.769 | 116.046 | 122.862 | 129.862 | 138.085 | 145.108 | 148.385 | 155.162 | 159.969 | 167.800 | 173.123 | 177.769 | 179.331 | 183.685 | 188.031 | 194.185 | 198.208 | 204.508 | 208.662 | 213.700 | 217.031 | 225.784 | 247.176 | 256.729 | 257.470 | 265.787 | 276.260 | 280.616 | 283.951 | 292.195 | 298.837 | 302.991 | 309.761 | 317.047 | 314.287 | 323.652 | 360.346 | 390.044 | 391.058 |