According to the U.S. Bureau of Labor Statistics, prices for fresh cakes and cupcakes are 19.36% higher in 2022 versus 2016 (a $3.87 difference in value).
Between 2016 and 2022: Fresh cakes and cupcakes experienced an average inflation rate of 2.99% per year. This rate of change indicates significant inflation. In other words, fresh cakes and cupcakes costing $20 in the year 2016 would cost $23.87 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.31% during this same period, inflation for fresh cakes and cupcakes was lower.
In the year 2016: Pricing changed by 2.27%, which is below the average yearly change for fresh cakes and cupcakes during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for fresh cakes and cupcakes was higher.
Below are calculations of equivalent buying power for Fresh cakes and cupcakes, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation 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 Fresh cakes and cupcakes: