According to the U.S. Bureau of Labor Statistics, prices for fresh cakes and cupcakes were 2.30% higher in 2021 versus 2020 (a $0.46 difference in value).
Between 2020 and 2021: Fresh cakes and cupcakes experienced an average inflation rate of 2.30% per year. This rate of change indicates significant inflation. In other words, fresh cakes and cupcakes costing $20 in the year 2020 would cost $20.46 in 2021 for an equivalent purchase. Compared to the overall inflation rate of 3.82% during this same period, inflation for fresh cakes and cupcakes was lower.
In the year 2020: Pricing changed by -0.87%, which is significantly below the average yearly change for fresh cakes and cupcakes during the 2020-2021 time period. Compared to inflation for all items in 2020 (1.23%), inflation for fresh cakes and cupcakes was lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Fresh cakes and cupcakes:
Below are calculations of equivalent buying power for Fresh cakes and cupcakes, over time, for $20 beginning in 2020. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|