Fresh cakes and cupcakes price inflation, 2023→2024

Fresh Cakes And Cupcakes Inflation Calculator

Prices for Fresh Cakes And Cupcakes, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for fresh cakes and cupcakes are 0.26% higher in 2024 versus 2023 (a $0.05 difference in value).

Between 2023 and 2024: Fresh cakes and cupcakes experienced an average inflation rate of 0.26% per year. In other words, fresh cakes and cupcakes costing $20 in the year 2023 would cost $20.05 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for fresh cakes and cupcakes was lower.

In the year 2023: Pricing changed by 8.24%, which is significantly above the average yearly change for fresh cakes and cupcakes during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for fresh cakes and cupcakes was much higher.

Price Inflation for Fresh cakes and cupcakes since 1977

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing: 1980 (12%), 2022 (11.34%), and 1981 (11.02%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Fresh cakes and cupcakes, over time, for $20 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2023	$20.00	8.24%
2024	$20.05	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

Adjust fresh cakes and cupcakes prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2023 * 2023 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Fresh cakes and cupcakes was 390.044 in the year 2023 and 391.058 in 2024:

391.058 / 390.044 * $20 = $20.05

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.05 in 2024 (in the CPI category of Fresh cakes and cupcakes).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Fresh cakes and cupcakes in 1977. In addition to fresh cakes and cupcakes, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.