Fresh milk other than whole priced at $20 in 2016 $25.16 in 2024

Fresh Milk Other Than Whole Inflation Calculator

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Prices for Fresh Milk Other Than Whole, 2016-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for fresh milk other than whole are 25.80% higher in 2024 versus 2016 (a $5.16 difference in value).

Between 2016 and 2024: Fresh milk other than whole experienced an average inflation rate of 2.91% per year. This rate of change indicates significant inflation. In other words, fresh milk other than whole costing $20 in the year 2016 would cost $25.16 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.27% during this same period, inflation for fresh milk other than whole was lower.

In the year 2016: Pricing changed by -4.72%, which is significantly below the average yearly change for fresh milk other than whole during the 2016-2024 time period. Compared to inflation for all items in 2016 (1.26%), inflation for fresh milk other than whole was much lower.

Price Inflation for Fresh milk other than whole since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2022 (14.24%), 2009 (-11%), and 2004 (10.61%).

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Buying power of $20.00 since 2016

Below are calculations of equivalent buying power for Fresh milk other than whole, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2016$20.00-4.72%
2017$19.88-0.61%
2018$19.67-1.06%
2019$20.232.87%
2020$21.265.08%
2021$21.872.88%
2022$24.9814.24%
2023$25.361.50%
2024$25.16-0.79%*

* 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 milk other than whole:

Year1997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000101.315108.269108.938113.215111.800113.400125.431128.485127.508141.000149.409132.972137.282149.243151.172152.455159.073151.031143.899143.015141.500145.554152.948157.349179.761182.464181.025

Adjust fresh milk other than whole prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2016 * 2016 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Fresh milk other than whole was 143.899 in the year 2016 and 181.025 in 2024:

181.025 / 143.899 * $20 = $25.16

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2016 has the same "purchasing power" as $25.16 in 2024 (in the CPI category of Fresh milk other than whole).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Fresh milk other than whole in 1997. In addition to fresh milk other than whole, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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