Instant coffee price inflation, 2023→2024

Instant Coffee Inflation Calculator

Prices for Instant Coffee, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for instant coffee are 0.97% higher in 2024 versus 2023 (a $0.19 difference in value).

Between 2023 and 2024: Instant coffee experienced an average inflation rate of 0.97% per year. In other words, instant coffee costing $20 in the year 2023 would cost $20.19 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.89% during this same period, inflation for instant coffee was lower.

In the year 2023: Pricing changed by 4.48%, which is significantly above the average yearly change for instant coffee during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for instant coffee was higher.

Price Inflation for Instant coffee since 1961

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

Years with the largest changes in pricing: 1977 (51.17%), 1976 (27.65%), and 1986 (21.02%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Instant coffee, 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	4.48%
2024	$20.19	0.97%*

* 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 Instant coffee:

Year	1961	1962	1963	1964	1965	1966	1967	1968	1969	1970	1971	1972	1973	1974	1975	1976	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	29.014	28.292	28.762	33.438	29.885	28.638	28.315	28.792	30.208	33.838	35.300	35.131	37.215	44.662	50.415	64.354	97.285	102.385	98.038	106.477	95.477	97.292	99.262	103.469	107.285	129.838	120.546	117.723	118.369	117.885	117.077	114.615	113.962	134.531	152.623	147.538	153.754	154.190	160.367	160.154	162.831	163.854	164.454	166.131	176.208	178.908	189.145	204.694	200.884	199.038	211.388	214.372	207.707	205.218	203.545	197.301	197.304	188.031	189.023	186.379	188.645	209.055	218.413	220.537

Adjust instant coffee 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 Instant coffee was 218.413 in the year 2023 and 220.537 in 2024:

220.537 / 218.413 * $20 = $20.19

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.19 in 2024 (in the CPI category of Instant coffee).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Instant coffee in 1961. In addition to instant coffee, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.