Meats price inflation, 2023→2024

Meats Inflation Calculator

Prices for Meats, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for meats are 2.58% higher in 2024 versus 2023 (a $0.52 difference in value).

Between 2023 and 2024: Meats experienced an average inflation rate of 2.58% per year. This rate of change indicates significant inflation. In other words, meats costing $20 in the year 2023 would cost $20.52 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for meats was lower.

In the year 2023: Pricing changed by 2.07%, which is below the average yearly change for meats during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for meats was lower.

Price Inflation for Meats since 1935

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

Years with the largest changes in pricing: 1947 (42.39%), 1946 (27.77%), and 1973 (24.65%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Meats, 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	2.07%
2024	$20.52	2.58%*

* 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 Meats:

Year	1935	1936	1937	1938	1939	1940	1941	1942	1943	1944	1945	1946	1947	1948	1949	1950	1951	1952	1953	1954	1955	1956	1957	1958	1959	1960	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	12.454	12.192	13.162	12.085	11.954	11.669	13.177	15.162	15.354	14.600	14.600	18.654	26.562	30.169	28.362	29.931	33.900	33.577	31.354	31.208	28.708	27.785	30.823	34.300	33.077	32.485	32.900	33.546	33.000	32.523	34.977	38.238	37.231	38.085	41.523	43.785	43.485	48.123	59.985	61.131	66.246	66.369	64.908	77.015	90.100	92.662	96.023	100.654	99.508	99.838	98.885	101.992	109.646	112.185	116.700	128.454	132.538	130.654	134.631	135.354	135.469	140.154	144.362	141.631	142.323	150.723	159.300	160.269	168.985	183.192	187.538	188.823	194.983	201.815	200.545	206.232	224.439	231.981	234.778	256.469	264.232	252.521	251.048	252.076	255.341	274.178	295.191	319.398	326.000	334.424

Adjust meats 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 Meats was 326.000 in the year 2023 and 334.424 in 2024:

334.424 / 326.000 * $20 = $20.52

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.52 in 2024 (in the CPI category of Meats).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Meats in 1935. In addition to meats, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.