Other bakery products price inflation, 2023→2024

Other Bakery Products Inflation Calculator

Prices for Other Bakery Products, 2023-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for other bakery products are 1.61% higher in 2024 versus 2023 (a $0.32 difference in value).

Between 2023 and 2024: Other bakery products experienced an average inflation rate of 1.61% per year. In other words, other bakery products costing $20 in the year 2023 would cost $20.32 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.83% during this same period, inflation for other bakery products was lower.

In the year 2023: Pricing changed by 8.66%, which is significantly above the average yearly change for other bakery products during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for other bakery products was much higher.

Price Inflation for Other bakery products since 1978

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

Years with the largest changes in pricing: 2022 (14.17%), 1980 (10.97%), and 1979 (10.19%).

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Buying power of $20.00 since 2023

Below are calculations of equivalent buying power for Other bakery products, 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	8.66%
2024	$20.32	1.61%*

* 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 Other bakery products:

Year	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	67.731	74.631	82.815	90.700	95.431	99.546	105.023	110.285	114.738	119.108	124.354	133.415	140.900	146.777	151.769	157.800	162.662	168.308	176.531	180.208	184.262	186.677	191.477	199.138	202.992	207.269	211.762	211.438	215.477	220.479	236.523	245.947	247.075	253.076	260.410	263.465	264.819	266.435	265.381	264.884	264.674	269.862	275.910	282.816	322.897	350.855	356.516

Adjust other bakery products 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 Other bakery products was 350.855 in the year 2023 and 356.516 in 2024:

356.516 / 350.855 * $20 = $20.32

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2023 has the same "purchasing power" as $20.32 in 2024 (in the CPI category of Other bakery products).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Other bakery products in 1978. In addition to other bakery products, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.