According to the U.S. Bureau of Labor Statistics, prices for other beverage materials including tea are 8.32% higher in 2022 versus 2016 (a $1.66 difference in value).
Between 2016 and 2022: Other beverage materials including tea experienced an average inflation rate of 1.34% per year. In other words, other beverage materials including tea costing $20 in the year 2016 would cost $21.66 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.93% during this same period, inflation for other beverage materials including tea was lower.
In the year 2016: Pricing changed by 0.50%, which is below the average yearly change for other beverage materials including tea during the 2016-2022 time period. Compared to inflation for all items in 2016 (1.26%), inflation for other beverage materials including tea was lower.
Below are calculations of equivalent buying power for Other beverage materials including tea, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Other beverage materials including tea: