Peanut butter priced at $2.48 in 1997 $4.51 in 2022

Peanut Butter Inflation Calculator

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Prices for Peanut Butter, 1997-2022 ($2.48)

According to the U.S. Bureau of Labor Statistics, prices for peanut butter are 81.99% higher in 2022 versus 1997 (a $2.03 difference in value).

The current national average price is $2.48 for "Peanut butter, creamy, all sizes, per lb. (453.6 gm)". This data is collected by a national survey and can vary from region to region.

Between 1997 and 2022: Peanut butter experienced an average inflation rate of 2.42% per year. This rate of change indicates significant inflation. In other words, peanut butter costing $2.48 in the year 1997 would cost $4.51 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 2.33% during this same period, inflation for peanut butter was higher.

Price Inflation for Peanut butter since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2012 (32.39%), 2008 (11.87%), and 2022 (7.42%).

Price history

The average price for Peanut butter is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.

Average prices for Peanut butter, creamy, all sizes, per lb. (453.6 gm):

Year Average price (Peanut butter) Inflation adjusted price (2022 dollars)
2017 $2.55 $2.55
2016 $2.58 $2.56
2015 $2.68 $2.60
2014 $2.60 $2.41
2013 $2.73 $2.42
2012 $2.78 $2.38
2011 $2.09 $2.36
2010 $2.03 $2.44
2009 $2.12 $2.48
2008 $2.03 $2.46
2007 $1.79 $2.42
2006 $1.71 $2.40
2005 $1.71 $2.40
2004 $1.81 $2.55
2003 $1.92 $2.72
2002 $1.96 $2.75
2001 $1.95 $2.77
2000 $1.89 $2.76
1999 $1.82 $2.74
1998 $1.80 $2.75
1997 $1.78 $2.77
1996 $1.79 No data
1995 $1.80 No data
1994 $1.85 No data
1993 $1.84 No data
1992 $1.94 No data
1991 $2.15 No data
1990 $1.89 No data
1989 $1.81 No data
1988 $1.79 No data
1987 $1.80 No data
1986 $1.60 No data
1985 $1.54 No data
1984 $1.49 No data

View price changes for other categories
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Buying power of $2.48 since 1997

Below are calculations of equivalent buying power for Peanut butter, over time, for $2.48 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
1997 $2.48 -
1998 $2.52 1.71%
1999 $2.56 1.49%
2000 $2.65 3.35%
2001 $2.71 2.44%
2002 $2.75 1.30%
2003 $2.72 -0.96%
2004 $2.74 0.79%
2005 $2.74 -0.15%
2006 $2.75 0.61%
2007 $2.84 3.07%
2008 $3.17 11.87%
2009 $3.30 4.05%
2010 $3.20 -3.00%
2011 $3.41 6.30%
2012 $4.51 32.39%
2013 $4.34 -3.71%
2014 $4.14 -4.56%
2015 $3.98 -3.88%
2016 $3.88 -2.54%
2017 $3.85 -0.78%
2018 $3.90 1.34%
2019 $3.80 -2.72%
2020 $3.95 4.05%
2021 $4.20 6.35%
2022 $4.51 7.42%*
* Not final. See inflation summary for latest details.

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Peanut butter:

Year 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
CPI 100.000 101.708 103.223 106.685 109.292 110.715 109.654 110.515 110.354 111.023 114.433 128.011 133.189 129.197 137.331 181.815 175.064 167.087 160.607 156.534 155.315 157.395 153.107 159.301 169.424 181.994

Adjust peanut butter prices for inflation

Start with the inflation rate formula:

CPI in 2022 / CPI in 1997 * 1997 USD value = 2022 USD value

Then plug in historical CPI values from above. The CPI for Peanut butter was 100.000 in the year 1997 and 181.994 in 2022:

181.994 / 100.000 * $2.48 = $4.51

Therefore, according to U.S. Bureau of Labor Statistics, $2.48 in 1997 has the same "purchasing power" as $4.51 in 2022 (in the CPI category of Peanut butter).


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

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