Rice price history from 2003 through 2020

Rice Inflation Calculator

Prices for Rice, 2003-2020 ($20)

According to the U.S. Bureau of Labor Statistics, prices for rice were 61.62% higher in 2020 versus 2003 (a $12.32 difference in value).

Between 2003 and 2020: Rice experienced an average inflation rate of 2.86% per year. This rate of change indicates significant inflation. In other words, rice costing $20 in the year 2003 would cost $32.32 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 2.00% during this same period, inflation for rice was higher.

In the year 2003: Pricing changed by 2.57%, which is below the average yearly change for rice during the 2003-2020 time period. Compared to inflation for all items in 2003 (2.27%), inflation for rice was higher.

Price Inflation for Rice since 1997

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

Years with the largest changes in pricing: 2008 (27.30%), 2004 (7.17%), and 2006 (5.64%).

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

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
CPI	100.000	99.354	100.892	99.285	98.200	98.254	100.777	108.000	108.762	114.892	120.066	152.842	160.992	156.909	163.927	167.327	170.212	170.678	167.202	163.080	160.028	161.708	162.567	162.880

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Buying power of $20 since 2003

Below are calculations of equivalent buying power for Rice, over time, for $20 beginning in 2003. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year	USD Value	Inflation Rate
2003	$20.00	2.57%
2004	$21.43	7.17%
2005	$21.58	0.71%
2006	$22.80	5.64%
2007	$23.83	4.50%
2008	$30.33	27.30%
2009	$31.95	5.33%
2010	$31.14	-2.54%
2011	$32.53	4.47%
2012	$33.21	2.07%
2013	$33.78	1.72%
2014	$33.87	0.27%
2015	$33.18	-2.04%
2016	$32.36	-2.47%
2017	$31.76	-1.87%
2018	$32.09	1.05%
2019	$32.26	0.53%
2020	$32.32	0.19%*

* Not final. See inflation summary for latest details.

How to calculate the inflation rate for rice, 2003-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 2003 * 2003 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for Rice was 100.777 in the year 2003 and 162.880 in 2020:

162.880 / 100.777 * $20 = $32.32

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 2003 has the same "purchasing power" as $32.32 in 2020 (in the CPI category of Rice).

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