Rice priced at $1.35 in 2004 $2.46 in 2023

Rice Inflation Calculator


Prices for Rice, 2004-2023 ($1.35)

According to the U.S. Bureau of Labor Statistics, prices for rice are 82.42% higher in 2023 versus 2004 (a $1.11 difference in value).

The current national average price is $1.35 for "Rice, white, long grain, precooked (cost per pound/453.6 grams)". This data is collected by a national survey and can vary from region to region.

Between 2004 and 2023: Rice experienced an average inflation rate of 3.21% per year. This rate of change indicates significant inflation. In other words, rice costing $1.35 in the year 2004 would cost $2.46 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.53% during this same period, inflation for rice was higher.

In the year 2004: Pricing changed by 7.17%, which is significantly above the average yearly change for rice during the 2004-2023 time period. Compared to inflation for all items in 2004 (2.68%), inflation for rice was much 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%), 2022 (11.03%), and 2004 (7.17%).

Price history

The average price for Rice 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 Rice, white, long grain, precooked (cost per pound/453.6 grams):

YearAverage price (Rice)Inflation adjusted price (2023 dollars)
1981$1.30No data
1980$1.19No data

View price changes for other categories
New cars · Alcoholic beverages · Public transportation · Minneapolis-St Paul, Minnesota · More

Buying power of $1.35 since 2004

Below are calculations of equivalent buying power for Rice, over time, for $1.35 beginning in 2004. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate

* 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 Rice:


Adjust rice prices for inflation

Start with the inflation rate formula:

CPI in 2023 / CPI in 2004 * 2004 USD value = 2023 USD value

Then plug in historical CPI values from above. The CPI for Rice was 108.000 in the year 2004 and 197.008 in 2023:

197.008 / 108.000 * $1.35 = $2.46

Therefore, according to U.S. Bureau of Labor Statistics, $1.35 in 2004 has the same "purchasing power" as $2.46 in 2023 (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.

» Read more about inflation and investment.